Versor Investments LP boosted its stake in Medpace Holdings, Inc. (NASDAQ:MEDP – Free Report) by 150.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,501 shares of the company’s stock after acquiring an additional 1,502 shares during the quarter. Versor Investments LP’s holdings in Medpace were worth $1,286,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. NewEdge Advisors LLC increased its holdings in shares of Medpace by 22.1% during the first quarter. NewEdge Advisors LLC now owns 1,048 shares of the company’s stock worth $319,000 after buying an additional 190 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Medpace by 3.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 81,817 shares of the company’s stock worth $24,929,000 after acquiring an additional 3,010 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Medpace by 64.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $29,000 after purchasing an additional 37 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Medpace in the second quarter valued at about $296,000. Finally, IFP Advisors Inc raised its position in Medpace by 223.3% in the second quarter. IFP Advisors Inc now owns 194 shares of the company’s stock valued at $61,000 after purchasing an additional 134 shares during the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.
Medpace Stock Performance
Shares of NASDAQ MEDP opened at $530.35 on Tuesday. The company’s 50 day moving average price is $578.30 and its 200-day moving average price is $539.57. Medpace Holdings, Inc. has a 52-week low of $250.05 and a 52-week high of $628.92. The company has a market capitalization of $14.94 billion, a P/E ratio of 37.09, a price-to-earnings-growth ratio of 1.82 and a beta of 1.42.
Insider Transactions at Medpace
In related news, VP Susan E. Burwig sold 20,000 shares of the company’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 sale, the vice president owned 27,500 shares in the company, valued at $16,751,625. This represents a 42.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO August J. Troendle sold 59,025 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $607.78, for a total value of $35,874,214.50. Following the sale, the chief executive officer directly owned 774,602 shares of the company’s stock, valued at $470,787,603.56. This represents a 7.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 302,192 shares of company stock worth $182,019,762 over the last three months. 20.30% of the stock is owned by company insiders.
Analyst Ratings Changes
Several research firms have recently weighed in on MEDP. Wall Street Zen upgraded Medpace from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. BMO Capital Markets began coverage on shares of Medpace in a report on Thursday, November 13th. They set a “market perform” rating and a $600.00 target price on the stock. Truist Financial set a $555.00 price target on shares of Medpace in a research note on Monday, October 27th. Barclays lifted their price target on shares of Medpace from $485.00 to $525.00 and gave the stock an “underweight” rating in a report on Monday, December 15th. Finally, Mizuho set a $660.00 price objective on Medpace in a report on Friday, January 9th. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $491.27.
Get Our Latest Research Report on MEDP
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.
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