Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lessened its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 12.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,276 shares of the company’s stock after selling 10,680 shares during the quarter. Lazard Asset Management LLC owned 0.23% of Medpace worth $29,210,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Rise Advisors LLC purchased a new stake in shares of Medpace in the first quarter valued at approximately $27,000. Mather Group LLC. purchased a new stake in shares of Medpace during the 1st quarter worth $28,000. GAMMA Investing LLC acquired a new position in shares of Medpace during the 4th quarter worth $30,000. Fidelis Capital Partners LLC purchased a new position in shares of Medpace in the 1st quarter valued at about $31,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Medpace in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on MEDP shares. Guggenheim dropped their target price on shares of Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. StockNews.com raised Medpace from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Jefferies Financial Group raised Medpace from a “hold” rating to a “buy” rating and upped their target price for the company from $340.00 to $450.00 in a report on Tuesday, April 23rd. Mizuho assumed coverage on shares of Medpace in a research note on Tuesday, May 28th. They set a “buy” rating and a $435.00 price objective for the company. Finally, Robert W. Baird dropped their price target on Medpace from $469.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Medpace currently has an average rating of “Moderate Buy” and an average price target of $424.14.

Insider Buying and Selling at Medpace

In related news, CEO August J. Troendle sold 3,987 shares of Medpace stock in a transaction on Friday, May 24th. The shares were sold at an average price of $395.22, for a total value of $1,575,742.14. Following the completion of the sale, the chief executive officer now owns 660,351 shares in the company, valued at $260,983,922.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO August J. Troendle sold 5,695 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $395.49, for a total transaction of $2,252,315.55. Following the sale, the chief executive officer now owns 654,656 shares in the company, valued at $258,909,901.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO August J. Troendle sold 3,987 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $395.22, for a total value of $1,575,742.14. Following the transaction, the chief executive officer now owns 660,351 shares of the company’s stock, valued at approximately $260,983,922.22. The disclosure for this sale can be found here. Insiders sold a total of 14,519 shares of company stock worth $5,765,631 in the last 90 days. 20.30% of the stock is owned by corporate insiders.

Medpace Price Performance

Shares of NASDAQ MEDP opened at $381.47 on Monday. The company has a market capitalization of $11.83 billion, a price-to-earnings ratio of 38.89, a PEG ratio of 1.97 and a beta of 1.36. Medpace Holdings, Inc. has a 1-year low of $227.21 and a 1-year high of $459.77. The business has a 50-day moving average of $404.32 and a 200-day moving average of $383.43.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.21. The company had revenue of $528.10 million during the quarter, compared to the consensus estimate of $528.41 million. Medpace had a net margin of 16.74% and a return on equity of 55.14%. Medpace’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter last year, the company earned $1.93 earnings per share. Research analysts expect that Medpace Holdings, Inc. will post 11.69 EPS for the current fiscal year.

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.