Procyon Advisors LLC Acquires 252 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Procyon Advisors LLC boosted its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 11.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,388 shares of the company’s stock after acquiring an additional 252 shares during the quarter. Procyon Advisors LLC’s holdings in Medpace were worth $732,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MEDP. Rice Hall James & Associates LLC grew its stake in Medpace by 12.1% in the 1st quarter. Rice Hall James & Associates LLC now owns 183,556 shares of the company’s stock worth $30,028,000 after acquiring an additional 19,884 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Medpace by 28.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,581 shares of the company’s stock worth $259,000 after purchasing an additional 349 shares during the period. Cetera Advisor Networks LLC lifted its position in shares of Medpace by 26.1% in the 1st quarter. Cetera Advisor Networks LLC now owns 2,304 shares of the company’s stock worth $377,000 after purchasing an additional 477 shares during the period. Rhumbline Advisers lifted its position in Medpace by 2.4% during the first quarter. Rhumbline Advisers now owns 78,755 shares of the company’s stock valued at $12,884,000 after acquiring an additional 1,827 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Medpace by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,537 shares of the company’s stock valued at $1,724,000 after acquiring an additional 1,005 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on MEDP. Robert W. Baird raised their price target on shares of Medpace from $312.00 to $408.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft began coverage on shares of Medpace in a research report on Monday, March 18th. They set a “hold” rating and a $395.00 price target on the stock. StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a report on Saturday, March 23rd. Finally, UBS Group raised shares of Medpace from a “neutral” rating to a “buy” rating and increased their price objective for the company from $282.00 to $452.00 in a report on Thursday, February 15th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $382.00.

Medpace Stock Performance

Shares of NASDAQ:MEDP traded down $0.48 during midday trading on Thursday, hitting $402.79. The company’s stock had a trading volume of 13,349 shares, compared to its average volume of 248,514. The business’s 50 day simple moving average is $364.20 and its 200 day simple moving average is $304.29. The company has a market cap of $12.39 billion, a P/E ratio of 45.41, a price-to-earnings-growth ratio of 2.13 and a beta of 1.38. Medpace Holdings, Inc. has a 12-month low of $181.50 and a 12-month high of $419.42.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, February 12th. The company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.24. Medpace had a net margin of 15.00% and a return on equity of 63.98%. The company had revenue of $498.40 million for the quarter, compared to the consensus estimate of $498.72 million. During the same period in the previous year, the firm earned $2.12 earnings per share. Medpace’s quarterly revenue was up 26.5% compared to the same quarter last year. On average, sell-side analysts predict that Medpace Holdings, Inc. will post 10.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Medpace

In other news, VP Susan E. Burwig sold 102 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $403.00, for a total value of $41,106.00. Following the completion of the transaction, the vice president now owns 15,181 shares in the company, valued at approximately $6,117,943. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Ashley M. Keating sold 250 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $409.87, for a total value of $102,467.50. Following the sale, the director now directly owns 250 shares of the company’s stock, valued at $102,467.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Susan E. Burwig sold 102 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 15,181 shares in the company, valued at $6,117,943. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,340 shares of company stock valued at $76,651,647. Insiders own 25.70% of the company’s stock.

Medpace Company 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.