Louisiana State Employees Retirement System Acquires Shares of 6,500 Medpace Holdings, Inc. (NASDAQ:MEDP)

Louisiana State Employees Retirement System acquired a new stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 6,500 shares of the company’s stock, valued at approximately $1,992,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MEDP. Wellington Management Group LLP boosted its holdings in shares of Medpace by 312.6% during the 3rd quarter. Wellington Management Group LLP now owns 421,313 shares of the company’s stock valued at $102,013,000 after purchasing an additional 319,210 shares during the last quarter. Wasatch Advisors Inc. boosted its holdings in shares of Medpace by 12.1% during the 1st quarter. Wasatch Advisors Inc. now owns 2,728,392 shares of the company’s stock valued at $446,338,000 after purchasing an additional 294,103 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Medpace by 67.6% during the 3rd quarter. Invesco Ltd. now owns 611,900 shares of the company’s stock valued at $148,159,000 after purchasing an additional 246,775 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Medpace by 102.3% during the 4th quarter. Millennium Management LLC now owns 450,938 shares of the company’s stock valued at $95,784,000 after purchasing an additional 228,001 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Medpace during the 4th quarter valued at about $43,977,000. Institutional investors own 77.98% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on MEDP shares. UBS Group upgraded shares of Medpace from a “neutral” rating to a “buy” rating and upped their target price for the company from $282.00 to $452.00 in a research report on Thursday, February 15th. Robert W. Baird upped their target price on shares of Medpace from $312.00 to $408.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research report on Saturday, March 23rd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Medpace in a research report on Monday, March 18th. They set a “hold” rating and a $395.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $382.00.

Insider Buying and Selling

In related news, CEO August J. Troendle sold 100,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total value of $41,298,000.00. Following the sale, the chief executive officer now directly owns 4,833,019 shares of the company’s stock, valued at approximately $1,995,940,186.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO August J. Troendle sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total transaction of $41,298,000.00. Following the transaction, the chief executive officer now directly owns 4,833,019 shares of the company’s stock, valued at $1,995,940,186.62. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Susan E. Burwig sold 102 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $403.00, for a total transaction of $41,106.00. Following the transaction, the vice president now directly owns 15,181 shares in the company, valued at $6,117,943. The disclosure for this sale can be found here. Insiders have sold 189,340 shares of company stock valued at $76,651,647 in the last ninety days. 20.30% of the stock is owned by company insiders.

Medpace Price Performance

Medpace stock opened at $382.44 on Thursday. Medpace Holdings, Inc. has a 1-year low of $185.43 and a 1-year high of $419.42. The firm has a market capitalization of $11.85 billion, a P/E ratio of 43.07, a price-to-earnings-growth ratio of 2.03 and a beta of 1.38. The company’s 50-day moving average is $393.75 and its 200 day moving average is $318.67.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, February 12th. The company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.24. Medpace had a net margin of 15.00% and a return on equity of 63.98%. The company had revenue of $498.40 million for the quarter, compared to analyst estimates of $498.72 million. During the same period in the prior year, the company posted $2.12 EPS. The firm’s revenue for the quarter was up 26.5% on a year-over-year basis. Research analysts anticipate that Medpace Holdings, Inc. will post 10.53 earnings per share for the current fiscal year.

Medpace Company 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.