Globeflex Capital L P Takes Position in Medpace Holdings Inc (MEDP)
Globeflex Capital L P purchased a new stake in shares of Medpace Holdings Inc (NASDAQ:MEDP) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 32,758 shares of the company’s stock, valued at approximately $1,963,000. Globeflex Capital L P owned about 0.09% of Medpace as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in MEDP. Laurion Capital Management LP acquired a new position in Medpace during the second quarter valued at approximately $29,230,000. BlackRock Inc. grew its holdings in Medpace by 42.1% during the third quarter. BlackRock Inc. now owns 2,282,063 shares of the company’s stock valued at $136,719,000 after purchasing an additional 676,396 shares during the last quarter. Penserra Capital Management LLC acquired a new position in Medpace during the third quarter valued at approximately $17,256,000. Acadian Asset Management LLC grew its holdings in Medpace by 28.2% during the second quarter. Acadian Asset Management LLC now owns 1,281,533 shares of the company’s stock valued at $55,106,000 after purchasing an additional 282,216 shares during the last quarter. Finally, Chartwell Investment Partners LLC acquired a new position in Medpace during the second quarter valued at approximately $11,190,000. Institutional investors own 53.90% of the company’s stock.
In other news, major shareholder Medpace Investors, Llc sold 2,713 shares of the stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $58.47, for a total value of $158,629.11. Following the completion of the sale, the insider now directly owns 9,027,814 shares of the company’s stock, valued at $527,856,284.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Medpace Limited Partnership sold 5,224,997 shares of the stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $54.75, for a total value of $286,068,585.75. The disclosure for this sale can be found here. Insiders sold 5,621,556 shares of company stock valued at $309,490,974 over the last three months. 29.50% of the stock is owned by company insiders.
Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Thursday, November 1st. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.04. Medpace had a return on equity of 15.86% and a net margin of 10.84%. The company had revenue of $179.00 million during the quarter, compared to analysts’ expectations of $175.07 million. During the same period in the prior year, the business earned $0.40 earnings per share. Medpace’s revenue for the quarter was up 44.4% compared to the same quarter last year. As a group, sell-side analysts predict that Medpace Holdings Inc will post 2.51 EPS for the current year.
Several brokerages have commented on MEDP. BidaskClub upgraded Medpace from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 8th. Zacks Investment Research upgraded Medpace from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Thursday, November 1st. SunTrust Banks upgraded Medpace from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Wednesday, October 31st. They noted that the move was a valuation call. TheStreet upgraded Medpace from a “c” rating to a “b-” rating in a report on Friday, August 10th. Finally, Credit Suisse Group increased their price target on Medpace from $42.00 to $49.00 and gave the company an “outperform” rating in a report on Tuesday, July 31st. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $44.43.
Medpace Company Profile
Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in a range of therapeutic areas.
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