Medpace Holdings Inc (MEDP) Stake Boosted by Acadian Asset Management LLC

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Acadian Asset Management LLC lifted its stake in Medpace Holdings Inc (NASDAQ:MEDP) by 14.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,464,121 shares of the company’s stock after purchasing an additional 182,588 shares during the quarter. Acadian Asset Management LLC owned 4.12% of Medpace worth $87,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sei Investments Co. increased its holdings in Medpace by 5,087.5% in the 2nd quarter. Sei Investments Co. now owns 4,565 shares of the company’s stock worth $196,000 after buying an additional 4,477 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Medpace in the 2nd quarter worth about $400,000. Laurion Capital Management LP bought a new stake in Medpace in the 2nd quarter worth about $29,230,000. PNC Financial Services Group Inc. increased its holdings in Medpace by 592.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 54,798 shares of the company’s stock worth $2,356,000 after buying an additional 46,890 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Medpace by 24.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 171,323 shares of the company’s stock worth $7,380,000 after buying an additional 34,121 shares in the last quarter. 39.89% of the stock is owned by hedge funds and other institutional investors.

Medpace stock opened at $52.10 on Thursday. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 34.28, a PEG ratio of 1.21 and a beta of 1.02. Medpace Holdings Inc has a 52-week low of $31.70 and a 52-week high of $65.09. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.32.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Tuesday, October 30th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. The business had revenue of $179.00 million during the quarter, compared to the consensus estimate of $175.07 million. Medpace had a return on equity of 16.19% and a net margin of 10.84%. The business’s quarterly revenue was up 44.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 EPS. On average, sell-side analysts expect that Medpace Holdings Inc will post 2.47 earnings per share for the current fiscal year.

In related news, CEO August J. Troendle sold 731,460 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $59.26, for a total transaction of $43,346,319.60. Following the completion of the transaction, the chief executive officer now directly owns 849,621 shares in the company, valued at approximately $50,348,540.46. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Medpace Limited Partnership sold 5,224,997 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $54.75, for a total value of $286,068,585.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,528,016 shares of company stock valued at $634,098,544. 29.50% of the stock is currently owned by corporate insiders.

MEDP has been the subject of several research analyst reports. BidaskClub upgraded Medpace from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 12th. William Blair upgraded Medpace from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 31st. SunTrust Banks initiated coverage on Medpace in a report on Monday, September 17th. They issued a “hold” rating and a $63.00 price objective for the company. TheStreet upgraded Medpace from a “c” rating to a “b-” rating in a report on Friday, August 10th. Finally, Credit Suisse Group lifted their price objective on Medpace from $42.00 to $49.00 and gave the stock an “outperform” rating in a report on Tuesday, July 31st. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $44.43.

Medpace Profile

Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in a range of therapeutic areas.

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Institutional Ownership by Quarter for Medpace (NASDAQ:MEDP)

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