New York State Common Retirement Fund Sells 12,203 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

New York State Common Retirement Fund reduced its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 14.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,008 shares of the company's stock after selling 12,203 shares during the period. New York State Common Retirement Fund owned about 0.23% of Medpace worth $21,766,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MEDP. RiverPark Advisors LLC acquired a new position in Medpace during the 4th quarter worth $26,000. Contravisory Investment Management Inc. bought a new position in shares of Medpace in the 4th quarter worth about $26,000. FinTrust Capital Advisors LLC bought a new position in shares of Medpace in the 3rd quarter worth about $30,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Medpace in the 4th quarter worth about $33,000. Finally, IFP Advisors Inc lifted its position in shares of Medpace by 144.3% in the 3rd quarter. IFP Advisors Inc now owns 171 shares of the company's stock worth $41,000 after buying an additional 101 shares during the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Susan E. Burwig sold 102 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $403.00, for a total value of $41,106.00. Following the completion of the sale, the vice president now directly owns 15,181 shares of the company's stock, valued at approximately $6,117,943. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Medpace Investors, Llc sold 13,988 shares of the firm's stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $386.39, for a total transaction of $5,404,823.32. Following the completion of the sale, the insider now directly owns 5,525,959 shares of the company's stock, valued at approximately $2,135,175,298.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Susan E. Burwig sold 102 shares of the firm's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $403.00, for a total value of $41,106.00. Following the sale, the vice president now directly owns 15,181 shares of the company's stock, valued at $6,117,943. The disclosure for this sale can be found here. Insiders sold 189,340 shares of company stock worth $76,651,647 over the last ninety days. Company insiders own 20.30% of the company's stock.

Medpace Price Performance

Shares of NASDAQ MEDP traded up $6.16 during midday trading on Friday, reaching $395.93. 144,681 shares of the company traded hands, compared to its average volume of 240,981. The company has a market cap of $12.27 billion, a price-to-earnings ratio of 40.36, a PEG ratio of 1.97 and a beta of 1.38. The stock has a 50-day moving average price of $397.83 and a 200 day moving average price of $326.26. Medpace Holdings, Inc. has a 52 week low of $189.30 and a 52 week high of $421.00.

Medpace (NASDAQ:MEDP - Get Free Report) last released its quarterly earnings results on Monday, April 22nd. The company reported $3.20 EPS for the quarter, topping analysts' consensus estimates of $2.45 by $0.75. The company had revenue of $511.00 million for the quarter, compared to the consensus estimate of $512.39 million. Medpace had a net margin of 15.92% and a return on equity of 59.74%. Medpace's revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.27 EPS. As a group, analysts expect that Medpace Holdings, Inc. will post 11.23 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MEDP shares. StockNews.com upgraded shares of Medpace from a "hold" rating to a "buy" rating in a research report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft started coverage on shares of Medpace in a research report on Monday, March 18th. They issued a "hold" rating and a $395.00 price target on the stock. Guggenheim raised their price target on shares of Medpace from $453.00 to $464.00 and gave the stock a "buy" rating in a research report on Wednesday. Jefferies Financial Group upgraded shares of Medpace from a "hold" rating to a "buy" rating and raised their price target for the stock from $340.00 to $450.00 in a research report on Tuesday, April 23rd. Finally, Robert W. Baird boosted their target price on shares of Medpace from $446.00 to $454.00 and gave the company an "outperform" rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Medpace currently has an average rating of "Moderate Buy" and a consensus price target of $443.00.

Medpace Company Profile

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.