Lifestyle Asset Management Inc. Sells 247 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Lifestyle Asset Management Inc. reduced its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 6.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 3,740 shares of the company’s stock after selling 247 shares during the period. Medpace makes up approximately 0.9% of Lifestyle Asset Management Inc.’s portfolio, making the stock its 17th largest position. Lifestyle Asset Management Inc.’s holdings in Medpace were worth $1,512,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. RiverPark Advisors LLC bought a new position in shares of Medpace in the fourth quarter valued at $26,000. Contravisory Investment Management Inc. bought a new position in shares of Medpace in the fourth quarter valued at $26,000. Rise Advisors LLC bought a new position in shares of Medpace in the first quarter valued at $27,000. Mather Group LLC. bought a new position in shares of Medpace in the first quarter valued at $28,000. Finally, GAMMA Investing LLC bought a new position in shares of Medpace in the fourth quarter valued at $30,000. 77.98% of the stock is owned by institutional investors.

Insider Transactions at Medpace

In related news, CEO August J. Troendle sold 5,695 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $395.49, for a total value of $2,252,315.55. Following the completion of the transaction, the chief executive officer now owns 654,656 shares of the company’s stock, valued at $258,909,901.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO August J. Troendle sold 5,695 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $395.49, for a total value of $2,252,315.55. Following the completion of the transaction, the chief executive officer now owns 654,656 shares of the company’s stock, valued at $258,909,901.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO August J. Troendle sold 15,102 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $400.69, for a total value of $6,051,220.38. Following the transaction, the chief executive officer now directly owns 791,541 shares of the company’s stock, valued at approximately $317,162,563.29. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,621 shares of company stock valued at $11,816,852. 20.30% of the stock is currently owned by corporate insiders.

Medpace Stock Down 0.3 %

Shares of MEDP traded down $1.35 during midday trading on Wednesday, reaching $403.07. 119,940 shares of the stock were exchanged, compared to its average volume of 230,896. Medpace Holdings, Inc. has a twelve month low of $227.21 and a twelve month high of $437.39. The company has a market cap of $12.49 billion, a P/E ratio of 41.09, a PEG ratio of 2.04 and a beta of 1.36. The stock’s 50 day simple moving average is $397.80 and its 200 day simple moving average is $369.78.

Medpace (NASDAQ:MEDP) last posted its 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 return on equity of 59.74% and a net margin of 15.92%. The company had revenue of $511.00 million during the quarter, compared to the consensus estimate of $512.39 million. During the same quarter last year, the firm earned $2.27 earnings per share. The company’s revenue was up 17.7% on a year-over-year basis. As a group, analysts predict that Medpace Holdings, Inc. will post 11.29 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on MEDP. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Medpace in a research note on Monday, March 18th. They issued a “hold” rating and a $395.00 target price for the company. Robert W. Baird lifted their price objective on shares of Medpace from $446.00 to $454.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Jefferies Financial Group raised shares of Medpace from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $340.00 to $450.00 in a research report on Tuesday, April 23rd. Guggenheim lifted their price objective on shares of Medpace from $453.00 to $464.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, June 7th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Medpace presently has an average rating of “Moderate Buy” and an average price target of $443.14.

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.