Kornitzer Capital Management Inc. KS Sells 6,245 Shares of Medpace Holdings, Inc. $MEDP

Kornitzer Capital Management Inc. KS trimmed its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 50.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,210 shares of the company’s stock after selling 6,245 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Medpace were worth $3,876,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of MEDP. Johnson Financial Group Inc. acquired a new position in shares of Medpace during the second quarter worth about $27,000. Jones Financial Companies Lllp bought a new position in shares of Medpace during the second quarter worth about $30,000. Allied Private Wealth LLC bought a new position in shares of Medpace during the second quarter worth about $31,000. Kilter Group LLC acquired a new stake in Medpace in the 2nd quarter valued at approximately $31,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Medpace in the 2nd quarter valued at approximately $34,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Insider Buying and Selling

In other Medpace news, CEO August J. Troendle sold 49,018 shares of Medpace stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $628.11, for a total value of $30,788,695.98. Following the completion of the sale, the chief executive officer owned 433,372 shares in the company, valued at $272,205,286.92. The trade was a 10.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Susan E. Burwig sold 16,060 shares of Medpace 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 approximately $39,011,448. The trade was a 21.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 337,113 shares of company stock worth $210,232,507. 20.50% of the stock is owned by corporate insiders.

Medpace Price Performance

Shares of NASDAQ MEDP opened at $653.11 on Monday. The company has a market cap of $18.27 billion, a PE ratio of 36.20, a price-to-earnings-growth ratio of 2.53 and a beta of 1.12. Medpace Holdings, Inc. has a twelve month low of $373.00 and a twelve month high of $693.97. The business’s 50 day moving average price is $622.54 and its two-hundred day moving average price is $532.32.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $4.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.44 by $0.40. The business had revenue of $716.00 million during the quarter, compared to the consensus estimate of $714.47 million. Medpace had a return on equity of 99.76% and a net margin of 18.24%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $3.86 EPS. As a group, research analysts anticipate that Medpace Holdings, Inc. will post 18.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MEDP shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $535.00 target price on shares of Medpace in a research note on Thursday, July 23rd. Leerink Partners set a $620.00 price target on shares of Medpace in a research note on Thursday, July 23rd. BMO Capital Markets lifted their price objective on shares of Medpace from $600.00 to $670.00 and gave the company a “market perform” rating in a report on Monday, October 26th. Barclays lifted their price objective on shares of Medpace from $625.00 to $675.00 and gave the company an “equal weight” rating in a report on Friday, October 23rd. Finally, Robert W. Baird set a $699.00 price objective on shares of Medpace in a research report on Friday, October 23rd. Three investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $649.27.

Medpace 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.