Medpace Holdings Inc (MEDP) Shares Bought by Macquarie Group Ltd.

Macquarie Group Ltd. grew its position in Medpace Holdings Inc (NASDAQ:MEDP) by 135.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 8,000 shares of the company’s stock after acquiring an additional 4,600 shares during the period. Macquarie Group Ltd.’s holdings in Medpace were worth $344,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Medpace in the 2nd quarter valued at $107,000. Sei Investments Co. grew its holdings in shares of Medpace by 5,087.5% in the 2nd quarter. Sei Investments Co. now owns 4,565 shares of the company’s stock valued at $196,000 after buying an additional 4,477 shares during the period. American International Group Inc. boosted its stake in Medpace by 31.6% in the 1st quarter. American International Group Inc. now owns 6,022 shares of the company’s stock worth $210,000 after purchasing an additional 1,445 shares during the period. CAPROCK Group Inc. acquired a new position in Medpace in the 2nd quarter worth $223,000. Finally, Measured Wealth Private Client Group LLC acquired a new position in Medpace in the 2nd quarter worth $223,000. 39.28% of the stock is owned by institutional investors.

Shares of NASDAQ MEDP opened at $58.21 on Monday. The firm has a market capitalization of $2.13 billion, a P/E ratio of 38.30, a P/E/G ratio of 1.53 and a beta of 1.03. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.68 and a quick ratio of 0.68. Medpace Holdings Inc has a 1-year low of $31.70 and a 1-year high of $65.09.

Medpace (NASDAQ:MEDP) last announced its earnings results on Tuesday, July 31st. The company reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.19. The firm had revenue of $117.80 million during the quarter, compared to analyst estimates of $104.97 million. Medpace had a net margin of 10.44% and a return on equity of 14.22%. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 EPS. Sell-side analysts expect that Medpace Holdings Inc will post 2.44 earnings per share for the current year.

In other Medpace news, major shareholder Medpace Limited Partnership sold 5,175,000 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $54.35, for a total transaction of $281,261,250.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO August J. Troendle sold 731,460 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $59.26, for a total transaction of $43,346,319.60. Following the sale, the chief executive officer now directly owns 849,621 shares in the company, valued at $50,348,540.46. The disclosure for this sale can be found here. Insiders have sold a total of 11,907,218 shares of company stock worth $656,554,339 over the last three months. Insiders own 29.50% of the company’s stock.

A number of equities analysts recently weighed in on MEDP shares. Zacks Investment Research raised shares of Medpace from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Tuesday, July 3rd. William Blair raised shares of Medpace from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 31st. BidaskClub lowered shares of Medpace from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 31st. Credit Suisse Group upped their target price 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. Finally, TheStreet raised shares of Medpace from a “c” rating to a “b-” rating in a research note on Friday, August 10th. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $46.57.

About Medpace

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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Institutional Ownership by Quarter for Medpace (NASDAQ:MEDP)

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