Medpace Holdings, Inc. $MEDP Shares Acquired by Ascent Group LLC

Ascent Group LLC lifted its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 10.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 16,818 shares of the company’s stock after acquiring an additional 1,641 shares during the period. Ascent Group LLC’s holdings in Medpace were worth $5,278,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Invesco Ltd. boosted its position in shares of Medpace by 9.4% during the first quarter. Invesco Ltd. now owns 1,186,768 shares of the company’s stock worth $361,596,000 after buying an additional 102,015 shares during the period. Mawer Investment Management Ltd. acquired a new position in shares of Medpace during the first quarter worth approximately $212,131,000. Bessemer Group Inc. boosted its position in shares of Medpace by 1.1% during the first quarter. Bessemer Group Inc. now owns 582,269 shares of the company’s stock worth $177,411,000 after buying an additional 6,225 shares during the period. AQR Capital Management LLC raised its holdings in Medpace by 12.4% during the first quarter. AQR Capital Management LLC now owns 539,547 shares of the company’s stock worth $158,470,000 after purchasing an additional 59,361 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Medpace by 36.0% during the first quarter. Northern Trust Corp now owns 337,489 shares of the company’s stock worth $102,830,000 after purchasing an additional 89,347 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Medpace news, CEO August J. Troendle sold 48,487 shares of the business’s stock in a transaction on Monday, July 28th. The shares were sold at an average price of $451.69, for a total transaction of $21,901,093.03. Following the sale, the chief executive officer directly owned 962,615 shares of the company’s stock, valued at $434,803,569.35. The trade was a 4.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Stephen P. Ewald sold 3,000 shares of the firm’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $450.00, for a total value of $1,350,000.00. Following the completion of the sale, the general counsel directly owned 10,343 shares of the company’s stock, valued at approximately $4,654,350. This trade represents a 22.48% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 161,266 shares of company stock worth $74,111,427. 20.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. UBS Group cut Medpace from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $300.00 to $305.00 in a report on Tuesday, July 29th. Zacks Research cut Medpace from a “strong-buy” rating to a “hold” rating in a report on Monday, September 22nd. William Blair reissued a “market perform” rating on shares of Medpace in a report on Wednesday, July 23rd. Robert W. Baird boosted their target price on Medpace from $313.00 to $490.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Finally, Barclays boosted their target price on Medpace from $300.00 to $450.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 23rd. Three analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $422.27.

Medpace Stock Performance

NASDAQ MEDP opened at $532.49 on Friday. The stock has a market capitalization of $14.96 billion, a P/E ratio of 39.59, a P/E/G ratio of 3.37 and a beta of 1.40. Medpace Holdings, Inc. has a 1 year low of $250.05 and a 1 year high of $547.15. The business’s fifty day moving average is $474.84 and its two-hundred day moving average is $367.72.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, July 21st. The company reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.10. The company had revenue of $603.31 million for the quarter, compared to analysts’ expectations of $537.70 million. Medpace had a return on equity of 67.66% and a net margin of 18.74%.The firm’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.75 earnings per share. Medpace has set its FY 2025 guidance at 13.760-14.53 EPS. On average, research analysts forecast that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Medpace Profile

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.