Annex Advisory Services LLC Sells 3,769 Shares of Medpace Holdings, Inc. $MEDP

Key Points

• Annex Advisory Services LLC reduced its stake in Medpace Holdings by 3.8%, selling 3,769 shares, leaving it with approximately 0.33% of the company, valued at nearly $30 million.
• Analyst price targets for Medpace vary widely, with notable upgrades from firms like Robert W. Baird and Deutsche Bank, listing target prices between $430.00 and $490.00.
• Medpace reported earnings of $3.10 per share, beating estimates and showing a 14.2% revenue increase compared to the same quarter last year.

Annex Advisory Services LLC lowered its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,421 shares of the company's stock after selling 3,769 shares during the quarter. Annex Advisory Services LLC owned 0.33% of Medpace worth $29,949,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MEDP. Geneos Wealth Management Inc. raised its holdings in shares of Medpace by 64.9% during the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company's stock valued at $29,000 after acquiring an additional 37 shares during the period. Brooklyn Investment Group raised its holdings in shares of Medpace by 244.8% during the first quarter. Brooklyn Investment Group now owns 100 shares of the company's stock valued at $30,000 after acquiring an additional 71 shares during the period. Whittier Trust Co. raised its holdings in shares of Medpace by 47.3% during the first quarter. Whittier Trust Co. now owns 109 shares of the company's stock valued at $33,000 after acquiring an additional 35 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Medpace in the 1st quarter valued at approximately $60,000. Finally, Assetmark Inc. increased its stake in Medpace by 24.9% in the 1st quarter. Assetmark Inc. now owns 216 shares of the company's stock valued at $66,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds own 77.98% of the company's stock.

Medpace Stock Down 0.6%

MEDP stock traded down $2.83 during trading hours on Tuesday, hitting $495.27. The company's stock had a trading volume of 71,423 shares, compared to its average volume of 437,576. The company has a market capitalization of $13.91 billion, a PE ratio of 36.83, a price-to-earnings-growth ratio of 3.14 and a beta of 1.44. Medpace Holdings, Inc. has a 12 month low of $250.05 and a 12 month high of $506.55. The stock has a 50 day moving average price of $450.44 and a two-hundred day moving average price of $356.61.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its earnings results on Monday, July 21st. The company reported $3.10 EPS for the quarter, topping the consensus estimate of $3.00 by $0.10. The company had revenue of $603.31 million during the quarter, compared to the consensus estimate of $537.70 million. Medpace had a net margin of 18.74% and a return on equity of 67.66%. The company's revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.75 earnings per share. Medpace has set its FY 2025 guidance at 13.760-14.53 EPS. Sell-side analysts expect that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MEDP has been the topic of several research reports. Barclays upped their price objective on shares of Medpace from $300.00 to $450.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 23rd. TD Cowen reiterated a "sell" rating and issued a $366.00 price objective (up previously from $283.00) on shares of Medpace in a research note on Wednesday, July 23rd. Jefferies Financial Group upped their price objective on shares of Medpace from $400.00 to $450.00 and gave the company a "hold" rating in a research note on Tuesday, September 9th. Cowen lowered shares of Medpace from a "buy" rating to a "sell" rating in a research note on Wednesday, July 23rd. Finally, Mizuho upped their price objective on shares of Medpace from $328.00 to $510.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Two investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $422.27.

Insider Buying and Selling

In related news, VP Susan E. Burwig sold 10,000 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $480.00, for a total transaction of $4,800,000.00. Following the completion of the sale, the vice president directly owned 57,500 shares of the company's stock, valued at approximately $27,600,000. This represents a 14.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO August J. Troendle sold 36,196 shares of the company's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $475.90, for a total transaction of $17,225,676.40. Following the sale, the chief executive officer directly owned 925,799 shares of the company's stock, valued at approximately $440,587,744.10. This represents a 3.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 161,266 shares of company stock valued at $74,111,427. 20.30% of the stock is owned by company insiders.

About Medpace

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.