JPMorgan Chase & Co. Increases Stake in Medpace Holdings Inc (MEDP)

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JPMorgan Chase & Co. grew its stake in shares of Medpace Holdings Inc (NASDAQ:MEDP) by 27.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 134,620 shares of the company’s stock after purchasing an additional 28,849 shares during the period. JPMorgan Chase & Co.’s holdings in Medpace were worth $8,065,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MEDP. BlackRock Inc. raised its holdings in shares of Medpace by 42.1% during the third quarter. BlackRock Inc. now owns 2,282,063 shares of the company’s stock valued at $136,719,000 after purchasing an additional 676,396 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Medpace in the 3rd quarter worth about $37,292,000. Penserra Capital Management LLC acquired a new stake in shares of Medpace in the 3rd quarter worth about $17,256,000. Bank of New York Mellon Corp raised its holdings in shares of Medpace by 282.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 326,241 shares of the company’s stock worth $19,545,000 after acquiring an additional 240,900 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Medpace by 14.2% in the 3rd quarter. Acadian Asset Management LLC now owns 1,464,121 shares of the company’s stock worth $87,717,000 after acquiring an additional 182,588 shares during the last quarter. Hedge funds and other institutional investors own 80.32% of the company’s stock.

In other Medpace news, major shareholder Medpace Investors, Llc sold 103,013 shares of the company’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $65.72, for a total value of $6,770,014.36. Following the completion of the sale, the insider now directly owns 7,770,045 shares of the company’s stock, valued at approximately $510,647,357.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO August J. Troendle sold 600 shares of the company’s stock in a transaction dated Tuesday, January 15th. The stock was sold at an average price of $61.00, for a total transaction of $36,600.00. Following the completion of the sale, the chief executive officer now directly owns 603,702 shares of the company’s stock, valued at $36,825,822. The disclosure for this sale can be found here. Insiders sold a total of 660,817 shares of company stock valued at $41,996,365 over the last ninety days. 29.50% of the stock is currently owned by insiders.

MEDP opened at $70.34 on Wednesday. Medpace Holdings Inc has a fifty-two week low of $31.75 and a fifty-two week high of $70.78. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $2.51 billion, a P/E ratio of 46.28, a price-to-earnings-growth ratio of 1.49 and a beta of 1.76.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Medpace from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. BidaskClub lowered shares of Medpace from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 31st. ValuEngine lowered shares of Medpace from a “buy” rating to a “hold” rating in a report on Thursday, December 6th. Finally, SunTrust Banks upgraded shares of Medpace from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Wednesday, October 31st. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $44.43.

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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.

Read More: How does a 12b-1 fee affect fund performance?

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Institutional Ownership by Quarter for Medpace (NASDAQ:MEDP)

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