Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Sold by Chase Investment Counsel Corp

Chase Investment Counsel Corp lessened its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 1.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,676 shares of the company’s stock after selling 173 shares during the quarter. Medpace accounts for approximately 1.3% of Chase Investment Counsel Corp’s portfolio, making the stock its 24th biggest position. Chase Investment Counsel Corp’s holdings in Medpace were worth $2,965,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. RiverPark Advisors LLC purchased a new position in shares of Medpace in the 4th quarter valued at about $26,000. Contravisory Investment Management Inc. purchased a new position in shares of Medpace in the 4th quarter valued at about $26,000. FinTrust Capital Advisors LLC purchased a new position in shares of Medpace in the 3rd quarter valued at about $30,000. GAMMA Investing LLC purchased a new position in shares of Medpace in the 4th quarter valued at about $30,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in shares of Medpace in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Price Performance

Shares of NASDAQ:MEDP traded up $5.12 during trading on Monday, reaching $401.05. The company had a trading volume of 67,132 shares, compared to its average volume of 248,537. The firm has a market capitalization of $12.43 billion, a price-to-earnings ratio of 40.86, a price-to-earnings-growth ratio of 1.97 and a beta of 1.38. The stock’s fifty day moving average price is $397.83 and its 200 day moving average price is $326.26. Medpace Holdings, Inc. has a fifty-two week low of $197.39 and a fifty-two week high of $421.00.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, April 22nd. The company reported $3.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.75. The business had revenue of $511.00 million for the quarter, compared to analyst estimates of $512.39 million. Medpace had a return on equity of 59.74% and a net margin of 15.92%. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.27 earnings per share. On average, equities analysts anticipate that Medpace Holdings, Inc. will post 11.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MEDP has been the subject of several recent analyst reports. UBS Group upgraded Medpace from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $282.00 to $452.00 in a research note on Thursday, February 15th. Jefferies Financial Group raised Medpace from a “hold” rating to a “buy” rating and lifted their price target for the stock from $340.00 to $450.00 in a research report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on Medpace in a research report on Monday, March 18th. They set a “hold” rating and a $395.00 price target on the stock. Robert W. Baird lifted their price target on Medpace from $446.00 to $454.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, Guggenheim lifted their price target on Medpace from $453.00 to $464.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $443.00.

Insider Buying and Selling

In related news, CEO August J. Troendle sold 100,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $412.98, for a total transaction of $41,298,000.00. Following the transaction, the chief executive officer now owns 4,833,019 shares of the company’s stock, valued at $1,995,940,186.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Medpace news, VP Susan E. Burwig sold 102 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $403.00, for a total transaction of $41,106.00. Following the sale, the vice president now directly owns 15,181 shares in the company, valued at $6,117,943. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO August J. Troendle sold 100,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $412.98, for a total value of $41,298,000.00. Following the sale, the chief executive officer now owns 4,833,019 shares in the company, valued at $1,995,940,186.62. The disclosure for this sale can be found here. Insiders have sold 189,340 shares of company stock valued at $76,651,647 over the last quarter. Company insiders own 20.30% of the company’s stock.

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.