Allianz Asset Management GmbH Sells 3,639 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Key Points

• Allianz Asset Management GmbH reduced its stake in Medpace Holdings, Inc. by 66.4%, holding only 1,845 shares valued at approximately $562,000 after selling 3,639 shares in the first quarter.
• Despite a decline in stock price, Medpace reported earnings of $3.10 per share for the last quarter, exceeding analysts' expectations of $3.00, with a revenue increase of 14.2% year-over-year.
• Insider sales included a significant transaction by CEO August J. Troendle, who sold 48,487 shares for over $21 million, marking a 4.80% decrease in his ownership of the stock.

Allianz Asset Management GmbH lowered its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 66.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,845 shares of the company's stock after selling 3,639 shares during the period. Allianz Asset Management GmbH's holdings in Medpace were worth $562,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MEDP. Whittier Trust Co. lifted its position in Medpace by 47.3% in the 1st quarter. Whittier Trust Co. now owns 109 shares of the company's stock valued at $33,000 after purchasing an additional 35 shares during the last quarter. Colonial Trust Co SC grew its position in Medpace by 150.0% in the fourth quarter. Colonial Trust Co SC now owns 175 shares of the company's stock worth $58,000 after acquiring an additional 105 shares in the last quarter. True Wealth Design LLC boosted its holdings in shares of Medpace by 52.7% during the 4th quarter. True Wealth Design LLC now owns 258 shares of the company's stock worth $86,000 after buying an additional 89 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Medpace by 37.1% during the 1st quarter. GAMMA Investing LLC now owns 307 shares of the company's stock worth $94,000 after buying an additional 83 shares during the period. Finally, GeoWealth Management LLC boosted its holdings in Medpace by 27.8% in the 4th quarter. GeoWealth Management LLC now owns 285 shares of the company's stock valued at $95,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 77.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MEDP shares. UBS Group lowered shares of Medpace from a "neutral" rating to a "sell" rating and raised their target price for the company from $300.00 to $305.00 in a research note on Tuesday, July 29th. Robert W. Baird upped their price objective on shares of Medpace from $313.00 to $490.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Barclays upped their price target on shares of Medpace from $300.00 to $450.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Medpace from $270.00 to $430.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. Finally, TD Cowen reiterated a "sell" rating and issued a $366.00 price objective (up previously from $283.00) on shares of Medpace in a report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $406.60.

Insider Transactions at Medpace

In other Medpace news, CEO August J. Troendle sold 48,487 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $451.69, for a total value of $21,901,093.03. Following the completion of the sale, the chief executive officer owned 962,615 shares in the company, valued at approximately $434,803,569.35. The trade was a 4.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Jesse J. Geiger sold 41,801 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $453.11, for a total value of $18,940,451.11. Following the transaction, the president directly owned 36,503 shares in the company, valued at $16,539,874.33. This trade represents a 53.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 112,788 shares of company stock valued at $51,018,354. Insiders own 20.30% of the company's stock.

Medpace Price Performance

MEDP stock traded up $9.34 during mid-day trading on Monday, reaching $432.43. 293,952 shares of the company traded hands, compared to its average volume of 765,360. The company has a market capitalization of $12.15 billion, a P/E ratio of 31.46, a P/E/G ratio of 2.66 and a beta of 1.42. Medpace Holdings, Inc. has a 52-week low of $250.05 and a 52-week high of $501.30. The company has a fifty day moving average price of $333.51 and a 200-day moving average price of $323.96.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The company reported $3.10 EPS for the quarter, topping the consensus estimate of $3.00 by $0.10. Medpace had a return on equity of 67.66% and a net margin of 18.74%. The company had revenue of $603.31 million during the quarter, compared to analyst estimates of $537.70 million. During the same quarter in the previous year, the firm earned $2.75 earnings per share. Medpace's revenue was up 14.2% on a year-over-year basis. As a group, analysts forecast that Medpace Holdings, Inc. will post 12.29 EPS 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.