Teachers Retirement System of The State of Kentucky Sells 400 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Teachers Retirement System of The State of Kentucky lessened its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 4.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,264 shares of the company’s stock after selling 400 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Medpace were worth $2,533,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MEDP. RiverPark Advisors LLC bought a new stake in Medpace in the fourth quarter worth about $26,000. Contravisory Investment Management Inc. bought a new stake in shares of Medpace in the 4th quarter worth approximately $26,000. GAMMA Investing LLC purchased a new position in Medpace in the fourth quarter valued at approximately $30,000. McGlone Suttner Wealth Management Inc. bought a new position in Medpace during the fourth quarter valued at $33,000. Finally, Principal Securities Inc. purchased a new stake in Medpace in the fourth quarter worth $68,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Trading Down 0.6 %

Medpace stock opened at $400.63 on Friday. Medpace Holdings, Inc. has a 1-year low of $216.87 and a 1-year high of $421.00. The firm has a market capitalization 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 firm’s 50 day simple moving average is $393.83 and its 200 day simple moving average is $361.56.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft began 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. Guggenheim increased their target price on shares of Medpace from $453.00 to $464.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Mizuho began coverage on shares of Medpace in a research report on Tuesday, May 28th. They issued a “buy” rating and a $435.00 price target on the stock. Robert W. Baird raised their price objective on shares of Medpace from $446.00 to $454.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Finally, Jefferies Financial Group upgraded shares of Medpace from a “hold” rating to a “buy” rating and lifted their price objective for the company from $340.00 to $450.00 in a research note on Tuesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $443.14.

Insider Buying and Selling

In related news, CEO August J. Troendle sold 15,102 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $400.69, for a total transaction of $6,051,220.38. Following the completion of the transaction, the chief executive officer now directly owns 791,541 shares in the company, valued at $317,162,563.29. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO August J. Troendle sold 15,102 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $400.69, for a total transaction of $6,051,220.38. Following the sale, 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 SEC, which is accessible through this link. Also, 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 sale, the chief executive officer now directly owns 660,351 shares of the company’s stock, valued at $260,983,922.22. The disclosure for this sale can be found here. Insiders sold a total of 29,621 shares of company stock worth $11,816,852 over the last ninety days. 20.30% of the stock is owned by corporate insiders.

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.