Chevy Chase Trust Holdings LLC Boosts Holdings in Medpace Holdings, Inc. $MEDP

Chevy Chase Trust Holdings LLC raised its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,131 shares of the company’s stock after buying an additional 219 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Medpace were worth $4,749,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Oxbow Advisors LLC raised its position in shares of Medpace by 3.6% in the 2nd quarter. Oxbow Advisors LLC now owns 9,188 shares of the company’s stock worth $2,884,000 after buying an additional 323 shares during the period. Nordea Investment Management AB raised its position in shares of Medpace by 4.8% in the 2nd quarter. Nordea Investment Management AB now owns 61,125 shares of the company’s stock worth $19,067,000 after buying an additional 2,792 shares during the period. Empirical Asset Management LLC grew its holdings in shares of Medpace by 29.9% during the 2nd quarter. Empirical Asset Management LLC now owns 1,993 shares of the company’s stock worth $626,000 after purchasing an additional 459 shares during the period. Boston Trust Walden Corp grew its holdings in shares of Medpace by 12.1% during the 2nd quarter. Boston Trust Walden Corp now owns 151,074 shares of the company’s stock worth $47,416,000 after purchasing an additional 16,270 shares during the period. Finally, TD Asset Management Inc grew its holdings in shares of Medpace by 15.6% during the 2nd quarter. TD Asset Management Inc now owns 457,645 shares of the company’s stock worth $143,636,000 after purchasing an additional 61,764 shares during the period. 77.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Medpace news, General Counsel Stephen P. Ewald sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $450.00, for a total value of $1,350,000.00. Following the transaction, the general counsel directly owned 10,343 shares of the company’s stock, valued at $4,654,350. This represents a 22.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kevin M. Brady sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $454.23, for a total value of $5,450,760.00. Following the completion of the transaction, the chief financial officer directly owned 6,000 shares in the company, valued at approximately $2,725,380. The trade was a 66.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 161,266 shares of company stock worth $74,111,427 over the last 90 days. 20.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MEDP has been the subject of a number of research reports. Robert W. Baird boosted their target price on Medpace from $313.00 to $490.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Rothschild & Co Redburn cut Medpace from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $342.00 to $474.00 in a report on Wednesday, September 3rd. Jefferies Financial Group boosted their target price on Medpace from $400.00 to $450.00 and gave the stock a “hold” rating in a report on Tuesday, September 9th. Deutsche Bank Aktiengesellschaft raised their price objective on Medpace from $270.00 to $430.00 and gave the company a “hold” rating in a research report on Wednesday, July 23rd. Finally, TD Cowen reissued a “sell” rating and issued a $366.00 price objective (up from $283.00) on shares of Medpace in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $430.60.

Medpace Stock Performance

Medpace stock opened at $544.41 on Tuesday. The stock’s 50 day moving average price is $494.13 and its 200 day moving average price is $384.67. The firm has a market capitalization of $15.29 billion, a PE ratio of 40.48, a price-to-earnings-growth ratio of 3.31 and a beta of 1.40. Medpace Holdings, Inc. has a one year low of $250.05 and a one year high of $547.15.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, July 21st. The company reported $3.10 EPS for the quarter, topping the consensus estimate of $3.00 by $0.10. The firm had revenue of $603.31 million for the quarter, compared to analyst estimates of $537.70 million. Medpace had a return on equity of 67.66% and a net margin of 18.74%.Medpace’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.75 EPS. On average, analysts forecast that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

About Medpace

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.