37,530 Shares in Medpace Holdings Inc (MEDP) Acquired by Smith Asset Management Group LP

Smith Asset Management Group LP acquired a new stake in Medpace Holdings Inc (NASDAQ:MEDP) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 37,530 shares of the company’s stock, valued at approximately $2,248,000.

A number of other large investors have also recently modified their holdings of the stock. Granite Investment Partners LLC lifted its position in Medpace by 0.3% in the 2nd quarter. Granite Investment Partners LLC now owns 260,447 shares of the company’s stock valued at $11,199,000 after purchasing an additional 864 shares during the last quarter. Victory Capital Management Inc. lifted its position in Medpace by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 7,091 shares of the company’s stock valued at $305,000 after purchasing an additional 974 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its position in Medpace by 57.1% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 4,144 shares of the company’s stock valued at $178,000 after purchasing an additional 1,507 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Medpace by 26.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 7,983 shares of the company’s stock valued at $278,000 after purchasing an additional 1,673 shares during the last quarter. Finally, BlueMountain Capital Management LLC lifted its position in Medpace by 9.3% in the 2nd quarter. BlueMountain Capital Management LLC now owns 21,710 shares of the company’s stock valued at $934,000 after purchasing an additional 1,848 shares during the last quarter. Hedge funds and other institutional investors own 40.22% of the company’s stock.

MEDP stock opened at $55.96 on Wednesday. Medpace Holdings Inc has a 52 week low of $31.70 and a 52 week high of $65.09. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 36.82, a P/E/G ratio of 1.36 and a beta of 1.41. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.66 and a current ratio of 0.66.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Thursday, November 1st. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. Medpace had a net margin of 10.84% and a return on equity of 15.86%. The company had revenue of $179.00 million for the quarter, compared to the consensus estimate of $175.07 million. During the same period in the previous year, the firm earned $0.40 EPS. Medpace’s revenue was up 44.4% on a year-over-year basis. On average, research analysts expect that Medpace Holdings Inc will post 2.5 EPS for the current year.

In related news, CEO August J. Troendle sold 46,778 shares of the business’s stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $58.96, for a total value of $2,758,030.88. Following the sale, the chief executive officer now directly owns 351,851 shares in the company, valued at approximately $20,745,134.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Medpace Limited Partnership sold 5,224,997 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $54.75, for a total transaction of $286,068,585.75. The disclosure for this sale can be found here. Insiders have sold a total of 10,796,556 shares of company stock worth $590,752,224 over the last 90 days. 29.50% of the stock is owned by insiders.

Several brokerages recently weighed in on MEDP. TheStreet upgraded shares of Medpace from a “c” rating to a “b-” rating in a research report on Friday, August 10th. William Blair upgraded shares of Medpace from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 31st. SunTrust Banks assumed coverage on shares of Medpace in a research report on Monday, September 17th. They set a “hold” rating and a $63.00 price target on the stock. BidaskClub downgraded shares of Medpace from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 31st. Finally, Zacks Investment Research upgraded shares of Medpace from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Thursday, November 1st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $44.43.

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Medpace 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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Institutional Ownership by Quarter for Medpace (NASDAQ:MEDP)

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