Harbor Investment Advisory LLC lessened its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP – Get Rating) by 20.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 437 shares of the company's stock after selling 111 shares during the quarter. Harbor Investment Advisory LLC's holdings in Medpace were worth $65,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust purchased a new stake in Medpace in the 2nd quarter valued at about $50,000. Private Advisor Group LLC grew its holdings in Medpace by 21.4% in the 2nd quarter. Private Advisor Group LLC now owns 1,406 shares of the company's stock valued at $210,000 after buying an additional 248 shares during the period. Riverbridge Partners LLC grew its holdings in Medpace by 44.1% in the 2nd quarter. Riverbridge Partners LLC now owns 481,404 shares of the company's stock valued at $72,052,000 after buying an additional 147,225 shares during the period. Procyon Advisors LLC grew its holdings in Medpace by 5.6% in the 2nd quarter. Procyon Advisors LLC now owns 1,375 shares of the company's stock valued at $206,000 after buying an additional 73 shares during the period. Finally, Bank of America Corp DE grew its holdings in Medpace by 2.6% in the 1st quarter. Bank of America Corp DE now owns 155,128 shares of the company's stock valued at $25,377,000 after buying an additional 3,914 shares during the period. Hedge funds and other institutional investors own 83.97% of the company's stock.
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Analysts Set New Price Targets
Several analysts have commented on the company. StockNews.com cut Medpace from a "buy" rating to a "hold" rating in a report on Thursday, September 8th. UBS Group assumed coverage on Medpace in a report on Wednesday, September 7th. They issued a "sell" rating and a $142.00 price target for the company.
Medpace Stock Performance
Shares of NASDAQ:MEDP opened at $148.53 on Wednesday. Medpace Holdings, Inc. has a 1 year low of $126.94 and a 1 year high of $231.00. The stock has a market capitalization of $4.60 billion, a P/E ratio of 25.79 and a beta of 1.47. The stock has a 50-day simple moving average of $161.26 and a 200-day simple moving average of $152.83.
Medpace (NASDAQ:MEDP – Get Rating) last issued its earnings results on Monday, July 25th. The company reported $1.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.12. Medpace had a return on equity of 30.56% and a net margin of 16.27%. The business had revenue of $351.21 million during the quarter, compared to analysts' expectations of $344.01 million. During the same quarter in the previous year, the business earned $1.06 EPS. The company's revenue for the quarter was up 26.2% on a year-over-year basis. Analysts predict that Medpace Holdings, Inc. will post 6.16 earnings per share for the current year.
Insider Transactions at Medpace
In other news, CEO August J. Troendle bought 22,290 shares of the firm's stock in a transaction dated Thursday, July 14th. The stock was acquired at an average price of $144.59 per share, for a total transaction of $3,222,911.10. Following the acquisition, the chief executive officer now owns 5,505,309 shares of the company's stock, valued at $796,012,628.31. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO August J. Troendle purchased 22,290 shares of Medpace stock in a transaction that occurred on Thursday, July 14th. The shares were purchased at an average cost of $144.59 per share, with a total value of $3,222,911.10. Following the transaction, the chief executive officer now owns 5,505,309 shares of the company's stock, valued at approximately $796,012,628.31. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Medpace Investors, Llc purchased 62,516 shares of Medpace stock in a transaction that occurred on Tuesday, September 13th. The shares were bought at an average cost of $157.12 per share, for a total transaction of $9,822,513.92. Following the completion of the transaction, the insider now directly owns 5,955,688 shares in the company, valued at approximately $935,757,698.56. The disclosure for this purchase can be found here. In the last quarter, insiders bought 520,388 shares of company stock worth $81,752,898. 20.60% of the stock is currently owned by company insiders.
About Medpace
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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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