New York State Common Retirement Fund Sells 12,203 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

New York State Common Retirement Fund decreased its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 14.7% during the fourth quarter, HoldingsChannel reports. The fund owned 71,008 shares of the company’s stock after selling 12,203 shares during the quarter. New York State Common Retirement Fund’s holdings in Medpace were worth $21,766,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Riverbridge Partners LLC increased its position in Medpace by 7.1% during the fourth quarter. Riverbridge Partners LLC now owns 652,384 shares of the company’s stock valued at $199,975,000 after acquiring an additional 43,197 shares during the last quarter. Invesco Ltd. increased its position in Medpace by 67.6% during the third quarter. Invesco Ltd. now owns 611,900 shares of the company’s stock valued at $148,159,000 after acquiring an additional 246,775 shares during the last quarter. Wellington Management Group LLP increased its position in Medpace by 312.6% during the third quarter. Wellington Management Group LLP now owns 421,313 shares of the company’s stock valued at $102,013,000 after acquiring an additional 319,210 shares during the last quarter. Northern Trust Corp increased its position in Medpace by 4.0% during the third quarter. Northern Trust Corp now owns 241,202 shares of the company’s stock valued at $58,402,000 after acquiring an additional 9,192 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Medpace by 55.7% during the third quarter. AQR Capital Management LLC now owns 183,310 shares of the company’s stock valued at $44,385,000 after acquiring an additional 65,614 shares during the last quarter. Institutional investors own 77.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MEDP shares. Robert W. Baird upped their price target on shares of Medpace from $446.00 to $454.00 and gave the stock an “outperform” rating in a report on Wednesday. Guggenheim upped their price target on shares of Medpace from $453.00 to $464.00 and gave the stock a “buy” rating in a report on Wednesday. Jefferies Financial Group upgraded shares of Medpace from a “hold” rating to a “buy” rating and upped their price target for the stock from $340.00 to $450.00 in a report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft started coverage on shares of Medpace in a report on Monday, March 18th. They issued a “hold” rating and a $395.00 price target on the stock. Finally, UBS Group upgraded shares of Medpace from a “neutral” rating to a “buy” rating and upped their price target for the stock from $282.00 to $452.00 in a report on Thursday, February 15th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $443.00.

Insider Buying and Selling

In other Medpace news, CEO August J. Troendle sold 100,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total transaction of $41,298,000.00. Following the completion of the sale, the chief executive officer now directly owns 4,833,019 shares of the company’s stock, valued at $1,995,940,186.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Medpace news, VP Susan E. Burwig sold 102 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $403.00, for a total transaction of $41,106.00. Following the completion of the sale, the vice president now directly owns 15,181 shares of the company’s stock, valued at $6,117,943. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO August J. Troendle sold 100,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total transaction of $41,298,000.00. Following the sale, the chief executive officer now directly owns 4,833,019 shares of the company’s stock, valued at $1,995,940,186.62. The disclosure for this sale can be found here. Insiders sold a total of 189,340 shares of company stock valued at $76,651,647 over the last three months. 20.30% of the stock is owned by company insiders.

Medpace Price Performance

NASDAQ:MEDP opened at $395.93 on Friday. Medpace Holdings, Inc. has a 1-year low of $189.30 and a 1-year high of $421.00. The company has a 50-day moving average of $397.83 and a 200 day moving average of $325.70. The firm has a market cap of $12.27 billion, a PE ratio of 40.36, a price-to-earnings-growth ratio of 1.97 and a beta of 1.38.

Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Monday, April 22nd. The company reported $3.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.75. Medpace had a net margin of 15.92% and a return on equity of 59.74%. The company had revenue of $511.00 million during the quarter, compared to analyst estimates of $512.39 million. During the same period in the prior year, the firm earned $2.27 earnings per share. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. Sell-side analysts anticipate that Medpace Holdings, Inc. will post 11.23 EPS for the current fiscal year.

About Medpace

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.