Clearbridge Investments LLC Buys 195,698 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Clearbridge Investments LLC raised its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 302.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 260,411 shares of the company’s stock after purchasing an additional 195,698 shares during the quarter. Clearbridge Investments LLC owned 0.84% of Medpace worth $105,245,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MEDP. TD Asset Management Inc lifted its position in Medpace by 195.2% in the fourth quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock valued at $143,162,000 after purchasing an additional 308,816 shares during the last quarter. Findlay Park Partners LLP bought a new stake in Medpace in the first quarter valued at approximately $90,247,000. Norges Bank bought a new stake in Medpace in the fourth quarter valued at approximately $59,163,000. Epoch Investment Partners Inc. lifted its position in Medpace by 82.3% in the fourth quarter. Epoch Investment Partners Inc. now owns 352,463 shares of the company’s stock valued at $108,040,000 after purchasing an additional 159,144 shares during the last quarter. Finally, Giverny Capital Inc. increased its stake in shares of Medpace by 4,093.2% during the fourth quarter. Giverny Capital Inc. now owns 157,664 shares of the company’s stock valued at $48,329,000 after buying an additional 153,904 shares during the period. Institutional investors own 77.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. StockNews.com raised Medpace from a “hold” rating to a “buy” rating in a research note on Tuesday. Guggenheim reduced their target price on Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a research note on Wednesday. Jefferies Financial Group raised Medpace from a “hold” rating to a “buy” rating and boosted their target price for the company from $340.00 to $450.00 in a research note on Tuesday, April 23rd. Robert W. Baird reduced their target price on Medpace from $469.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $424.14.

Medpace Price Performance

MEDP stock traded up $24.58 during midday trading on Wednesday, hitting $381.88. The stock had a trading volume of 1,186,474 shares, compared to its average volume of 241,741. The firm has a market cap of $11.83 billion, a price-to-earnings ratio of 38.98, a price-to-earnings-growth ratio of 2.16 and a beta of 1.36. The business has a 50-day moving average of $405.29 and a two-hundred day moving average of $381.65. Medpace Holdings, Inc. has a 52-week low of $227.21 and a 52-week high of $459.77.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.21. Medpace had a return on equity of 59.91% and a net margin of 16.74%. The company had revenue of $528.10 million for the quarter, compared to analysts’ expectations of $528.41 million. During the same period in the prior year, the firm earned $1.93 earnings per share. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. Research analysts predict that Medpace Holdings, Inc. will post 11.29 earnings per share for the current year.

Insider Transactions at Medpace

In other news, CEO August J. Troendle sold 5,695 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $395.49, for a total value of $2,252,315.55. Following the sale, the chief executive officer now directly owns 654,656 shares of the company’s stock, valued at $258,909,901.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO August J. Troendle sold 3,987 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $395.22, for a total value of $1,575,742.14. Following the sale, the chief executive officer now directly owns 660,351 shares of the company’s stock, valued at $260,983,922.22. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO August J. Troendle sold 5,695 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $395.49, for a total value of $2,252,315.55. Following the transaction, the chief executive officer now directly owns 654,656 shares in the company, valued at $258,909,901.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,621 shares of company stock valued at $11,816,852. Insiders own 20.30% of the company’s stock.

Medpace Profile

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.