Bank of Montreal Can boosted its position in Medpace Holdings Inc (NASDAQ:MEDP) by 37,055.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,582 shares of the company’s stock after purchasing an additional 31,497 shares during the quarter. Bank of Montreal Can owned about 0.09% of Medpace worth $1,892,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of MEDP. Atria Investments LLC acquired a new position in shares of Medpace in the 3rd quarter worth approximately $246,000. Northern Trust Corp grew its stake in shares of Medpace by 26.4% in the 2nd quarter. Northern Trust Corp now owns 184,045 shares of the company’s stock worth $7,913,000 after purchasing an additional 38,473 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Medpace by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 85,341 shares of the company’s stock worth $3,670,000 after purchasing an additional 3,486 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Medpace in the 2nd quarter worth approximately $3,812,000. Finally, MetLife Investment Advisors LLC grew its stake in shares of Medpace by 54.8% in the 2nd quarter. MetLife Investment Advisors LLC now owns 5,868 shares of the company’s stock worth $252,000 after purchasing an additional 2,077 shares during the last quarter. Hedge funds and other institutional investors own 40.22% of the company’s stock.
Several brokerages have recently issued reports on MEDP. BidaskClub cut shares of Medpace from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 31st. Zacks Investment Research raised shares of Medpace from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Thursday, November 1st. Credit Suisse Group lifted their price objective on shares of Medpace from $42.00 to $49.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 31st. TheStreet raised shares of Medpace from a “c” rating to a “b-” rating in a research note on Friday, August 10th. Finally, SunTrust Banks raised shares of Medpace from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Wednesday, October 31st. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $44.43.
Medpace stock opened at $58.74 on Friday. The company has a market capitalization of $1.98 billion, a PE ratio of 38.64, a PEG ratio of 1.39 and a beta of 1.41. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.25. Medpace Holdings Inc has a fifty-two week low of $31.70 and a fifty-two week high of $65.09.
Medpace (NASDAQ:MEDP) last released its earnings results on Thursday, November 1st. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.04. The business had revenue of $179.00 million for the quarter, compared to the consensus estimate of $175.07 million. Medpace had a net margin of 10.84% and a return on equity of 15.86%. The firm’s quarterly revenue was up 44.4% compared to the same quarter last year. During the same period last year, the firm posted $0.40 earnings per share. On average, equities research analysts predict that Medpace Holdings Inc will post 2.5 earnings per share for the current fiscal year.
In other news, CEO August J. Troendle sold 38,640 shares of Medpace stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $58.36, for a total value of $2,255,030.40. Following the transaction, the chief executive officer now directly owns 351,851 shares of the company’s stock, valued at $20,534,024.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Medpace Investors, Llc sold 61,141 shares of Medpace stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $60.20, for a total transaction of $3,680,688.20. Following the completion of the transaction, the insider now directly owns 9,084,369 shares in the company, valued at $546,879,013.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,621,556 shares of company stock worth $309,490,974. 29.50% of the stock is currently owned by insiders.
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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