Creative Planning Purchases 1,454 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Posted by Defense World Staff on Jun 5th, 2023

Creative Planning boosted its position in Medpace Holdings, Inc. (NASDAQ:MEDP – Get Rating) by 29.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,403 shares of the company’s stock after acquiring an additional 1,454 shares during the quarter. Creative Planning’s holdings in Medpace were worth $1,360,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MEDP. Wasatch Advisors Inc. boosted its holdings in shares of Medpace by 12.1% during the first quarter. Wasatch Advisors Inc. now owns 2,728,392 shares of the company’s stock worth $446,338,000 after purchasing an additional 294,103 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Medpace by 2,058.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 287,194 shares of the company’s stock worth $45,138,000 after purchasing an additional 273,887 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Medpace by 144.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 369,939 shares of the company’s stock worth $78,578,000 after purchasing an additional 218,554 shares during the period. Lord Abbett & CO. LLC purchased a new stake in shares of Medpace during the fourth quarter worth about $23,153,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Medpace by 32.4% during the second quarter. Goldman Sachs Group Inc. now owns 390,038 shares of the company’s stock worth $58,377,000 after purchasing an additional 95,524 shares during the period. Institutional investors own 82.49% of the company’s stock.

Medpace Stock Performance

MEDP stock opened at $212.06 on Monday. The firm has a 50 day moving average price of $199.22 and a 200-day moving average price of $206.18. Medpace Holdings, Inc. has a 52-week low of $130.79 and a 52-week high of $241.48. The firm has a market capitalization of $6.47 billion, a price-to-earnings ratio of 26.84 and a beta of 1.42.

Medpace (NASDAQ:MEDP – Get Rating) last released its earnings results on Monday, April 24th. The company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.51. The firm had revenue of $434.07 million during the quarter, compared to analyst estimates of $402.83 million. Medpace had a net margin of 16.44% and a return on equity of 75.20%. The business’s revenue was up 31.2% on a year-over-year basis. During the same period last year, the business earned $1.69 earnings per share. As a group, sell-side analysts forecast that Medpace Holdings, Inc. will post 8.11 earnings per share for the current fiscal year.

Insider Activity at Medpace

In related news, CEO August J. Troendle sold 31,648 shares of the firm’s stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $221.83, for a total transaction of $7,020,475.84. Following the completion of the sale, the chief executive officer now owns 6,451,371 shares of the company’s stock, valued at $1,431,107,628.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 25.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MEDP has been the subject of several research analyst reports. Guggenheim upgraded shares of Medpace from a “neutral” rating to a “buy” rating and set a $252.00 price objective for the company in a report on Monday, May 8th. Robert W. Baird raised their price objective on shares of Medpace from $226.00 to $233.00 and gave the stock a “neutral” rating in a report on Wednesday, February 15th. 22nd Century Group restated an “upgrade” rating on shares of Medpace in a report on Monday, May 8th. Finally, StockNews.com upgraded shares of Medpace from a “hold” rating to a “buy” rating in a report on Friday, May 12th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Medpace currently has a consensus rating of “Moderate Buy” and an average target price of $241.00.

Medpace Profile

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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.