Duality Advisers LP Grows Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Duality Advisers LP lifted its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 682.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,613 shares of the company’s stock after buying an additional 5,768 shares during the period. Duality Advisers LP’s holdings in Medpace were worth $2,027,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MEDP. abrdn plc purchased a new position in Medpace in the fourth quarter worth about $5,359,000. Daiwa Securities Group Inc. boosted its position in Medpace by 213.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 345 shares of the company’s stock worth $105,000 after purchasing an additional 235 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Medpace by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,897 shares of the company’s stock worth $2,114,000 after purchasing an additional 148 shares during the last quarter. Wealth Alliance boosted its position in Medpace by 9.9% in the fourth quarter. Wealth Alliance now owns 1,053 shares of the company’s stock worth $323,000 after purchasing an additional 95 shares during the last quarter. Finally, Suncoast Equity Management purchased a new position in Medpace in the fourth quarter worth about $412,000. 77.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Medpace

In other news, VP Susan E. Burwig sold 102 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $403.00, for a total value of $41,106.00. Following the sale, the vice president now owns 15,181 shares in the company, valued at $6,117,943. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO August J. Troendle sold 100,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $412.98, for a total value of $41,298,000.00. Following the sale, the chief executive officer now owns 4,833,019 shares in the company, valued at $1,995,940,186.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Susan E. Burwig sold 102 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $403.00, for a total value of $41,106.00. Following the completion of the sale, the vice president now owns 15,181 shares in the company, valued at approximately $6,117,943. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 189,340 shares of company stock worth $76,651,647. 20.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MEDP has been the topic of several research reports. Jefferies Financial Group raised Medpace from a “hold” rating to a “buy” rating and raised their target price for the stock from $340.00 to $450.00 in a research report on Tuesday. Deutsche Bank Aktiengesellschaft assumed coverage on Medpace in a research note on Monday, March 18th. They issued a “hold” rating and a $395.00 price objective on the stock. UBS Group raised Medpace from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $282.00 to $452.00 in a research note on Thursday, February 15th. StockNews.com downgraded Medpace from a “buy” rating to a “hold” rating in a research note on Saturday, March 23rd. Finally, Robert W. Baird raised their price objective on Medpace from $312.00 to $408.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $395.60.

Medpace Stock Performance

Shares of Medpace stock opened at $376.26 on Tuesday. The stock has a market cap of $11.66 billion, a price-to-earnings ratio of 42.37, a price-to-earnings-growth ratio of 1.97 and a beta of 1.38. The stock has a 50 day moving average price of $396.82 and a 200-day moving average price of $322.00. Medpace Holdings, Inc. has a one year low of $187.03 and a one year high of $419.42.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, February 12th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.24. The company had revenue of $498.40 million during the quarter, compared to analysts’ expectations of $498.72 million. Medpace had a return on equity of 63.98% and a net margin of 15.00%. Medpace’s revenue was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.12 EPS. Sell-side analysts predict that Medpace Holdings, Inc. will post 10.53 earnings per share for the current fiscal year.

Medpace Company Profile

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.