2,135 Medpace Holdings, Inc. $MEDP Shares Sold by Summit Creek Advisors LLC

Key Points

• Summit Creek Advisors cut its Medpace stake by 33.1% in the third quarter, selling 2,135 shares and ending the period with 4,314 shares valued at about $2.69 million.
• Medpace reported quarterly EPS of $4.84, beating the $4.44 consensus, while revenue rose 8.5% year over year to $716 million.
• Company insiders sold 342,647 shares worth about $213.6 million in the past quarter. Analysts’ consensus rating was Hold, with an average price target of $649.27.

Summit Creek Advisors LLC decreased its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 33.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,314 shares of the company's stock after selling 2,135 shares during the quarter. Summit Creek Advisors LLC's holdings in Medpace were worth $2,693,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MEDP. Johnson Financial Group Inc. bought a new position in shares of Medpace during the second quarter valued at approximately $27,000. Jones Financial Companies Lllp bought a new position in Medpace during the 2nd quarter worth $30,000. Allied Private Wealth LLC bought a new position in shares of Medpace during the second quarter worth about $31,000. Kilter Group LLC acquired a new stake in shares of Medpace in the 2nd quarter worth about $31,000. Finally, Basecamp Wealth Advisors LLC lifted its position in Medpace by 187.5% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 69 shares of the company's stock valued at $33,000 after purchasing an additional 45 shares during the last quarter. Institutional investors own 77.98% of the company's stock.

Medpace Stock Up 2.9%

Shares of NASDAQ MEDP opened at $653.11 on Friday. The stock's fifty day simple moving average is $622.54 and its 200 day simple moving average is $532.32. The stock has a market capitalization of $18.27 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 2.53 and a beta of 1.12. Medpace Holdings, Inc. has a 52-week low of $373.00 and a 52-week high of $693.97.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its earnings results on Wednesday, October 21st. The company reported $4.84 EPS for the quarter, beating the consensus estimate of $4.44 by $0.40. Medpace had a return on equity of 99.76% and a net margin of 18.24%. The business had revenue of $716.00 million during the quarter, compared to the consensus estimate of $714.47 million. During the same period in the prior year, the business posted $3.86 earnings per share. Medpace's revenue was up 8.5% compared to the same quarter last year. As a group, analysts anticipate that Medpace Holdings, Inc. will post 18.06 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO August Troendle sold 49,018 shares of the company's stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $628.11, for a total transaction of $30,788,695.98. Following the transaction, the chief executive officer directly owned 433,372 shares of the company's stock, valued at approximately $272,205,286.92. The trade was a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Susan Burwig sold 16,060 shares of the stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $677.00, for a total value of $10,872,620.00. Following the completion of the sale, the vice president directly owned 57,624 shares of the company's stock, valued at approximately $39,011,448. This represents a 21.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 342,647 shares of company stock worth $213,561,374 in the last quarter. 20.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MEDP shares. BMO Capital Markets boosted their price objective on Medpace from $600.00 to $670.00 and gave the stock a "market perform" rating in a research report on Monday, October 26th. Leerink Partners set a $620.00 target price on Medpace in a research report on Thursday, July 23rd. Weiss Ratings raised Medpace from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. TD Cowen boosted their price target on Medpace from $492.00 to $673.00 and gave the stock a "hold" rating in a research report on Friday, October 23rd. Finally, Royal Bank Of Canada boosted their price target on Medpace from $484.00 to $692.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. Three equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, Medpace has a consensus rating of "Hold" and a consensus target price of $649.27.

About Medpace

Medpace Holdings, Inc is a global contract research organization (CRO) that provides clinical development services to the biotechnology, pharmaceutical and medical device industries. Founded in 1992 and headquartered in Cincinnati, Ohio, the company works with clients developing treatments and medical products across a range of therapeutic areas.

Medpace offers services spanning the clinical development process, including clinical trial planning and management, regulatory affairs, clinical laboratory testing, data management, biostatistics, medical writing and pharmacovigilance.

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