Forte Capital LLC ADV Cuts Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Forte Capital LLC ADV lowered its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,055 shares of the company’s stock after selling 80 shares during the quarter. Forte Capital LLC ADV’s holdings in Medpace were worth $936,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Contravisory Investment Management Inc. bought a new position in Medpace during the fourth quarter valued at approximately $26,000. RiverPark Advisors LLC bought a new stake in Medpace in the fourth quarter worth $26,000. GAMMA Investing LLC purchased a new stake in Medpace during the fourth quarter valued at $30,000. McGlone Suttner Wealth Management Inc. bought a new position in Medpace during the fourth quarter valued at $33,000. Finally, FinTrust Capital Advisors LLC bought a new position in shares of Medpace in the 3rd quarter valued at about $30,000. Institutional investors own 77.98% of the company’s stock.

Insider Buying and Selling at Medpace

In related news, VP Susan E. Burwig sold 102 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $403.00, for a total value of $41,106.00. Following the completion of the transaction, the vice president now directly owns 15,181 shares in the company, valued at approximately $6,117,943. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Medpace news, VP Susan E. Burwig sold 102 shares of the firm’s stock in a transaction that occurred on 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO August J. Troendle sold 100,000 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 4,833,019 shares in the company, valued at $1,995,940,186.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 204,442 shares of company stock worth $82,702,867. Insiders own 20.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MEDP. Robert W. Baird increased their price target on Medpace from $446.00 to $454.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. 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 price objective for the company. StockNews.com raised Medpace from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Jefferies Financial Group raised 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 note on Tuesday, April 23rd. Finally, Guggenheim lifted their target price on Medpace from $453.00 to $464.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Medpace presently has a consensus rating of “Moderate Buy” and an average price target of $443.00.

Medpace Stock Up 0.4 %

Shares of Medpace stock traded up $1.50 during midday trading on Friday, hitting $392.57. The company had a trading volume of 133,312 shares, compared to its average volume of 261,284. The company has a fifty day simple moving average of $398.08 and a 200 day simple moving average of $330.45. The stock has a market cap of $12.16 billion, a price-to-earnings ratio of 40.02, a PEG ratio of 1.95 and a beta of 1.40. Medpace Holdings, Inc. has a 12-month low of $197.39 and a 12-month high of $421.00.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, April 22nd. The company reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.75. The firm had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $512.39 million. Medpace had a return on equity of 59.74% and a net margin of 15.92%. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period last year, the business posted $2.27 earnings per share. As a group, analysts expect that Medpace Holdings, Inc. will post 11.23 EPS for the current year.

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.