Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP – Get Rating) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,328 shares of the company’s stock after buying an additional 131 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Medpace were worth $2,619,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Gladstone Institutional Advisory LLC purchased a new stake in shares of Medpace during the 4th quarter valued at about $302,000. Los Angeles Capital Management LLC raised its holdings in shares of Medpace by 34.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 24,039 shares of the company’s stock valued at $5,106,000 after buying an additional 6,125 shares during the period. AXA S.A. raised its holdings in shares of Medpace by 27.1% during the 3rd quarter. AXA S.A. now owns 44,600 shares of the company’s stock valued at $7,010,000 after buying an additional 9,500 shares during the period. Gabelli Funds LLC acquired a new stake in Medpace during the 3rd quarter valued at approximately $204,000. Finally, Point72 Hong Kong Ltd grew its stake in Medpace by 218.4% during the 3rd quarter. Point72 Hong Kong Ltd now owns 898 shares of the company’s stock valued at $141,000 after purchasing an additional 616 shares in the last quarter. 82.49% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on MEDP. StockNews.com upgraded Medpace from a “hold” rating to a “buy” rating in a research note on Friday, May 12th. Guggenheim upgraded Medpace from a “neutral” rating to a “buy” rating and set a $252.00 price objective for the company in a research note on Monday, May 8th. Robert W. Baird raised their price objective on Medpace from $226.00 to $233.00 and gave the company a “neutral” rating in a research note on Wednesday, February 15th. Finally, 22nd Century Group restated an “upgrade” rating on shares of Medpace in a research note on Monday, May 8th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $241.00.
Insider Transactions at Medpace
In other news, CEO August J. Troendle sold 31,648 shares of Medpace stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $221.83, for a total value of $7,020,475.84. Following the completion of the transaction, the chief executive officer now owns 6,451,371 shares in the company, valued at approximately $1,431,107,628.93. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 25.70% of the company’s stock.
Medpace Trading Down 0.2 %
Shares of MEDP opened at $202.16 on Friday. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of 25.59 and a beta of 1.42. The stock has a 50 day moving average of $196.04 and a 200-day moving average of $206.76. Medpace Holdings, Inc. has a 52 week low of $130.79 and a 52 week high of $241.48.
Medpace (NASDAQ:MEDP – Get Rating) last issued its earnings results on Monday, April 24th. The company reported $2.27 EPS for the quarter, topping the consensus estimate of $1.76 by $0.51. The company had revenue of $434.07 million during the quarter, compared to analyst estimates of $402.83 million. Medpace had a return on equity of 75.20% and a net margin of 16.44%. The business’s revenue was up 31.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.69 EPS. On average, sell-side analysts predict that Medpace Holdings, Inc. will post 8.11 earnings per share for the current fiscal year.
About Medpace
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Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.
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