Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,750 shares of the company’s stock after purchasing an additional 488 shares during the period. PNC Financial Services Group Inc.’s holdings in Medpace were worth $2,682,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MEDP. Wellington Management Group LLP raised its stake in Medpace by 312.6% during the third quarter. Wellington Management Group LLP now owns 421,313 shares of the company’s stock valued at $102,013,000 after buying an additional 319,210 shares in the last quarter. TD Asset Management Inc raised its position in shares of Medpace by 195.2% during the 4th quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock valued at $143,162,000 after acquiring an additional 308,816 shares in the last quarter. Invesco Ltd. lifted its stake in Medpace by 67.6% during the third quarter. Invesco Ltd. now owns 611,900 shares of the company’s stock worth $148,159,000 after purchasing an additional 246,775 shares during the last quarter. Norges Bank acquired a new position in Medpace in the fourth quarter worth $59,163,000. Finally, Epoch Investment Partners Inc. boosted its holdings in Medpace by 82.3% in the fourth quarter. Epoch Investment Partners Inc. now owns 352,463 shares of the company’s stock worth $108,040,000 after purchasing an additional 159,144 shares during the period. 77.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on MEDP shares. StockNews.com downgraded Medpace from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. Robert W. Baird boosted 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. Guggenheim raised their price target on Medpace from $453.00 to $464.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. TD Cowen assumed coverage on shares of Medpace in a research note on Wednesday, May 29th. They set a “buy” rating and a $452.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Medpace in a research report on Monday, March 18th. They issued a “hold” rating and a $395.00 target price for the company. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Medpace presently has an average rating of “Moderate Buy” and an average price target of $443.14.

Insider Transactions at Medpace

In related news, CEO August J. Troendle sold 15,102 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $400.69, for a total value of $6,051,220.38. Following the completion of the transaction, the chief executive officer now owns 791,541 shares in the company, valued at approximately $317,162,563.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO August J. Troendle sold 3,987 shares of Medpace stock in a transaction on Friday, May 24th. The stock was sold at an average price of $395.22, for a total transaction of $1,575,742.14. Following the transaction, the chief executive officer now owns 660,351 shares in the company, valued at $260,983,922.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO August J. Troendle sold 15,102 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $400.69, for a total value of $6,051,220.38. Following the completion of the sale, the chief executive officer now directly owns 791,541 shares of the company’s stock, valued at $317,162,563.29. The disclosure for this sale can be found here. Insiders sold a total of 29,621 shares of company stock valued at $11,816,852 in the last three months. 20.30% of the stock is currently owned by corporate insiders.

Medpace Trading Down 0.6 %

Shares of Medpace stock opened at $400.63 on Friday. Medpace Holdings, Inc. has a 52 week low of $216.87 and a 52 week high of $421.00. The stock has a market cap of $12.41 billion, a PE ratio of 40.84, a price-to-earnings-growth ratio of 1.99 and a beta of 1.39. The company’s 50-day moving average price is $393.83 and its two-hundred day moving average price is $361.56.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, April 22nd. The company reported $3.20 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.75. The business had revenue of $511.00 million for the quarter, compared to the consensus estimate of $512.39 million. Medpace had a net margin of 15.92% and a return on equity of 59.74%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.27 EPS. On average, equities analysts predict that Medpace Holdings, Inc. will post 11.29 EPS for the current fiscal year.

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.