Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Purchased by Putnam Investments LLC

Posted by Defense World Staff on Sep 15th, 2023

Putnam Investments LLC lifted its position in Medpace Holdings, Inc. (NASDAQ:MEDP – Free Report) by 0.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,041 shares of the company’s stock after purchasing an additional 290 shares during the period. Putnam Investments LLC owned about 0.31% of Medpace worth $17,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in MEDP. Envestnet Asset Management Inc. lifted its stake in shares of Medpace by 720.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 403,117 shares of the company’s stock valued at $8,053,000 after purchasing an additional 353,955 shares during the period. Wasatch Advisors Inc. raised its position in 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 acquiring an additional 294,103 shares during the period. Millennium Management LLC raised its position in Medpace by 102.3% during the fourth quarter. Millennium Management LLC now owns 450,938 shares of the company’s stock worth $95,784,000 after acquiring an additional 228,001 shares during the period. Wasatch Advisors LP raised its position in Medpace by 13.5% during the first quarter. Wasatch Advisors LP now owns 1,858,654 shares of the company’s stock worth $349,520,000 after acquiring an additional 220,836 shares during the period. Finally, Norges Bank acquired a new position in Medpace during the fourth quarter worth $43,977,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. UBS Group upped their price objective on shares of Medpace from $215.00 to $270.00 in a research report on Wednesday, July 26th. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research report on Saturday, September 2nd. Guggenheim upped their target price on shares of Medpace from $252.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday, July 25th. Finally, Robert W. Baird upped their target price on shares of Medpace from $240.00 to $250.00 in a report on Friday, September 8th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $264.33.

View Our Latest Analysis on MEDP

Insider Activity at Medpace

In related news, CFO Kevin M. Brady sold 7,000 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $255.00, for a total value of $1,785,000.00. Following the completion of the sale, the chief financial officer now owns 6,000 shares of the company’s stock, valued at $1,530,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Medpace news, General Counsel Stephen P. Ewald sold 21,850 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $254.39, for a total transaction of $5,558,421.50. Following the completion of the transaction, the general counsel now owns 14,854 shares of the company’s stock, valued at $3,778,709.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kevin M. Brady sold 7,000 shares of the stock in a transaction dated 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 directly owns 6,000 shares of the company’s stock, valued at approximately $1,530,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,632 shares of company stock valued at $11,004,885. 25.70% of the stock is owned by company insiders.

Medpace Stock Down 0.6 %

Medpace stock opened at $280.03 on Friday. Medpace Holdings, Inc. has a 52-week low of $141.30 and a 52-week high of $282.73. The firm has a market capitalization of $8.56 billion, a price-to-earnings ratio of 33.46 and a beta of 1.37. The company has a fifty day simple moving average of $258.13 and a 200-day simple moving average of $222.32.

Medpace (NASDAQ:MEDP – Get Free Report) last announced its quarterly earnings data on Monday, July 24th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. Medpace had a net margin of 16.06% and a return on equity of 72.88%. The firm had revenue of $460.90 million during the quarter, compared to analyst estimates of $433.75 million. During the same quarter in the prior year, the firm posted $1.46 earnings per share. Medpace’s quarterly revenue was up 31.2% on a year-over-year basis. On average, research analysts anticipate that Medpace Holdings, Inc. will post 8.39 EPS for the current fiscal year.

Medpace Company Profile

(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.