Landscape Capital Management L.L.C. acquired a new stake in Medpace Holdings, Inc. (NASDAQ:MEDP – Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,174 shares of the company’s stock, valued at approximately $1,783,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MEDP. AQR Capital Management LLC lifted its stake in Medpace by 65.1% in the third quarter. AQR Capital Management LLC now owns 1,025,410 shares of the company’s stock valued at $518,170,000 after buying an additional 404,226 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Medpace by 205.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 314,150 shares of the company’s stock valued at $161,523,000 after purchasing an additional 211,411 shares during the period. Franklin Resources Inc. increased its holdings in shares of Medpace by 158.6% in the fourth quarter. Franklin Resources Inc. now owns 299,472 shares of the company’s stock valued at $168,198,000 after purchasing an additional 183,645 shares during the period. Norges Bank acquired a new position in shares of Medpace in the fourth quarter valued at approximately $102,156,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Medpace by 92.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 347,049 shares of the company’s stock valued at $194,920,000 after purchasing an additional 166,654 shares during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.
Medpace Stock Performance
Medpace stock opened at $467.50 on Tuesday. The firm has a market capitalization of $13.35 billion, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 2.37 and a beta of 1.18. Medpace Holdings, Inc. has a fifty-two week low of $294.07 and a fifty-two week high of $628.92. The stock’s fifty day moving average is $455.81 and its two-hundred day moving average is $502.82.
Insiders Place Their Bets
In other Medpace news, General Counsel Stephen P. Ewald sold 16,349 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $450.00, for a total value of $7,357,050.00. Following the sale, the general counsel owned 20,343 shares of the company’s stock, valued at approximately $9,154,350. This represents a 44.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 20.50% of the company’s stock.
Wall Street Analysts Forecast Growth
MEDP has been the topic of a number of recent research reports. TD Cowen raised Medpace from a “sell” rating to a “hold” rating and dropped their target price for the company from $462.00 to $419.00 in a report on Wednesday, February 18th. Wall Street Zen lowered Medpace from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Barclays dropped their price objective on Medpace from $500.00 to $450.00 and set an “equal weight” rating on the stock in a report on Friday, April 24th. Weiss Ratings lowered Medpace from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 6th. Finally, BMO Capital Markets dropped their price objective on Medpace from $460.00 to $400.00 and set a “market perform” rating on the stock in a report on Friday, April 24th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Medpace presently has a consensus rating of “Hold” and an average target price of $467.08.
Read Our Latest Analysis on Medpace
Medpace Profile
Medpace Holdings, Inc (NASDAQ: MEDP) is a global contract research organization (CRO) that provides comprehensive clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports clinical trials across all phases (I–IV), offering end-to-end solutions designed to streamline the development process and accelerate the delivery of new therapies to market.
Medpace’s core service offerings include clinical pharmacology, regulatory affairs consulting, project management, central laboratory services, imaging, data management and biostatistics, pharmacovigilance and medical writing.
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