New York State Common Retirement Fund Reduces Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

New York State Common Retirement Fund reduced its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 14.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,008 shares of the company’s stock after selling 12,203 shares during the quarter. New York State Common Retirement Fund owned about 0.23% of Medpace worth $21,766,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Medpace by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,897 shares of the company’s stock valued at $2,114,000 after buying an additional 148 shares in the last quarter. Portside Wealth Group LLC lifted its stake in shares of Medpace by 14.8% during the 4th quarter. Portside Wealth Group LLC now owns 1,419 shares of the company’s stock valued at $435,000 after buying an additional 183 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Medpace by 355.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,555 shares of the company’s stock valued at $1,090,000 after buying an additional 2,774 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Medpace during the 4th quarter valued at approximately $1,992,000. Finally, Chase Investment Counsel Corp lifted its stake in shares of Medpace by 3.2% during the 3rd quarter. Chase Investment Counsel Corp now owns 9,849 shares of the company’s stock valued at $2,384,000 after buying an additional 301 shares in the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on MEDP shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Medpace in a research note on Monday, March 18th. They issued a “hold” rating and a $395.00 target price on the stock. UBS Group upgraded shares of Medpace from a “neutral” rating to a “buy” rating and increased their target price for the stock from $282.00 to $452.00 in a research note on Thursday, February 15th. Robert W. Baird increased their target price on shares of Medpace from $446.00 to $454.00 and gave the stock an “outperform” rating in a research note on Wednesday. Guggenheim increased their target price on shares of Medpace from $453.00 to $464.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, StockNews.com upgraded shares of Medpace from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Medpace has an average rating of “Moderate Buy” and an average price target of $443.00.

Medpace Price Performance

Shares of NASDAQ:MEDP opened at $395.93 on Friday. The company’s fifty day moving average price is $397.83 and its 200-day moving average price is $325.70. The firm has a market capitalization of $12.27 billion, a price-to-earnings ratio of 40.36, a PEG ratio of 1.97 and a beta of 1.38. Medpace Holdings, Inc. has a one year low of $189.30 and a one year high of $421.00.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, April 22nd. The company reported $3.20 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.75. Medpace had a net margin of 15.92% and a return on equity of 59.74%. 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 firm earned $2.27 EPS. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, equities research analysts expect that Medpace Holdings, Inc. will post 11.23 EPS for the current year.

Insider Activity at Medpace

In related news, CEO August J. Troendle sold 100,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total transaction of $41,298,000.00. Following the transaction, the chief executive officer now owns 4,833,019 shares of the company’s stock, valued at approximately $1,995,940,186.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Medpace news, major shareholder Medpace Investors, Llc sold 50,000 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $391.75, for a total transaction of $19,587,500.00. Following the completion of the sale, the insider now owns 5,539,947 shares of the company’s stock, valued at approximately $2,170,274,237.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO August J. Troendle sold 100,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total transaction of $41,298,000.00. Following the sale, the chief executive officer now directly owns 4,833,019 shares of the company’s stock, valued at approximately $1,995,940,186.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 189,340 shares of company stock valued at $76,651,647. Insiders own 20.30% of the company’s stock.

Medpace Company Profile

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.