Retirement Systems of Alabama Sells 221 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Retirement Systems of Alabama decreased its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,962 shares of the company’s stock after selling 221 shares during the period. Retirement Systems of Alabama owned 0.20% of Medpace worth $25,519,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Rise Advisors LLC bought a new position in Medpace during the first quarter valued at $27,000. Mather Group LLC. bought a new position in Medpace during the 1st quarter valued at about $28,000. Fidelis Capital Partners LLC bought a new position in Medpace during the 1st quarter valued at about $31,000. DT Investment Partners LLC purchased a new stake in Medpace in the 2nd quarter worth about $41,000. Finally, Arcadia Investment Management Corp MI lifted its stake in Medpace by 40.3% in the first quarter. Arcadia Investment Management Corp MI now owns 101 shares of the company’s stock worth $41,000 after purchasing an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Insiders Place Their Bets

In related news, CEO August J. Troendle sold 5,695 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $395.49, for a total value of $2,252,315.55. Following the transaction, the chief executive officer now owns 654,656 shares in the company, valued at approximately $258,909,901.44. The sale was disclosed in a filing with the SEC, which is available through this link. 20.30% of the stock is currently owned by insiders.

Medpace Stock Up 1.2 %

Shares of NASDAQ MEDP traded up $4.59 during trading hours on Friday, hitting $390.91. 107,160 shares of the stock were exchanged, compared to its average volume of 243,408. Medpace Holdings, Inc. has a 12 month low of $227.21 and a 12 month high of $459.77. The firm has a fifty day moving average price of $399.86 and a 200-day moving average price of $394.66. The company has a market cap of $12.11 billion, a PE ratio of 39.85, a PEG ratio of 2.00 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.21. The business had revenue of $528.10 million during the quarter, compared to analysts’ expectations of $528.41 million. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The business’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter last year, the company posted $1.93 earnings per share. As a group, equities analysts anticipate that Medpace Holdings, Inc. will post 11.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on MEDP. Mizuho initiated coverage on Medpace in a research note on Tuesday, May 28th. They set a “buy” rating and a $435.00 target price on the stock. StockNews.com lowered Medpace from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. William Blair restated an “outperform” rating on shares of Medpace in a report on Tuesday, July 23rd. Guggenheim decreased their price objective on shares of Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, TD Cowen lowered their price objective on shares of Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $423.00.

Medpace Profile

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.