Public Employees Retirement System of Ohio has slightly reduced its stake in Medpace Holdings, Inc. (NASDAQ:MEDP – Free Report) by 0.3% during the second quarter, as revealed in its latest filing with the Securities & Exchange Commission. The firm now holds 20,125 shares of Medpace after selling 53 shares during the quarter, with a total value of approximately $6,316,000.
Other large investors have also adjusted their positions in MEDP. Geneos Wealth Management Inc. increased its holdings by an impressive 64.9% in the first quarter, now owning 94 shares valued at $29,000 after acquiring an additional 37 shares. Similarly, Brooklyn Investment Group saw a remarkable 244.8% growth in its holdings, now owning 100 shares worth $30,000 after adding 71 shares. Whittier Trust Co. increased its stake by 47.3%, owning 109 shares valued at $33,000 after purchasing 35 additional shares. Bank Julius Baer & Co. Ltd Zurich entered a new position in Medpace valued at around $60,000 in the first quarter. Lastly, Assetmark Inc. raised its holdings by 24.9%, now owning 216 shares worth $66,000 after buying 43 more shares. Notably, hedge funds and other institutional investors collectively own 77.98% of the company’s stock.
Insider Activity at Medpace
In recent insider news, General Counsel Stephen P. Ewald sold 3,000 shares of the firm on July 28th at an average price of $450.00, totaling $1,350,000. Following this transaction, Ewald holds 10,343 shares valued at $4,654,350, marking a 22.48% decrease in his position. This sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. Additionally, Director Cornelius P. Mccarthy III sold 1,662 shares on August 19th at an average price of $465.04, amounting to $772,896.48. Post-sale, he owns 10,197 shares valued at $4,742,012.88, reflecting a 14.01% decrease in ownership. Over the past ninety days, insiders have sold 161,266 shares valued at $74,111,427, with insiders currently holding 20.30% of the stock.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on Medpace. Barclays raised their target price from $300.00 to $450.00, assigning an “equal weight” rating on July 23rd. Truist Financial also increased their price objective from $298.00 to $436.00, maintaining a “hold” rating. Conversely, Rothschild & Co Redburn downgraded Medpace from a “buy” to a “neutral” rating, raising their target price from $342.00 to $474.00 on September 3rd. UBS Group cut their rating from “neutral” to “sell,” adjusting their target price from $300.00 to $305.00 on July 29th. William Blair reaffirmed a “market perform” rating on July 23rd. Currently, two analysts rate the stock as a Buy, twelve as Hold, and three as Sell, leading to an average rating of “Reduce” and a target price of $422.27 according to MarketBeat.com.
Medpace Stock Up 1.8%
On Monday, shares of MEDP opened at $496.79. The company has a fifty-two week low of $250.05 and a high of $506.55. Its fifty-day moving average stands at $464.83, while the two-hundred-day moving average is $361.31. Medpace boasts a market cap of $13.95 billion, a PE ratio of 36.94, a price-to-earnings-growth ratio of 3.13, and a beta of 1.44.
Medpace (NASDAQ:MEDP – Get Free Report) recently announced its quarterly earnings on July 21st, reporting $3.10 earnings per share, surpassing analysts’ expectations of $3.00 by $0.10. The firm generated revenue of $603.31 million, exceeding the anticipated $537.70 million. With a net margin of 18.74% and a return on equity of 67.66%, Medpace’s revenue increased by 14.2% compared to the same quarter last year. The company has set its FY 2025 guidance at 13.760-14.53 EPS, with analysts predicting an average of 12.29 earnings per share for the current year.
Medpace Company Profile
Medpace Holdings, Inc. specializes in providing outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries. Their offerings encompass a wide range of services, including medical department operations, clinical trial management, data-driven feasibility studies, regulatory affairs, patient recruitment, and quality assurance.
See Also
Want to see what other hedge funds are holding MEDP? Visit HoldingsChannel.com for the latest 13F filings and insider trades for Medpace Holdings, Inc. (NASDAQ:MEDP – Free Report).
Receive News & Ratings for Medpace Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Medpace and related companies with MarketBeat.com’s FREE daily email newsletter.
