Mirae Asset Global Investments Co. Ltd. Buys New Position in Medpace Holdings, Inc. $MEDP

Mirae Asset Global Investments Co. Ltd. bought a new stake in Medpace Holdings, Inc. (NASDAQ:MEDP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,506 shares of the company’s stock, valued at approximately $940,000.

Several other large investors have also modified their holdings of MEDP. The Manufacturers Life Insurance Company lifted its stake in shares of Medpace by 38.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,043 shares of the company’s stock worth $10,615,000 after acquiring an additional 5,610 shares during the period. American Capital Management Inc. purchased a new stake in shares of Medpace in the second quarter valued at about $111,329,000. Focus Partners Advisor Solutions LLC acquired a new position in shares of Medpace during the second quarter worth about $1,685,000. Odyssean LLC acquired a new position in shares of Medpace during the second quarter worth about $3,369,000. Finally, Rice Hall James & Associates LLC acquired a new position in shares of Medpace during the second quarter worth about $28,659,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MEDP. TD Cowen increased their price target on shares of Medpace from $492.00 to $673.00 and gave the stock a “hold” rating in a report on Friday, October 23rd. Barclays lifted their price objective on Medpace from $625.00 to $675.00 and gave the company an “equal weight” rating in a report on Friday, October 23rd. Weiss Ratings upgraded Medpace from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Mizuho set a $730.00 target price on Medpace in a research note on Friday, October 23rd. Finally, BMO Capital Markets raised their price target on Medpace from $600.00 to $670.00 and gave the company a “market perform” rating in a report on Monday, October 26th. Three research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $649.27.

Medpace Stock Performance

Shares of NASDAQ MEDP opened at $653.11 on Monday. Medpace Holdings, Inc. has a one year low of $373.00 and a one year high of $693.97. The firm has a market capitalization of $18.27 billion, a P/E ratio of 36.20, a PEG ratio of 2.53 and a beta of 1.12. The company’s fifty day moving average is $622.54 and its two-hundred day moving average is $532.32.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $4.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.44 by $0.40. Medpace had a net margin of 18.24% and a return on equity of 99.76%. The business had revenue of $716.00 million during the quarter, compared to the consensus estimate of $714.47 million. During the same quarter last year, the firm posted $3.86 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts forecast that Medpace Holdings, Inc. will post 18.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Medpace news, CEO August J. Troendle sold 21,966 shares of the stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $625.47, for a total value of $13,739,074.02. Following the completion of the transaction, the chief executive officer directly owned 338,225 shares of the company’s stock, valued at approximately $211,549,590.75. This trade represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Stephen P. Ewald sold 1,245 shares of the stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $690.00, for a total transaction of $859,050.00. Following the completion of the transaction, the general counsel directly owned 19,098 shares of the company’s stock, valued at approximately $13,177,620. This trade represents a 6.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 337,113 shares of company stock valued at $210,232,507. Corporate insiders own 20.50% of the company’s stock.

Medpace Company Profile

Medpace Holdings, Inc is a global contract research organization (CRO) that provides clinical development services to the biotechnology, pharmaceutical and medical device industries. Founded in 1992 and headquartered in Cincinnati, Ohio, the company works with clients developing treatments and medical products across a range of therapeutic areas.

Medpace offers services spanning the clinical development process, including clinical trial planning and management, regulatory affairs, clinical laboratory testing, data management, biostatistics, medical writing and pharmacovigilance.