Kensico Capital Management Corp Raises Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Kensico Capital Management Corp boosted its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 348.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,100 shares of the company’s stock after purchasing an additional 94,100 shares during the quarter. Medpace comprises 0.9% of Kensico Capital Management Corp’s holdings, making the stock its 19th largest holding. Kensico Capital Management Corp owned 0.39% of Medpace worth $40,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. grew its position in shares of Medpace by 91.8% in the 4th quarter. Invesco Ltd. now owns 1,084,753 shares of the company’s stock worth $360,387,000 after buying an additional 519,186 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in Medpace by 34,497.4% in the fourth quarter. Proficio Capital Partners LLC now owns 242,528 shares of the company’s stock valued at $80,575,000 after acquiring an additional 241,827 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Medpace in the fourth quarter worth $78,144,000. Norges Bank acquired a new position in shares of Medpace during the fourth quarter worth $69,859,000. Finally, GW&K Investment Management LLC lifted its holdings in shares of Medpace by 93.9% during the 4th quarter. GW&K Investment Management LLC now owns 275,460 shares of the company’s stock valued at $91,516,000 after purchasing an additional 133,379 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MEDP. Truist Financial decreased their price target on Medpace from $333.00 to $300.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. Leerink Partnrs raised shares of Medpace to a “hold” rating in a research report on Monday, March 24th. Robert W. Baird lowered their target price on shares of Medpace from $340.00 to $313.00 and set a “neutral” rating for the company in a research note on Wednesday, April 23rd. Mizuho cut their price target on shares of Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Finally, William Blair reiterated a “market perform” rating on shares of Medpace in a research note on Tuesday, April 22nd. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $349.30.

Medpace Stock Down 1.6 %

Shares of MEDP opened at $296.03 on Friday. The company has a market capitalization of $8.51 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 3.81 and a beta of 1.55. Medpace Holdings, Inc. has a 52 week low of $250.05 and a 52 week high of $459.77. The stock’s 50-day moving average price is $306.90 and its 200-day moving average price is $328.58.

Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Monday, April 21st. The company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.06 by $0.61. The business had revenue of $558.57 million for the quarter, compared to analyst estimates of $528.38 million. Medpace had a return on equity of 51.48% and a net margin of 19.17%. During the same quarter in the prior year, the firm posted $3.20 EPS. As a group, equities analysts anticipate that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

Insider Activity at Medpace

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of the firm’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $301.82, for a total transaction of $516,715.84. Following the sale, the director now directly owns 2,998 shares in the company, valued at $904,856.36. This trade represents a 36.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 20.30% of the stock is owned by company insiders.

Medpace Profile

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.