American Century Companies Inc. Sells 42,142 Shares of Medpace Holdings Inc (MEDP)

American Century Companies Inc. lowered its position in Medpace Holdings Inc (NASDAQ:MEDP) by 24.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 127,650 shares of the company’s stock after selling 42,142 shares during the period. American Century Companies Inc.’s holdings in Medpace were worth $7,648,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in shares of Medpace in the second quarter valued at approximately $107,000. Cim LLC bought a new position in shares of Medpace in the third quarter valued at approximately $218,000. Atria Investments LLC bought a new position in shares of Medpace in the third quarter valued at approximately $246,000. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Medpace by 57.1% in the second 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 in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Medpace by 5,087.5% in the second quarter. Sei Investments Co. now owns 4,565 shares of the company’s stock valued at $196,000 after purchasing an additional 4,477 shares in the last quarter. Institutional investors and hedge funds own 53.90% of the company’s stock.

Shares of MEDP opened at $52.26 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market cap of $1.86 billion, a P/E ratio of 34.38, a price-to-earnings-growth ratio of 1.30 and a beta of 1.41. Medpace Holdings Inc has a 12 month low of $31.70 and a 12 month high of $65.09.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Thursday, November 1st. The company reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. The company had revenue of $179.00 million during the quarter, compared to the consensus estimate of $175.07 million. Medpace had a return on equity of 15.86% and a net margin of 10.84%. Medpace’s revenue was up 44.4% on a year-over-year basis. During the same period last year, the business posted $0.40 earnings per share. On average, equities research analysts predict that Medpace Holdings Inc will post 2.51 EPS for the current year.

In other Medpace news, CEO August J. Troendle sold 46,778 shares of the firm’s stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $58.96, for a total value of $2,758,030.88. Following the completion of the sale, the chief executive officer now directly owns 351,851 shares of the company’s stock, valued at $20,745,134.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO August J. Troendle sold 114,983 shares of the firm’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $59.31, for a total value of $6,819,641.73. Following the completion of the sale, the chief executive officer now directly owns 351,851 shares of the company’s stock, valued at $20,868,282.81. The disclosure for this sale can be found here. Insiders have sold 5,621,556 shares of company stock valued at $309,490,974 over the last ninety days. 29.50% of the stock is currently owned by company insiders.

A number of research analysts have recently weighed in on MEDP shares. SunTrust Banks upgraded Medpace from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Wednesday, October 31st. They noted that the move was a valuation call. TheStreet upgraded Medpace from a “c” rating to a “b-” rating in a report on Friday, August 10th. William Blair upgraded Medpace from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 31st. Credit Suisse Group raised their target price on Medpace from $42.00 to $49.00 and gave the company an “outperform” rating in a report on Tuesday, July 31st. Finally, Zacks Investment Research raised Medpace from a “hold” rating to a “strong-buy” rating and set a $69.00 price target for the company in a research report on Friday, August 3rd. Four investment 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 stock. Medpace has a consensus rating of “Buy” and an average price target of $44.43.

TRADEMARK VIOLATION NOTICE: This piece was posted by WKRB News and is owned by of WKRB News. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of international trademark and copyright law. The correct version of this piece can be accessed at https://www.wkrb13.com/2018/11/23/american-century-companies-inc-sells-42142-shares-of-medpace-holdings-inc-medp.html.

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.

Read More: How Buying a Call Option Works

Want to see what other hedge funds are holding MEDP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medpace Holdings Inc (NASDAQ:MEDP).

Institutional Ownership by Quarter for Medpace (NASDAQ:MEDP)

Receive News & Ratings for Medpace Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medpace and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply