New York State Teachers Retirement System Raises Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Posted by Defense World Staff on Jul 22nd, 2023

New York State Teachers Retirement System raised its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP – Free Report) by 0.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,682 shares of the company’s stock after purchasing an additional 97 shares during the period. New York State Teachers Retirement System owned 0.11% of Medpace worth $6,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MEDP. Rice Hall James & Associates LLC grew its stake in shares of Medpace by 12.1% during the first quarter. Rice Hall James & Associates LLC now owns 183,556 shares of the company’s stock valued at $30,028,000 after buying an additional 19,884 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Medpace by 28.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,581 shares of the company’s stock valued at $259,000 after buying an additional 349 shares during the last quarter. Cetera Advisor Networks LLC grew its stake in shares of Medpace by 26.1% during the first quarter. Cetera Advisor Networks LLC now owns 2,304 shares of the company’s stock valued at $377,000 after buying an additional 477 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Medpace by 2.4% during the first quarter. Rhumbline Advisers now owns 78,755 shares of the company’s stock valued at $12,884,000 after buying an additional 1,827 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Medpace by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,537 shares of the company’s stock valued at $1,724,000 after buying an additional 1,005 shares during the last quarter. 82.14% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Medpace news, CEO August J. Troendle sold 49,347 shares of the company’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $220.85, for a total transaction of $10,898,284.95. Following the completion of the sale, the chief executive officer now owns 6,233,019 shares in the company, valued at $1,376,562,246.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO August J. Troendle sold 49,347 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $220.85, for a total transaction of $10,898,284.95. Following the completion of the sale, the chief executive officer now owns 6,233,019 shares in the company, valued at approximately $1,376,562,246.15. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO August J. Troendle sold 31,648 shares of the stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $221.83, for a total value of $7,020,475.84. Following the sale, the chief executive officer now owns 6,451,371 shares of the company’s stock, valued at approximately $1,431,107,628.93. The disclosure for this sale can be found here. 25.70% of the stock is owned by company insiders.

Medpace Stock Down 0.7 %

Shares of NASDAQ:MEDP opened at $245.28 on Friday. The business’s 50 day moving average is $223.77 and its 200 day moving average is $210.98. The stock has a market cap of $7.48 billion, a P/E ratio of 31.05 and a beta of 1.43. Medpace Holdings, Inc. has a 52-week low of $141.30 and a 52-week high of $252.40.

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. StockNews.com raised Medpace from a “hold” rating to a “buy” rating in a research note on Friday, May 12th. 22nd Century Group reissued an “upgrade” rating on shares of Medpace in a research note on Monday, May 8th. Finally, Guggenheim raised Medpace from a “neutral” rating to a “buy” rating and set a $252.00 price objective on the stock in a research note on Monday, May 8th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Medpace presently has a consensus rating of “Moderate Buy” and an average price target of $241.00.

About Medpace

(Free Report)

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. It offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. The company also 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.