Ascent Group LLC Grows Stock Holdings in Medpace Holdings, Inc. $MEDP

Key Points

• Ascent Group LLC increased its stake in Medpace Holdings, Inc. by 61.9% in the first quarter, owning a total of 15,177 shares valued at approximately $4.6 million.
• Insider selling was noted, with VP Susan E. Burwig and General Counsel Stephen P. Ewald selling 10,000 and 3,000 shares, respectively, reducing their holdings significantly.
• Analysts have recently dropped their ratings for Medpace, with changes including a downgrade from "strong-buy" to "hold," while raising price targets within a range of $436.00 to $510.00.

Ascent Group LLC raised its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 61.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,177 shares of the company's stock after buying an additional 5,803 shares during the quarter. Ascent Group LLC owned about 0.05% of Medpace worth $4,624,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Brooklyn Investment Group raised its position in shares of Medpace by 244.8% in the 1st quarter. Brooklyn Investment Group now owns 100 shares of the company's stock valued at $30,000 after purchasing an additional 71 shares during the last quarter. Whittier Trust Co. raised its position in shares of 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. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Medpace in the 1st quarter valued at approximately $60,000. Assetmark Inc. raised its position in shares of Medpace by 24.9% in the 1st quarter. Assetmark Inc. now owns 216 shares of the company's stock valued at $66,000 after purchasing an additional 43 shares during the last quarter. Finally, True Wealth Design LLC raised its position in shares of Medpace by 52.7% in the 4th quarter. True Wealth Design LLC now owns 258 shares of the company's stock valued at $86,000 after purchasing an additional 89 shares during the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Medpace

In related news, VP Susan E. Burwig sold 10,000 shares of the business's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $480.00, for a total value of $4,800,000.00. Following the sale, the vice president directly owned 57,500 shares in the company, valued at approximately $27,600,000. The trade was a 14.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Stephen P. Ewald sold 3,000 shares of Medpace stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $450.00, for a total value of $1,350,000.00. Following the completion of the transaction, the general counsel directly owned 10,343 shares of the company's stock, valued at approximately $4,654,350. This represents a 22.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 161,266 shares of company stock worth $74,111,427. Corporate insiders own 20.30% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on MEDP shares. Rothschild Redb downgraded shares of Medpace from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 3rd. Rothschild & Co Redburn downgraded shares of Medpace from a "buy" rating to a "neutral" rating and increased their price target for the stock from $342.00 to $474.00 in a report on Wednesday, September 3rd. Truist Financial increased their price target on shares of Medpace from $298.00 to $436.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. Mizuho increased their price target on shares of Medpace from $328.00 to $510.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Finally, Robert W. Baird increased their price target on shares of Medpace from $313.00 to $490.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Two research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $412.73.

Medpace Stock Performance

Medpace stock opened at $486.98 on Monday. The company's fifty day moving average price is $412.68 and its 200 day moving average price is $344.18. Medpace Holdings, Inc. has a 1 year low of $250.05 and a 1 year high of $501.30. The stock has a market capitalization of $13.68 billion, a P/E ratio of 36.21, a P/E/G ratio of 3.06 and a beta of 1.44.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The company reported $3.10 earnings per share for the quarter, beating analysts' consensus estimates of $3.00 by $0.10. The company had revenue of $603.31 million for the quarter, compared to analyst estimates of $537.70 million. Medpace had a return on equity of 67.66% and a net margin of 18.74%.The firm's revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.75 EPS. Medpace has set its FY 2025 guidance at 13.760-14.53 EPS. Sell-side analysts predict 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.

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