Wasatch Advisors LP lifted its position in Medpace Holdings, Inc. (NASDAQ:MEDP – Free Report) by 19.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 773,931 shares of the company’s stock after acquiring an additional 125,625 shares during the period. Medpace comprises 2.5% of Wasatch Advisors LP’s investment portfolio, making the stock its 4th largest holding. Wasatch Advisors LP’s holdings in Medpace were worth $371,634,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in MEDP. J2 Capital Management Inc bought a new position in Medpace during the 1st quarter valued at about $521,000. Louisiana State Employees Retirement System bought a new stake in Medpace in the first quarter worth about $3,121,000. Global Financial Private Client LLC lifted its stake in Medpace by 20.4% in the first quarter. Global Financial Private Client LLC now owns 1,892 shares of the company’s stock worth $909,000 after purchasing an additional 320 shares during the last quarter. Blue Trust Inc. lifted its stake in Medpace by 26.2% in the first quarter. Blue Trust Inc. now owns 645 shares of the company’s stock worth $310,000 after purchasing an additional 134 shares during the last quarter. Finally, OP Asset Management Ltd purchased a new position in shares of Medpace during the first quarter valued at approximately $1,785,000. 77.98% of the stock is owned by hedge funds and other institutional investors.
Medpace Price Performance
Shares of MEDP opened at $527.07 on Friday. The firm has a market capitalization of $15.05 billion, a price-to-earnings ratio of 33.13, a PEG ratio of 2.64 and a beta of 1.18. Medpace Holdings, Inc. has a 1-year low of $306.70 and a 1-year high of $628.92. The company has a 50-day moving average of $451.19 and a 200 day moving average of $497.02.
Wall Street Analyst Weigh In
MEDP has been the topic of a number of analyst reports. BMO Capital Markets cut their target price on Medpace from $460.00 to $400.00 and set a “market perform” rating on the stock in a research note on Friday, April 24th. Weiss Ratings lowered Medpace from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, April 6th. Royal Bank Of Canada dropped their price objective on Medpace from $522.00 to $484.00 and set an “outperform” rating for the company in a report on Friday, April 24th. Barclays cut their price objective on Medpace from $500.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Friday, April 24th. Finally, Wall Street Zen lowered Medpace from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Medpace currently has a consensus rating of “Hold” and a consensus price target of $467.08.
View Our Latest Report on Medpace
Insider Activity
In related news, General Counsel Stephen P. Ewald sold 16,349 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $450.00, for a total value of $7,357,050.00. Following the completion of the sale, the general counsel owned 20,343 shares in the company, valued at approximately $9,154,350. The trade was a 44.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 20.50% of the company’s stock.
Medpace Company 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.
Read More
- Five stocks we like better than Medpace
- Rocket Lab’s NASA Win Tests Key Support After Sharp Pullback
- AST SpaceMobile Just Nailed a Major Launch—So Why Is the Stock Crashing?
- Palantir’s Valuation Problem Just Met 2 New Growth Catalysts
- Xcel Energy Stock Offers Stability as Electricity Demand Builds
Want to see what other hedge funds are holding MEDP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medpace Holdings, Inc. (NASDAQ:MEDP – Free Report).
Receive News & Ratings for Medpace Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medpace and related companies with MarketBeat.com's FREE daily email newsletter.
