Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama grew its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 0.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 62,106 shares of the company’s stock after buying an additional 204 shares during the period. Retirement Systems of Alabama’s holdings in Medpace were worth $19,037,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RiverPark Advisors LLC acquired a new position in Medpace during the 4th quarter worth approximately $26,000. Contravisory Investment Management Inc. purchased a new stake in shares of Medpace during the 4th quarter worth approximately $26,000. FinTrust Capital Advisors LLC purchased a new stake in shares of Medpace during the 3rd quarter worth approximately $30,000. GAMMA Investing LLC purchased a new stake in shares of Medpace during the 4th quarter worth approximately $30,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Medpace during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Insiders Place Their Bets

In other Medpace news, major shareholder Medpace Investors, Llc sold 50,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $391.75, for a total transaction of $19,587,500.00. Following the transaction, the insider now owns 5,539,947 shares of the company’s stock, valued at approximately $2,170,274,237.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO August J. Troendle sold 100,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $412.98, for a total transaction of $41,298,000.00. Following the completion of the sale, the chief executive officer now directly owns 4,833,019 shares in the company, valued at approximately $1,995,940,186.62. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Medpace Investors, Llc sold 50,000 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $391.75, for a total value of $19,587,500.00. Following the sale, the insider now owns 5,539,947 shares of the company’s stock, valued at $2,170,274,237.25. The disclosure for this sale can be found here. Insiders have sold a total of 189,340 shares of company stock valued at $76,651,647 in the last quarter. 20.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MEDP. UBS Group raised Medpace from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $282.00 to $452.00 in a research note on Thursday, February 15th. Guggenheim boosted their price target on Medpace from $453.00 to $464.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Robert W. Baird boosted their price target on Medpace from $446.00 to $454.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. StockNews.com raised Medpace from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Finally, Jefferies Financial Group raised Medpace from a “hold” rating to a “buy” rating and boosted their price target for the stock from $340.00 to $450.00 in a research note on Tuesday, April 23rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $443.00.

Medpace Stock Performance

MEDP stock opened at $388.35 on Wednesday. Medpace Holdings, Inc. has a 1 year low of $197.39 and a 1 year high of $421.00. The stock’s 50 day moving average price is $398.09 and its 200 day moving average price is $328.45. The firm has a market cap of $12.03 billion, a P/E ratio of 39.59, a PEG ratio of 1.99 and a beta of 1.38.

Medpace (NASDAQ:MEDP) last posted its earnings results 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. Medpace had a return on equity of 59.74% and a net margin of 15.92%. The firm had revenue of $511.00 million for the quarter, compared to analyst estimates of $512.39 million. During the same quarter in the prior year, the company earned $2.27 EPS. Medpace’s revenue was up 17.7% on a year-over-year basis. On average, research analysts predict that Medpace Holdings, Inc. will post 11.23 earnings per share for the current 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.