Rhumbline Advisers cut its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP – Free Report) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,071 shares of the company’s stock after selling 548 shares during the quarter. Rhumbline Advisers owned about 0.27% of Medpace worth $15,245,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. UBS Group AG raised its stake in Medpace by 185.1% during the fourth quarter. UBS Group AG now owns 23,896 shares of the company’s stock worth $5,076,000 after purchasing an additional 15,513 shares during the period. LSV Asset Management raised its stake in Medpace by 5,285.2% during the first quarter. LSV Asset Management now owns 54,229 shares of the company’s stock worth $10,198,000 after purchasing an additional 53,222 shares during the period. Icon Wealth Partners LLC purchased a new position in Medpace during the first quarter worth about $338,000. Laffer Tengler Investments purchased a new position in Medpace during the fourth quarter worth about $158,000. Finally, Ausbil Investment Management Ltd purchased a new position in Medpace during the first quarter worth about $1,200,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.
Medpace Stock Down 0.3 %
Shares of MEDP opened at $270.27 on Friday. Medpace Holdings, Inc. has a fifty-two week low of $141.30 and a fifty-two week high of $273.52. The firm’s 50 day moving average price is $249.76 and its 200 day moving average price is $217.55. The company has a market cap of $8.26 billion, a P/E ratio of 32.29 and a beta of 1.37.
Insider Buying and Selling
In related news, CEO August J. Troendle sold 49,347 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $220.85, for a total transaction of $10,898,284.95. Following the sale, the chief executive officer now directly owns 6,233,019 shares of the company’s stock, valued at approximately $1,376,562,246.15. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Medpace news, CEO August J. Troendle sold 49,347 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $220.85, for a total transaction of $10,898,284.95. Following the completion of the transaction, the chief executive officer now owns 6,233,019 shares in the company, valued at approximately $1,376,562,246.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin M. Brady sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $255.00, for a total transaction of $1,785,000.00. Following the transaction, the chief financial officer now owns 6,000 shares of the company’s stock, valued at approximately $1,530,000. The disclosure for this sale can be found here. Insiders have sold a total of 91,979 shares of company stock valued at $21,903,170 in the last ninety days. Company insiders own 25.70% of the company’s stock.
Wall Street Analyst Weigh In
MEDP has been the topic of a number of analyst reports. StockNews.com raised shares of Medpace from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. 22nd Century Group reissued an “upgrade” rating on shares of Medpace in a research note on Monday, May 8th. UBS Group boosted their price target on shares of Medpace from $215.00 to $270.00 in a research note on Wednesday, July 26th. Robert W. Baird boosted their price target on shares of Medpace from $240.00 to $260.00 in a research note on Wednesday, July 26th. Finally, Guggenheim boosted their price target on shares of Medpace from $252.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $267.67.
View Our Latest Analysis on Medpace
About Medpace
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.
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