Alyeska Investment Group L.P. Invests $14.95 Million in Medpace Holdings, Inc. (NASDAQ:MEDP)

Alyeska Investment Group L.P. purchased a new position in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 45,000 shares of the company's stock, valued at approximately $14,950,000. Alyeska Investment Group L.P. owned about 0.14% of Medpace as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Invesco Ltd. grew its stake in shares of Medpace by 91.8% in the fourth quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock worth $360,387,000 after acquiring an additional 519,186 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in Medpace by 34,497.4% in the fourth quarter. Proficio Capital Partners LLC now owns 242,528 shares of the company's stock worth $80,575,000 after buying an additional 241,827 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Medpace in the fourth quarter worth approximately $78,144,000. Norges Bank purchased a new stake in shares of Medpace during the fourth quarter valued at approximately $69,859,000. Finally, GW&K Investment Management LLC increased its position in shares of Medpace by 93.9% during the fourth quarter. GW&K Investment Management LLC now owns 275,460 shares of the company's stock valued at $91,516,000 after acquiring an additional 133,379 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on MEDP shares. Leerink Partnrs upgraded Medpace to a "hold" rating in a research note on Monday, March 24th. Mizuho decreased their target price on Medpace from $400.00 to $355.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. William Blair reiterated a "market perform" rating on shares of Medpace in a research note on Tuesday, April 22nd. Leerink Partners assumed coverage on shares of Medpace in a research report on Monday, March 24th. They set a "market perform" rating and a $330.00 price objective on the stock. Finally, TD Cowen downgraded shares of Medpace from a "buy" rating to a "hold" rating and cut their target price for the stock from $370.00 to $328.00 in a research report on Monday, April 14th. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $349.30.

Insider Activity

In other Medpace news, Director Fred B. Davenport, Jr. sold 1,712 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $301.82, for a total value of $516,715.84. Following the completion of the transaction, the director now directly owns 2,998 shares in the company, valued at $904,856.36. This represents a 36.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 20.30% of the company's stock.

Medpace Stock Performance

Shares of NASDAQ MEDP traded down $4.78 during trading on Friday, hitting $296.03. The company had a trading volume of 199,914 shares, compared to its average volume of 346,768. The stock has a 50 day simple moving average of $306.90 and a 200 day simple moving average of $328.58. The firm has a market capitalization of $8.51 billion, a P/E ratio of 23.44, a price-to-earnings-growth 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.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The company reported $3.67 earnings per share for the quarter, topping analysts' consensus estimates of $3.06 by $0.61. The business had revenue of $558.57 million during the quarter, compared to analyst estimates of $528.38 million. Medpace had a net margin of 19.17% and a return on equity of 51.48%. During the same period in the prior year, the business posted $3.20 earnings per share. As a group, analysts predict that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Medpace Profile

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.