Sumitomo Mitsui Trust Holdings Inc. Boosts Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Sumitomo Mitsui Trust Holdings Inc. raised its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 71.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,056 shares of the company’s stock after buying an additional 856 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Medpace were worth $630,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RiverPark Advisors LLC bought a new position in shares of Medpace during the fourth quarter worth about $26,000. Contravisory Investment Management Inc. bought a new position in shares of Medpace during the fourth quarter worth about $26,000. FinTrust Capital Advisors LLC bought a new position in shares of Medpace during the third quarter worth about $30,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Medpace during the fourth quarter worth about $33,000. Finally, IFP Advisors Inc lifted its position in shares of Medpace by 144.3% during the third quarter. IFP Advisors Inc now owns 171 shares of the company’s stock worth $41,000 after purchasing an additional 101 shares during the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of Medpace from a “hold” rating to a “buy” rating in a research note on Tuesday. Robert W. Baird increased their price objective on shares of Medpace from $446.00 to $454.00 and gave the stock an “outperform” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Medpace in a research note on Monday, March 18th. They set a “hold” rating and a $395.00 price objective on the stock. Guggenheim increased their price objective on shares of Medpace from $453.00 to $464.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, UBS Group upgraded shares of Medpace from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $282.00 to $452.00 in a research note on Thursday, February 15th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $443.00.

Insider Activity at Medpace

In related news, VP Susan E. Burwig sold 102 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $403.00, for a total transaction of $41,106.00. Following the transaction, the vice president now owns 15,181 shares in the company, valued at $6,117,943. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Susan E. Burwig sold 102 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $403.00, for a total transaction of $41,106.00. Following the transaction, the vice president now owns 15,181 shares in the company, valued at $6,117,943. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ashley M. Keating sold 250 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $409.87, for a total transaction of $102,467.50. Following the transaction, the director now owns 250 shares in the company, valued at approximately $102,467.50. The disclosure for this sale can be found here. Insiders have sold 189,340 shares of company stock worth $76,651,647 over the last quarter. 20.30% of the stock is currently owned by company insiders.

Medpace Trading Down 2.0 %

Shares of NASDAQ:MEDP opened at $389.77 on Friday. The firm’s 50 day moving average is $397.75 and its two-hundred day moving average is $324.12. Medpace Holdings, Inc. has a 52 week low of $189.30 and a 52 week high of $421.00. The firm has a market capitalization of $12.08 billion, a P/E ratio of 39.73, a PEG ratio of 2.04 and a beta of 1.38.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, April 22nd. The company reported $3.20 EPS for the quarter, beating the consensus estimate of $2.45 by $0.75. Medpace had a net margin of 15.92% and a return on equity of 59.74%. The company had revenue of $511.00 million for the quarter, compared to analyst estimates of $512.39 million. During the same quarter last year, the business earned $2.27 earnings per share. Medpace’s revenue was up 17.7% compared to the same quarter last year. Analysts predict that Medpace Holdings, Inc. will post 11.13 EPS for the current year.

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.