Picton Mahoney Asset Management Takes $2.34 Million Position in Medpace Holdings Inc (MEDP)

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Picton Mahoney Asset Management purchased a new stake in Medpace Holdings Inc (NASDAQ:MEDP) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 39,100 shares of the company’s stock, valued at approximately $2,343,000. Picton Mahoney Asset Management owned approximately 0.11% of Medpace at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. BlackRock Inc. raised its stake in Medpace by 32.4% in the second quarter. BlackRock Inc. now owns 1,605,667 shares of the company’s stock valued at $69,043,000 after buying an additional 392,792 shares in the last quarter. Acadian Asset Management LLC raised its stake in Medpace by 14.2% in the third quarter. Acadian Asset Management LLC now owns 1,464,121 shares of the company’s stock valued at $87,717,000 after buying an additional 182,588 shares in the last quarter. Laurion Capital Management LP acquired a new stake in Medpace in the second quarter valued at $29,230,000. Renaissance Technologies LLC raised its stake in Medpace by 208.9% in the second quarter. Renaissance Technologies LLC now owns 338,900 shares of the company’s stock valued at $14,573,000 after buying an additional 229,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Medpace by 95.3% in the second quarter. Dimensional Fund Advisors LP now owns 323,248 shares of the company’s stock valued at $13,900,000 after buying an additional 157,721 shares in the last quarter. Institutional investors own 40.22% of the company’s stock.

NASDAQ MEDP opened at $58.70 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.66 and a current ratio of 0.66. Medpace Holdings Inc has a 52-week low of $31.70 and a 52-week high of $65.09. The stock has a market cap of $1.98 billion, a P/E ratio of 38.62, a P/E/G ratio of 1.39 and a beta of 1.41.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Thursday, November 1st. The company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.04. Medpace had a return on equity of 15.86% and a net margin of 10.84%. The firm had revenue of $179.00 million for the quarter, compared to analyst estimates of $175.07 million. During the same quarter last year, the company posted $0.40 earnings per share. The business’s revenue was up 44.4% on a year-over-year basis. Analysts predict that Medpace Holdings Inc will post 2.5 earnings per share for the current fiscal year.

In related news, major shareholder Medpace Investors, Llc sold 132,304 shares of the firm’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $58.58, for a total transaction of $7,750,368.32. Following the transaction, the insider now owns 8,989,174 shares of the company’s stock, valued at $526,585,812.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Medpace Limited Partnership sold 5,224,997 shares of the firm’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $54.75, for a total value of $286,068,585.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,621,556 shares of company stock worth $309,490,974. Corporate insiders own 29.50% of the company’s stock.

A number of analysts have weighed in on MEDP shares. SunTrust Banks upgraded Medpace from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Wednesday, October 31st. They noted that the move was a valuation call. TheStreet raised Medpace from a “c” rating to a “b-” rating in a report on Friday, August 10th. William Blair raised Medpace from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 31st. Credit Suisse Group raised their price objective on Medpace from $42.00 to $49.00 and gave the stock an “outperform” rating in a report on Tuesday, July 31st. Finally, Zacks Investment Research raised Medpace from a “hold” rating to a “strong-buy” rating and set a $69.00 price objective on the stock in a report on Friday, August 3rd. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $44.43.

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Medpace Profile

Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in a range of therapeutic areas.

Further Reading: Understanding Price to Earnings Ratio (PE)

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Institutional Ownership by Quarter for Medpace (NASDAQ:MEDP)

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