Medpace Holdings, Inc. $MEDP Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lessened its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 50.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,210 shares of the company’s stock after selling 6,245 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Medpace were worth $3,876,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MEDP. Novem Group increased its stake in shares of Medpace by 1.0% during the 3rd quarter. Novem Group now owns 2,127 shares of the company’s stock worth $1,328,000 after purchasing an additional 22 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in Medpace by 3.2% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 783 shares of the company’s stock worth $489,000 after acquiring an additional 24 shares during the period. Balefire LLC increased its holdings in shares of Medpace by 6.1% in the first quarter. Balefire LLC now owns 451 shares of the company’s stock worth $217,000 after purchasing an additional 26 shares during the period. Motley Fool Asset Management LLC raised its holdings in shares of Medpace by 3.3% in the 3rd quarter. Motley Fool Asset Management LLC now owns 819 shares of the company’s stock valued at $511,000 after acquiring an additional 26 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Medpace by 2.8% during the second quarter. GAMMA Investing LLC now owns 1,158 shares of the company’s stock valued at $613,000 after purchasing an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MEDP. Jefferies Financial Group reiterated a “hold” rating on shares of Medpace in a report on Monday, September 14th. Robert W. Baird set a $699.00 price target on shares of Medpace in a research note on Friday, October 23rd. Royal Bank Of Canada boosted their target price on shares of Medpace from $484.00 to $692.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Weiss Ratings raised shares of Medpace from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Finally, BMO Capital Markets upped their price objective on shares of Medpace from $600.00 to $670.00 and gave the stock a “market perform” rating in a report on Monday, October 26th. Three equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $649.27.

Insider Activity at Medpace

In related news, VP Susan E. Burwig sold 16,060 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $677.00, for a total transaction of $10,872,620.00. Following the completion of the sale, the vice president owned 57,624 shares of the company’s stock, valued at $39,011,448. This trade represents a 21.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO August J. Troendle sold 49,018 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $628.11, for a total transaction of $30,788,695.98. Following the completion of the transaction, the chief executive officer owned 433,372 shares of the company’s stock, valued at approximately $272,205,286.92. The trade was a 10.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 337,113 shares of company stock worth $210,232,507. Insiders own 20.50% of the company’s stock.

Medpace Price Performance

Shares of Medpace stock opened at $653.11 on Monday. The stock has a market cap of $18.27 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 2.53 and a beta of 1.12. The firm’s 50-day moving average is $622.54 and its 200 day moving average is $532.32. Medpace Holdings, Inc. has a 1 year low of $373.00 and a 1 year high of $693.97.

Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Wednesday, October 21st. The company reported $4.84 earnings per share for the quarter, beating analysts’ consensus estimates of $4.44 by $0.40. The business had revenue of $716.00 million during the quarter, compared to analyst estimates of $714.47 million. Medpace had a net margin of 18.24% and a return on equity of 99.76%. Medpace’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business earned $3.86 EPS. On average, equities analysts expect that Medpace Holdings, Inc. will post 18.06 EPS for the current fiscal year.

Medpace Company Profile

Medpace Holdings, Inc is a global contract research organization (CRO) that provides clinical development services to the biotechnology, pharmaceutical and medical device industries. Founded in 1992 and headquartered in Cincinnati, Ohio, the company works with clients developing treatments and medical products across a range of therapeutic areas.

Medpace offers services spanning the clinical development process, including clinical trial planning and management, regulatory affairs, clinical laboratory testing, data management, biostatistics, medical writing and pharmacovigilance.