Shelton Capital Management Cuts Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Shelton Capital Management reduced its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 4.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,241 shares of the company’s stock after selling 57 shares during the quarter. Shelton Capital Management’s holdings in Medpace were worth $298,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MEDP. Altshuler Shaham Ltd purchased a new stake in shares of Medpace in the 4th quarter worth approximately $27,000. Rockefeller Capital Management L.P. boosted its position in Medpace by 361.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 143 shares of the company’s stock valued at $30,000 after acquiring an additional 112 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Medpace in the 2nd quarter valued at $42,000. Financial Gravity Asset Management Inc. raised its position in shares of Medpace by 27.7% in the 2nd quarter. Financial Gravity Asset Management Inc. now owns 240 shares of the company’s stock worth $1,106,000 after acquiring an additional 52 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Medpace during the 2nd quarter worth $42,000. 77.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MEDP has been the subject of a number of recent research reports. Guggenheim boosted their target price on shares of Medpace from $252.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday, July 25th. UBS Group increased their target price on shares of Medpace from $215.00 to $270.00 in a research report on Wednesday, July 26th. Robert W. Baird raised shares of Medpace from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $270.00 to $289.00 in a report on Tuesday, October 24th. Finally, StockNews.com started coverage on Medpace in a report on Thursday, October 5th. They set a “hold” rating for the company.

Medpace Trading Up 0.7 %

Shares of Medpace stock opened at $275.97 on Tuesday. The firm’s 50 day simple moving average is $255.74 and its two-hundred day simple moving average is $243.74. The firm has a market capitalization of $8.47 billion, a price-to-earnings ratio of 32.32 and a beta of 1.37. Medpace Holdings, Inc. has a 12-month low of $167.00 and a 12-month high of $287.00.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, October 23rd. The company reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.17. Medpace had a return on equity of 68.48% and a net margin of 15.33%. The company had revenue of $492.50 million during the quarter, compared to analysts’ expectations of $475.79 million. During the same quarter in the previous year, the firm posted $2.05 EPS. The firm’s revenue was up 28.3% compared to the same quarter last year. On average, sell-side analysts predict that Medpace Holdings, Inc. will post 8.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO August J. Troendle sold 17,000 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $281.61, for a total value of $4,787,370.00. Following the sale, the chief executive officer now owns 5,839,947 shares in the company, valued at $1,644,587,474.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO August J. Troendle sold 17,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $281.61, for a total value of $4,787,370.00. Following the sale, the chief executive officer now owns 5,839,947 shares in the company, valued at $1,644,587,474.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Medpace Investors, Llc sold 33,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $283.42, for a total value of $9,352,860.00. Following the sale, the insider now directly owns 5,856,947 shares in the company, valued at $1,659,975,918.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 393,072 shares of company stock valued at $103,391,369. 25.70% of the stock is owned by insiders.

Medpace Company Profile

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. It offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. The company also 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.