QRG Capital Management Inc. Grows Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

QRG Capital Management Inc. raised its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 322.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,553 shares of the company’s stock after acquiring an additional 8,055 shares during the period. QRG Capital Management Inc.’s holdings in Medpace were worth $4,265,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP lifted its position in Medpace by 312.6% in the third quarter. Wellington Management Group LLP now owns 421,313 shares of the company’s stock valued at $102,013,000 after purchasing an additional 319,210 shares during the period. TD Asset Management Inc grew its holdings in Medpace by 195.2% during the fourth quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock worth $143,162,000 after acquiring an additional 308,816 shares during the period. Findlay Park Partners LLP purchased a new position in Medpace in the first quarter worth $90,247,000. Norges Bank acquired a new stake in Medpace in the fourth quarter valued at $59,163,000. Finally, Epoch Investment Partners Inc. boosted its position in shares of Medpace by 82.3% during the 4th quarter. Epoch Investment Partners Inc. now owns 352,463 shares of the company’s stock worth $108,040,000 after purchasing an additional 159,144 shares in the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Medpace Stock Performance

Medpace stock traded down $10.24 during midday trading on Wednesday, reaching $447.05. 54,710 shares of the company were exchanged, compared to its average volume of 226,800. The firm’s 50-day simple moving average is $403.05 and its 200-day simple moving average is $377.56. Medpace Holdings, Inc. has a 1 year low of $227.21 and a 1 year high of $459.77. The company has a market capitalization of $13.85 billion, a price-to-earnings ratio of 46.61, a P/E/G ratio of 2.20 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, April 22nd. The company reported $3.20 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.75. The business had revenue of $511.00 million during the quarter, compared to the consensus estimate of $512.39 million. Medpace had a net margin of 15.92% and a return on equity of 59.74%. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.27 earnings per share. On average, analysts forecast that Medpace Holdings, Inc. will post 11.29 EPS for the current fiscal year.

Insider Buying and Selling

In other Medpace news, CEO August J. Troendle sold 15,102 shares of Medpace stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $400.69, for a total value of $6,051,220.38. Following the completion of the sale, the chief executive officer now owns 791,541 shares in the company, valued at approximately $317,162,563.29. The transaction 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 3,987 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $395.22, for a total value of $1,575,742.14. Following the transaction, the chief executive officer now owns 660,351 shares of the company’s stock, valued at approximately $260,983,922.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO August J. Troendle sold 15,102 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $400.69, for a total value of $6,051,220.38. Following the completion of the sale, the chief executive officer now owns 791,541 shares of the company’s stock, valued at $317,162,563.29. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,621 shares of company stock worth $11,816,852. 20.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Jefferies Financial Group raised shares of Medpace from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $340.00 to $450.00 in a report on Tuesday, April 23rd. Guggenheim raised their price objective on Medpace from $453.00 to $464.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. StockNews.com upgraded Medpace from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Robert W. Baird raised their price target on Medpace from $456.00 to $469.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Finally, TD Cowen began coverage on shares of Medpace in a research note on Wednesday, May 29th. They issued a “buy” rating and a $452.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $445.29.

About Medpace

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.