Chase Investment Counsel Corp Has $2.97 Million Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Chase Investment Counsel Corp lessened its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,676 shares of the company’s stock after selling 173 shares during the quarter. Medpace accounts for approximately 1.3% of Chase Investment Counsel Corp’s holdings, making the stock its 24th largest holding. Chase Investment Counsel Corp’s holdings in Medpace were worth $2,965,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Riverbridge Partners LLC raised its stake in shares of Medpace by 7.1% in the 4th quarter. Riverbridge Partners LLC now owns 652,384 shares of the company’s stock valued at $199,975,000 after purchasing an additional 43,197 shares during the period. Invesco Ltd. raised its stake in shares of Medpace by 67.6% in the 3rd quarter. Invesco Ltd. now owns 611,900 shares of the company’s stock valued at $148,159,000 after purchasing an additional 246,775 shares during the period. Wellington Management Group LLP raised its stake in shares of Medpace by 312.6% in the 3rd quarter. Wellington Management Group LLP now owns 421,313 shares of the company’s stock valued at $102,013,000 after purchasing an additional 319,210 shares during the period. Northern Trust Corp raised its stake in shares of Medpace by 4.0% in the 3rd quarter. Northern Trust Corp now owns 241,202 shares of the company’s stock valued at $58,402,000 after purchasing an additional 9,192 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Medpace by 55.7% in the 3rd quarter. AQR Capital Management LLC now owns 183,310 shares of the company’s stock valued at $44,385,000 after purchasing an additional 65,614 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

Analysts Set New Price Targets

MEDP has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Medpace in a research note on Monday, March 18th. They issued a “hold” rating and a $395.00 price target on the stock. StockNews.com upgraded Medpace from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Guggenheim raised their price objective on Medpace from $453.00 to $464.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. UBS Group upgraded Medpace from a “neutral” rating to a “buy” rating and raised their price objective for the company from $282.00 to $452.00 in a report on Thursday, February 15th. Finally, Robert W. Baird raised their price objective on Medpace from $446.00 to $454.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $443.00.

Medpace Stock Performance

Shares of NASDAQ MEDP traded up $5.12 during midday trading on Monday, reaching $401.05. The company’s stock had a trading volume of 67,132 shares, compared to its average volume of 248,537. Medpace Holdings, Inc. has a fifty-two week low of $197.39 and a fifty-two week high of $421.00. The business’s 50 day moving average price is $397.83 and its two-hundred day moving average price is $326.26. The company has a market cap of $12.43 billion, a P/E ratio of 40.86, a P/E/G ratio of 1.97 and a beta of 1.38.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, April 22nd. The company reported $3.20 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $512.39 million. During the same period in the previous year, the business earned $2.27 earnings per share. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. Sell-side analysts forecast that Medpace Holdings, Inc. will post 11.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Medpace

In other Medpace news, CEO August J. Troendle sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total transaction of $41,298,000.00. Following the completion of the transaction, the chief executive officer now directly owns 4,833,019 shares in the company, valued at $1,995,940,186.62. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, major shareholder Medpace Investors, Llc sold 13,988 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $386.39, for a total transaction of $5,404,823.32. Following the completion of the transaction, the insider now directly owns 5,525,959 shares in the company, valued at $2,135,175,298.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO August J. Troendle sold 100,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $412.98, for a total transaction of $41,298,000.00. Following the transaction, the chief executive officer now owns 4,833,019 shares of the company’s stock, valued at $1,995,940,186.62. The disclosure for this sale can be found here. Insiders sold a total of 189,340 shares of company stock worth $76,651,647 over the last three months. Corporate insiders own 20.30% of the company’s stock.

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.