Mirae Asset Global Investments Co. Ltd. Buys 1,506 Shares of Medpace Holdings, Inc. $MEDP

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Medpace Holdings, Inc. (NASDAQ:MEDP) in the third quarter, HoldingsChannel reports. The firm purchased 1,506 shares of the company’s stock, valued at approximately $940,000.

A number of other hedge funds have also made changes to their positions in the company. Vise Technologies Inc. grew its stake in Medpace by 99.4% in the 3rd quarter. Vise Technologies Inc. now owns 2,291 shares of the company’s stock valued at $1,430,000 after acquiring an additional 1,142 shares during the last quarter. Americana Partners LLC raised its position in Medpace by 18.1% during the third quarter. Americana Partners LLC now owns 574 shares of the company’s stock worth $358,000 after acquiring an additional 88 shares during the last quarter. Parcion Private Wealth LLC raised its position in Medpace by 46.7% during the third quarter. Parcion Private Wealth LLC now owns 892 shares of the company’s stock worth $557,000 after acquiring an additional 284 shares during the last quarter. Soltis Investment Advisors LLC raised its position in Medpace by 55.5% during the third quarter. Soltis Investment Advisors LLC now owns 647 shares of the company’s stock worth $404,000 after acquiring an additional 231 shares during the last quarter. Finally, Choreo LLC lifted its holdings in shares of Medpace by 12.9% in the third quarter. Choreo LLC now owns 850 shares of the company’s stock valued at $530,000 after purchasing an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Stock Performance

Medpace stock opened at $653.11 on Monday. The stock has a 50-day moving average price of $622.54 and a 200 day moving average price of $532.32. Medpace Holdings, Inc. has a 52 week low of $373.00 and a 52 week high of $693.97. The stock has a market cap of $18.27 billion, a PE ratio of 36.20, a P/E/G ratio of 2.53 and a beta of 1.12.

Medpace (NASDAQ:MEDP) last released its earnings results on Wednesday, October 21st. The company reported $4.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.44 by $0.40. Medpace had a net margin of 18.24% and a return on equity of 99.76%. The company had revenue of $716.00 million for the quarter, compared to analyst estimates of $714.47 million. During the same period in the prior year, the firm earned $3.86 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts predict that Medpace Holdings, Inc. will post 18.06 EPS for the current year.

Wall Street Analysts Forecast Growth

MEDP has been the topic of several research reports. Royal Bank Of Canada increased their price target on shares of Medpace from $484.00 to $692.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. TD Cowen lifted their price objective on Medpace from $492.00 to $673.00 and gave the stock a “hold” rating in a research report on Friday, October 23rd. Mizuho set a $730.00 target price on Medpace in a research note on Friday, October 23rd. Barclays upped their target price on Medpace from $625.00 to $675.00 and gave the company an “equal weight” rating in a research note on Friday, October 23rd. Finally, Leerink Partners set a $620.00 target price on Medpace in a report on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Medpace currently has a consensus rating of “Hold” and an average price target of $649.27.

Insider Buying and Selling

In related news, CEO August J. Troendle sold 49,018 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $628.11, for a total transaction of $30,788,695.98. Following the transaction, the chief executive officer owned 433,372 shares of the company’s stock, valued at approximately $272,205,286.92. This represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Susan E. Burwig sold 16,060 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $677.00, for a total transaction of $10,872,620.00. Following the sale, the vice president owned 57,624 shares in the company, valued at approximately $39,011,448. This trade represents a 21.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 337,113 shares of company stock valued at $210,232,507. Company insiders own 20.50% of the company’s stock.

Medpace Company Profile

Medpace Holdings, Inc is a global contract research organization (CRO) that provides clinical development services to the biotechnology, pharmaceutical and medical device industries. Founded in 1992 and headquartered in Cincinnati, Ohio, the company works with clients developing treatments and medical products across a range of therapeutic areas.

Medpace offers services spanning the clinical development process, including clinical trial planning and management, regulatory affairs, clinical laboratory testing, data management, biostatistics, medical writing and pharmacovigilance.