First Horizon Advisors Inc. lifted its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 18.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 839 shares of the company’s stock after acquiring an additional 129 shares during the period. First Horizon Advisors Inc.’s holdings in Medpace were worth $137,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. Monarch Partners Asset Management LLC bought a new stake in shares of Medpace during the 1st quarter worth approximately $653,000. Synovus Financial Corp bought a new position in Medpace in the 1st quarter valued at approximately $475,000. GW&K Investment Management LLC lifted its stake in Medpace by 11.0% in the 1st quarter. GW&K Investment Management LLC now owns 350,623 shares of the company’s stock valued at $57,520,000 after purchasing an additional 34,780 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Medpace by 28.3% in the 1st quarter. Russell Investments Group Ltd. now owns 107,934 shares of the company’s stock valued at $17,680,000 after purchasing an additional 23,834 shares during the last quarter. Finally, State of Tennessee Treasury Department lifted its stake in Medpace by 65.6% in the 1st quarter. State of Tennessee Treasury Department now owns 36,907 shares of the company’s stock valued at $6,055,000 after purchasing an additional 14,626 shares during the last quarter. 77.76% of the stock is owned by institutional investors.
In related news, General Counsel Stephen P. Ewald sold 1,200 shares of the stock in a transaction on Wednesday, April 14th. The shares were sold at an average price of $180.67, for a total transaction of $216,804.00. Following the transaction, the general counsel now directly owns 15,054 shares of the company’s stock, valued at $2,719,806.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Medpace Investors, Llc sold 31,270 shares of the stock in a transaction on Thursday, April 15th. The stock was sold at an average price of $186.65, for a total transaction of $5,836,545.50. Following the transaction, the insider now directly owns 6,453,482 shares in the company, valued at $1,204,542,415.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,410 shares of company stock valued at $26,313,942. 22.00% of the stock is currently owned by corporate insiders.
Shares of NASDAQ MEDP opened at $173.44 on Friday. Medpace Holdings, Inc. has a 52-week low of $80.80 and a 52-week high of $196.12. The company has a 50 day simple moving average of $170.55. The firm has a market cap of $6.24 billion, a PE ratio of 41.10 and a beta of 1.34.
Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Sunday, April 25th. The company reported $1.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.13. Medpace had a net margin of 16.73% and a return on equity of 20.73%. The company had revenue of $260.00 million during the quarter, compared to analysts’ expectations of $266.48 million. During the same period in the prior year, the company posted $0.76 earnings per share. Medpace’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, equities research analysts expect that Medpace Holdings, Inc. will post 4.39 earnings per share for the current fiscal year.
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 also provides clinical development services to the biotechnology, pharmaceutical, 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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