RiverPark Advisors LLC Has $224,000 Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

RiverPark Advisors LLC lifted its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 544.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 554 shares of the company’s stock after purchasing an additional 468 shares during the period. RiverPark Advisors LLC’s holdings in Medpace were worth $224,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Contravisory Investment Management Inc. acquired a new stake in shares of Medpace in the fourth quarter valued at approximately $26,000. Rise Advisors LLC acquired a new stake in shares of Medpace in the first quarter valued at approximately $27,000. Mather Group LLC. bought a new position in Medpace in the first quarter valued at approximately $28,000. GAMMA Investing LLC bought a new position in Medpace in the fourth quarter valued at approximately $30,000. Finally, Fidelis Capital Partners LLC bought a new position in Medpace in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Price Performance

Shares of NASDAQ MEDP traded up $5.31 during midday trading on Tuesday, reaching $410.95. 124,687 shares of the stock were exchanged, compared to its average volume of 228,476. The business has a 50-day simple moving average of $398.31 and a two-hundred day simple moving average of $372.32. The company has a market capitalization of $12.73 billion, a price-to-earnings ratio of 41.89, a P/E/G ratio of 1.99 and a beta of 1.36. Medpace Holdings, Inc. has a 12 month low of $227.21 and a 12 month high of $437.39.

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

Insider Buying and Selling

In related 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 transaction of $1,575,742.14. Following the sale, the chief executive officer now directly owns 660,351 shares in the company, valued at $260,983,922.22. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related 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 transaction of $1,575,742.14. Following the sale, the chief executive officer now directly owns 660,351 shares in the company, valued at $260,983,922.22. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO August J. Troendle sold 5,695 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $395.49, for a total transaction of $2,252,315.55. Following the sale, the chief executive officer now owns 654,656 shares in the company, valued at $258,909,901.44. The disclosure for this sale can be found here. Insiders have sold a total of 29,621 shares of company stock worth $11,816,852 over the last ninety days. Company insiders own 20.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MEDP shares. Mizuho started coverage on shares of Medpace in a research note on Tuesday, May 28th. They issued a “buy” rating and a $435.00 price objective on the stock. Guggenheim raised their price objective on shares of Medpace from $453.00 to $464.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. TD Cowen started 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. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Medpace in a research note on Monday, March 18th. They issued a “hold” rating and a $395.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.