Acadian Asset Management LLC Decreases Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Acadian Asset Management LLC reduced its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 56.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,945 shares of the company’s stock after selling 31,514 shares during the period. Acadian Asset Management LLC’s holdings in Medpace were worth $9,672,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in Medpace in the 1st quarter worth approximately $27,000. Mather Group LLC. purchased a new position in Medpace in the 1st quarter worth approximately $28,000. GAMMA Investing LLC purchased a new position in Medpace in the 4th quarter worth approximately $30,000. Fidelis Capital Partners LLC bought a new stake in Medpace in the 1st quarter worth approximately $31,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in Medpace in the 4th quarter worth approximately $33,000. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. TD Cowen assumed coverage on shares of Medpace in a research report on Wednesday, May 29th. They issued a “buy” rating and a $452.00 target price for the company. Robert W. Baird lifted their target price on shares of Medpace from $456.00 to $469.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. StockNews.com raised shares of Medpace from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Guggenheim lifted their target price on shares of Medpace from $453.00 to $464.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Jefferies Financial Group raised shares of Medpace from a “hold” rating to a “buy” rating and lifted their target price for the stock from $340.00 to $450.00 in a research report on Tuesday, April 23rd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $445.29.

Insider Buying and Selling

In related news, CEO August J. Troendle sold 3,987 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $395.22, for a total value of $1,575,742.14. Following the completion of the transaction, the chief executive officer now owns 660,351 shares of the company’s stock, valued at approximately $260,983,922.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO August J. Troendle sold 4,782 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $400.58, for a total transaction of $1,915,573.56. Following the sale, the chief executive officer now directly owns 716,197 shares in the company, valued at approximately $286,894,194.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO August J. Troendle sold 3,987 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $395.22, for a total transaction of $1,575,742.14. Following the transaction, the chief executive officer now owns 660,351 shares in the company, valued at $260,983,922.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,621 shares of company stock valued at $11,816,852. Company insiders own 20.30% of the company’s stock.

Medpace Stock Performance

Shares of MEDP stock traded down $2.65 during mid-day trading on Friday, reaching $421.31. 195,131 shares of the company’s stock traded hands, compared to its average volume of 213,684. Medpace Holdings, Inc. has a 12 month low of $227.21 and a 12 month high of $459.77. The firm has a 50 day moving average price of $405.16 and a two-hundred day moving average price of $380.20. The firm has a market capitalization of $13.05 billion, a PE ratio of 42.95, a price-to-earnings-growth ratio of 2.08 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, April 22nd. The company reported $3.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.75. The firm had revenue of $511.00 million during the quarter, compared to the consensus estimate of $512.39 million. Medpace had a net margin of 15.92% and a return on equity of 59.74%. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.27 EPS. As a group, equities analysts expect that Medpace Holdings, Inc. will post 11.29 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.