Transcend Capital Advisors LLC Acquires New Stake in Medpace Holdings, Inc. $MEDP

Transcend Capital Advisors LLC acquired a new stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 947 shares of the company’s stock, valued at approximately $487,000.

A number of other institutional investors have also recently modified their holdings of MEDP. Norges Bank purchased a new position in shares of Medpace in the 2nd quarter worth about $66,597,000. Clarkston Capital Partners LLC bought a new stake in Medpace during the 2nd quarter valued at about $40,569,000. Mawer Investment Management Ltd. raised its holdings in Medpace by 17.4% in the second quarter. Mawer Investment Management Ltd. now owns 817,432 shares of the company’s stock worth $256,559,000 after buying an additional 121,213 shares during the last quarter. Bares Capital Management Inc. lifted its stake in shares of Medpace by 319.2% in the second quarter. Bares Capital Management Inc. now owns 157,084 shares of the company’s stock worth $49,302,000 after buying an additional 119,608 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Medpace by 79.3% in the second quarter. JPMorgan Chase & Co. now owns 265,270 shares of the company’s stock worth $83,258,000 after buying an additional 117,301 shares in the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Medpace Price Performance

Shares of MEDP opened at $568.53 on Wednesday. The firm has a market capitalization of $16.02 billion, a P/E ratio of 39.76, a PEG ratio of 1.98 and a beta of 1.42. Medpace Holdings, Inc. has a one year low of $250.05 and a one year high of $628.92. The business has a fifty day moving average of $582.81 and a 200 day moving average of $536.08.

Insider Activity at Medpace

In other Medpace news, VP Susan E. Burwig sold 20,000 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $609.15, for a total value of $12,183,000.00. Following the transaction, the vice president directly owned 27,500 shares in the company, valued at approximately $16,751,625. This trade represents a 42.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO August J. Troendle sold 59,025 shares of Medpace stock in a transaction on Monday, November 24th. The stock was sold at an average price of $607.78, for a total transaction of $35,874,214.50. Following the transaction, the chief executive officer owned 774,602 shares in the company, valued at $470,787,603.56. This represents a 7.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 320,192 shares of company stock worth $192,909,762 in the last quarter. Company insiders own 20.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MEDP. Wall Street Zen raised shares of Medpace from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. TD Cowen reissued a “sell” rating on shares of Medpace in a report on Friday, October 24th. Barclays boosted their price target on Medpace from $485.00 to $525.00 and gave the stock an “underweight” rating in a research note on Monday, December 15th. BMO Capital Markets started coverage on Medpace in a research report on Thursday, November 13th. They set a “market perform” rating and a $600.00 price objective on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Medpace in a report on Wednesday, January 28th. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $491.27.

About Medpace

Medpace Holdings, Inc (NASDAQ: MEDP) is a global contract research organization (CRO) that provides comprehensive clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports clinical trials across all phases (I–IV), offering end-to-end solutions designed to streamline the development process and accelerate the delivery of new therapies to market.

Medpace’s core service offerings include clinical pharmacology, regulatory affairs consulting, project management, central laboratory services, imaging, data management and biostatistics, pharmacovigilance and medical writing.