Wealth Enhancement Advisory Services LLC Acquires 9,117 Shares of Medpace Holdings, Inc. $MEDP

Wealth Enhancement Advisory Services LLC grew its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 150.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,193 shares of the company’s stock after purchasing an additional 9,117 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.05% of Medpace worth $8,080,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Medpace during the 2nd quarter worth about $66,597,000. Clarkston Capital Partners LLC acquired a new position in Medpace during the second quarter valued at approximately $40,569,000. Mawer Investment Management Ltd. grew its stake in Medpace by 17.4% in the second quarter. Mawer Investment Management Ltd. now owns 817,432 shares of the company’s stock valued at $256,559,000 after purchasing an additional 121,213 shares in the last quarter. Bares Capital Management Inc. increased its position in shares of Medpace by 319.2% during the 2nd quarter. Bares Capital Management Inc. now owns 157,084 shares of the company’s stock worth $49,302,000 after purchasing an additional 119,608 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Medpace by 79.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 265,270 shares of the company’s stock worth $83,258,000 after purchasing an additional 117,301 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MEDP shares. Barclays raised their target price on shares of Medpace from $485.00 to $525.00 and gave the company an “underweight” rating in a research note on Monday, December 15th. Zacks Research downgraded shares of Medpace from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. BMO Capital Markets initiated coverage on shares of Medpace in a report on Thursday, November 13th. They issued a “market perform” rating and a $600.00 target price on the stock. Wall Street Zen upgraded shares of Medpace from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Medpace in a research report on Friday, October 31st. Two research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $491.27.

Insider Transactions at Medpace

In other news, CEO August J. Troendle sold 668 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $590.69, for a total value of $394,580.92. Following the completion of the sale, the chief executive officer owned 646,184 shares of the company’s stock, valued at approximately $381,694,426.96. The trade was a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Susan E. Burwig sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $609.15, for a total transaction of $12,183,000.00. Following the transaction, the vice president directly owned 27,500 shares in the company, valued at approximately $16,751,625. This represents a 42.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 387,925 shares of company stock valued at $233,386,647. 20.30% of the stock is currently owned by corporate insiders.

Medpace Stock Performance

Shares of MEDP stock opened at $588.05 on Friday. The company has a market capitalization of $16.57 billion, a price-to-earnings ratio of 41.12, a PEG ratio of 1.97 and a beta of 1.43. Medpace Holdings, Inc. has a 52 week low of $250.05 and a 52 week high of $628.92. The company has a 50-day simple moving average of $583.65 and a 200 day simple moving average of $521.26.

Medpace (NASDAQ:MEDP) last posted its earnings results on Wednesday, October 22nd. The company reported $3.86 EPS for the quarter, beating the consensus estimate of $3.50 by $0.36. The company had revenue of $659.90 million for the quarter, compared to the consensus estimate of $640.49 million. Medpace had a return on equity of 91.88% and a net margin of 18.36%.The firm’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.01 earnings per share. Sell-side analysts forecast that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

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.