Sawgrass Asset Management LLC lowered its stake in Medpace Holdings Inc (NASDAQ:MEDP) by 16.9% during the first quarter, HoldingsChannel reports. The firm owned 36,965 shares of the company’s stock after selling 7,530 shares during the period. Sawgrass Asset Management LLC’s holdings in Medpace were worth $2,180,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. LS Investment Advisors LLC purchased a new position in Medpace in the 4th quarter worth about $46,000. SHANDA ASSET MANAGEMENT HOLDINGS Ltd purchased a new position in Medpace in the 4th quarter worth about $87,000. State of Alaska Department of Revenue acquired a new stake in Medpace during the 4th quarter worth about $92,000. NumerixS Investment Technologies Inc acquired a new stake in Medpace during the 4th quarter worth about $119,000. Finally, We Are One Seven LLC acquired a new stake in Medpace during the 4th quarter worth about $130,000. 83.50% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Medpace stock traded down $0.29 during trading on Friday, hitting $55.69. 42,970 shares of the stock traded hands, compared to its average volume of 417,515. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 21.50, a P/E/G ratio of 1.68 and a beta of 1.51. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.69 and a quick ratio of 0.69. Medpace Holdings Inc has a twelve month low of $40.73 and a twelve month high of $71.66.
In related news, CFO Jesse J. Geiger sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $58.20, for a total value of $698,400.00. Following the transaction, the chief financial officer now directly owns 25,037 shares of the company’s stock, valued at approximately $1,457,153.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jesse J. Geiger sold 25,037 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $60.00, for a total value of $1,502,220.00. Following the completion of the transaction, the chief financial officer now directly owns 25,037 shares in the company, valued at $1,502,220. The disclosure for this sale can be found here. Insiders sold a total of 44,983 shares of company stock worth $2,661,091 over the last three months. 24.20% of the stock is owned by company insiders.
Several equities research analysts have recently issued reports on MEDP shares. BidaskClub lowered Medpace from a “strong-buy” rating to a “buy” rating in a report on Friday, February 8th. ValuEngine lowered Medpace from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Wolfe Research started coverage on Medpace in a report on Tuesday, April 2nd. They set an “outperform” rating for the company. Zacks Investment Research upgraded Medpace from a “sell” rating to a “hold” rating and set a $63.00 price target for the company in a report on Wednesday, May 1st. Finally, TheStreet lowered Medpace from a “b” rating to a “c” rating in a report on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $59.25.
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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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