Quantedge Capital Pte Ltd Sells 3,280 Shares of Medpace Holdings, Inc. $MEDP

Quantedge Capital Pte Ltd cut its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 62.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,000 shares of the company’s stock after selling 3,280 shares during the period. Medpace accounts for 0.5% of Quantedge Capital Pte Ltd’s portfolio, making the stock its 28th largest holding. Quantedge Capital Pte Ltd’s holdings in Medpace were worth $960,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of MEDP. AQR Capital Management LLC grew its holdings in Medpace by 65.1% during the third quarter. AQR Capital Management LLC now owns 1,025,410 shares of the company’s stock worth $518,170,000 after purchasing an additional 404,226 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Medpace by 205.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 314,150 shares of the company’s stock valued at $161,523,000 after buying an additional 211,411 shares during the period. Franklin Resources Inc. raised its stake in Medpace by 158.6% in the fourth quarter. Franklin Resources Inc. now owns 299,472 shares of the company’s stock valued at $168,198,000 after buying an additional 183,645 shares during the period. Norges Bank acquired a new stake in shares of Medpace in the fourth quarter valued at approximately $102,156,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Medpace by 92.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 347,049 shares of the company’s stock valued at $194,920,000 after buying an additional 166,654 shares during the last quarter. 77.98% of the stock is owned by institutional investors.

Medpace Trading Up 0.7%

Medpace stock opened at $531.67 on Wednesday. The company has a market capitalization of $15.18 billion, a price-to-earnings ratio of 33.42, a PEG ratio of 2.64 and a beta of 1.15. Medpace Holdings, Inc. has a 12 month low of $373.00 and a 12 month high of $628.92. The stock’s 50 day moving average is $482.55 and its 200-day moving average is $493.73.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $4.28 earnings per share for the quarter, topping the consensus estimate of $3.74 by $0.54. The business had revenue of $706.60 million during the quarter, compared to analysts’ expectations of $697.82 million. Medpace had a return on equity of 120.89% and a net margin of 17.19%.The firm’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same period last year, the firm posted $3.67 EPS. As a group, equities research analysts predict that Medpace Holdings, Inc. will post 17.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Medpace news, General Counsel Stephen P. Ewald sold 16,349 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $450.00, for a total transaction of $7,357,050.00. Following the transaction, the general counsel owned 20,343 shares in the company, valued at $9,154,350. This trade represents a 44.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 20.50% of the stock is owned by insiders.

Analyst Ratings Changes

MEDP has been the topic of a number of recent analyst reports. Wall Street Zen lowered Medpace from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Jefferies Financial Group downgraded Medpace from a “buy” rating to a “hold” rating and raised their price target for the company from $490.00 to $515.00 in a report on Tuesday, July 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Medpace in a research report on Thursday, July 2nd. BMO Capital Markets decreased their price objective on shares of Medpace from $460.00 to $400.00 and set a “market perform” rating on the stock in a report on Friday, April 24th. Finally, Barclays dropped their price objective on shares of Medpace from $500.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Friday, April 24th. Two investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $469.50.

Medpace Profile

Medpace Holdings, Inc (NASDAQ: MEDP) is a global contract research organization (CRO) that provides comprehensive clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports clinical trials across all phases (I–IV), offering end-to-end solutions designed to streamline the development process and accelerate the delivery of new therapies to market.

Medpace’s core service offerings include clinical pharmacology, regulatory affairs consulting, project management, central laboratory services, imaging, data management and biostatistics, pharmacovigilance and medical writing.