Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Acquired by Kensico Capital Management Corp

Kensico Capital Management Corp lifted its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 348.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,100 shares of the company’s stock after purchasing an additional 94,100 shares during the period. Medpace comprises 0.9% of Kensico Capital Management Corp’s investment portfolio, making the stock its 19th biggest position. Kensico Capital Management Corp’s holdings in Medpace were worth $40,233,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Medpace by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 2,570,770 shares of the company’s stock worth $854,087,000 after buying an additional 25,704 shares in the last quarter. Invesco Ltd. increased its position in shares of Medpace by 91.8% during the fourth quarter. Invesco Ltd. now owns 1,084,753 shares of the company’s stock worth $360,387,000 after purchasing an additional 519,186 shares in the last quarter. Wasatch Advisors LP raised its stake in Medpace by 3.1% in the 4th quarter. Wasatch Advisors LP now owns 936,842 shares of the company’s stock valued at $311,247,000 after purchasing an additional 28,161 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Medpace by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 656,130 shares of the company’s stock valued at $218,031,000 after purchasing an additional 28,076 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Medpace by 15.0% in the 4th quarter. Bessemer Group Inc. now owns 576,044 shares of the company’s stock valued at $191,379,000 after purchasing an additional 75,275 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.

Insider Buying and Selling at Medpace

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of the stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $301.82, for a total transaction of $516,715.84. Following the sale, the director now owns 2,998 shares of the company’s stock, valued at approximately $904,856.36. This represents a 36.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Leerink Partnrs upgraded shares of Medpace to a “hold” rating in a research report on Monday, March 24th. TD Cowen lowered shares of Medpace from a “buy” rating to a “hold” rating and decreased their target price for the stock from $370.00 to $328.00 in a research note on Monday, April 14th. Mizuho lowered their target price on Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Truist Financial cut their price target on Medpace from $333.00 to $300.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. Finally, Robert W. Baird lowered their price objective on Medpace from $340.00 to $313.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 23rd. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Medpace has a consensus rating of “Hold” and an average target price of $349.30.

Medpace Trading Down 1.6 %

Shares of NASDAQ:MEDP opened at $296.03 on Friday. The company has a market capitalization of $8.51 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 3.81 and a beta of 1.55. Medpace Holdings, Inc. has a 12-month low of $250.05 and a 12-month high of $459.77. The business has a 50-day moving average price of $306.90 and a 200 day moving average price of $328.58.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, April 21st. The company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates of $3.06 by $0.61. Medpace had a net margin of 19.17% and a return on equity of 51.48%. The business had revenue of $558.57 million during the quarter, compared to analysts’ expectations of $528.38 million. During the same period last year, the business earned $3.20 earnings per share. As a group, equities research analysts predict that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

About Medpace

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.