Federated Investors Inc. PA Boosts Stake in Medpace Holdings, Inc. (MEDP)
Federated Investors Inc. PA boosted its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,469 shares of the company’s stock after buying an additional 5,554 shares during the period. Federated Investors Inc. PA owned approximately 0.45% of Medpace Holdings worth $5,350,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of MEDP. Schwab Charles Investment Management Inc. raised its position in shares of Medpace Holdings by 0.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 28,074 shares of the company’s stock worth $815,000 after buying an additional 152 shares in the last quarter. Tudor Investment Corp ET AL raised its position in shares of Medpace Holdings by 16.4% in the first quarter. Tudor Investment Corp ET AL now owns 6,864 shares of the company’s stock worth $205,000 after buying an additional 967 shares in the last quarter. Rhumbline Advisers raised its position in shares of Medpace Holdings by 13.3% in the second quarter. Rhumbline Advisers now owns 9,726 shares of the company’s stock worth $282,000 after buying an additional 1,140 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Medpace Holdings by 9.1% in the first quarter. Teachers Advisors LLC now owns 27,271 shares of the company’s stock worth $814,000 after buying an additional 2,278 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Medpace Holdings by 15.1% in the first quarter. Bank of New York Mellon Corp now owns 35,062 shares of the company’s stock worth $1,047,000 after buying an additional 4,609 shares in the last quarter. 15.98% of the stock is currently owned by institutional investors.
Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) opened at 32.93 on Friday. The firm has a market cap of $1.30 billion and a price-to-earnings ratio of 57.98. Medpace Holdings, Inc. has a 12-month low of $21.76 and a 12-month high of $38.94. The firm has a 50-day moving average price of $30.46 and a 200-day moving average price of $29.17.
Medpace Holdings (NASDAQ:MEDP) last posted its earnings results on Monday, July 31st. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.30 by $0.08. Medpace Holdings had a return on equity of 9.32% and a net margin of 5.37%. The company had revenue of $94.60 million for the quarter, compared to the consensus estimate of $92.71 million. During the same quarter in the prior year, the business earned $0.45 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Medpace Holdings, Inc. will post $1.43 EPS for the current year.
A number of brokerages have recently commented on MEDP. Zacks Investment Research raised Medpace Holdings from a “sell” rating to a “hold” rating and set a $33.00 price objective on the stock in a report on Thursday, August 3rd. Jefferies Group LLC reissued a “hold” rating and set a $31.00 price objective (up previously from $30.00) on shares of Medpace Holdings in a report on Wednesday, August 2nd. Credit Suisse Group reissued an “outperform” rating and set a $36.00 price objective (up previously from $35.00) on shares of Medpace Holdings in a report on Tuesday, June 6th. Finally, ValuEngine lowered Medpace Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $34.00.
In other news, major shareholder Medpace Limited Partnership sold 2,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $30.27, for a total value of $60,540,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 25.80% of the stock is currently owned by corporate insiders.
About Medpace Holdings
Medpace Holdings, Inc is a clinical contract research organization. The Company provides clinical research-based drug and medical device development services. The Company partners with pharmaceutical, biotechnology, and medical device companies in the development and execution of clinical trials. The Company’s drug development services focus on full service Phase I-IV clinical development services and include 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.
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