Sequoia Financial Advisors LLC Decreases Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Sequoia Financial Advisors LLC lowered its position in Medpace Holdings, Inc. (NASDAQ:MEDPFree Report) by 74.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 497 shares of the company’s stock after selling 1,467 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Medpace were worth $201,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MEDP. Wellington Management Group LLP lifted its stake in Medpace by 312.6% in the third quarter. Wellington Management Group LLP now owns 421,313 shares of the company’s stock valued at $102,013,000 after buying an additional 319,210 shares during the last quarter. TD Asset Management Inc lifted its stake in Medpace by 195.2% in the fourth quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock valued at $143,162,000 after buying an additional 308,816 shares during the last quarter. Findlay Park Partners LLP purchased a new stake in Medpace in the first quarter valued at approximately $90,247,000. Norges Bank purchased a new stake in Medpace in the fourth quarter valued at approximately $59,163,000. Finally, Epoch Investment Partners Inc. lifted its stake in Medpace by 82.3% in the fourth quarter. Epoch Investment Partners Inc. now owns 352,463 shares of the company’s stock valued at $108,040,000 after buying an additional 159,144 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Price Performance

Shares of MEDP stock opened at $419.05 on Thursday. The business’s fifty day moving average price is $398.76 and its 200 day moving average price is $373.02. Medpace Holdings, Inc. has a 1-year low of $227.21 and a 1-year high of $437.39. The firm has a market capitalization of $12.98 billion, a PE ratio of 42.72, a P/E/G ratio of 2.01 and a beta of 1.36.

Medpace (NASDAQ:MEDPGet Free Report) last announced its quarterly earnings data on Monday, April 22nd. The company reported $3.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.75. Medpace had a return on equity of 59.74% and a net margin of 15.92%. The firm had revenue of $511.00 million for the quarter, compared to analyst estimates of $512.39 million. During the same quarter in the prior year, the company posted $2.27 earnings per share. Medpace’s quarterly revenue was up 17.7% on a year-over-year basis. Equities research analysts expect that Medpace Holdings, Inc. will post 11.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Medpace news, CEO August J. Troendle sold 5,695 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $395.49, for a total transaction of $2,252,315.55. Following the sale, the chief executive officer now directly owns 654,656 shares in the company, valued at $258,909,901.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Medpace news, CEO August J. Troendle sold 15,102 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $400.69, for a total transaction of $6,051,220.38. Following the sale, the chief executive officer now directly owns 791,541 shares in the company, valued at $317,162,563.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO August J. Troendle sold 5,695 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $395.49, for a total value of $2,252,315.55. Following the sale, the chief executive officer now owns 654,656 shares in the company, valued at $258,909,901.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,621 shares of company stock worth $11,816,852. 20.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft began coverage on Medpace in a research note on Monday, March 18th. They issued a “hold” rating and a $395.00 price objective for the company. Robert W. Baird boosted their target price on Medpace from $456.00 to $469.00 and gave the company an “outperform” rating in a report on Monday. TD Cowen began coverage on Medpace in a report on Wednesday, May 29th. They issued a “buy” rating and a $452.00 target price on the stock. Mizuho began coverage on Medpace in a report on Tuesday, May 28th. They issued a “buy” rating and a $435.00 target price on the stock. Finally, Jefferies Financial Group raised Medpace from a “hold” rating to a “buy” rating and boosted their target price for the company from $340.00 to $450.00 in a report on Tuesday, April 23rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $445.29.

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About Medpace

(Free Report)

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

See Also

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Institutional Ownership by Quarter for Medpace (NASDAQ:MEDP)

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