Asio Capital LLC Grows Stake in Medpace Holdings, Inc. $MEDP

Key Points

• Asio Capital LLC increased its stake in Medpace Holdings by 16.9% during the second quarter, owning 8,494 shares worth approximately $2.67 million after acquiring additional shares.
• Several institutional investors, including GAMMA Investing LLC and Inspire Investing LLC, have recently increased their positions in Medpace, reflecting strong institutional interest in the stock with 77.98% of it owned by such investors.
• Analysts have set new price targets for Medpace, with a consensus rating of "Reduce" and an average price target of $422.27 despite some analysts issuing a "Buy" or "Hold" rating.

Asio Capital LLC boosted its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 16.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,494 shares of the company's stock after acquiring an additional 1,230 shares during the quarter. Asio Capital LLC's holdings in Medpace were worth $2,666,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MEDP. GAMMA Investing LLC increased its position in shares of Medpace by 37.1% during the 1st quarter. GAMMA Investing LLC now owns 307 shares of the company's stock valued at $94,000 after purchasing an additional 83 shares during the last quarter. Inspire Investing LLC bought a new stake in Medpace during the first quarter valued at approximately $2,059,000. Voya Investment Management LLC increased its holdings in Medpace by 7.6% during the first quarter. Voya Investment Management LLC now owns 21,976 shares of the company's stock valued at $6,696,000 after buying an additional 1,560 shares during the last quarter. Zeno Equity Partners LLP raised its position in Medpace by 2.6% in the first quarter. Zeno Equity Partners LLP now owns 62,304 shares of the company's stock worth $18,983,000 after acquiring an additional 1,564 shares during the period. Finally, United Services Automobile Association bought a new position in Medpace in the first quarter worth approximately $500,000. 77.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MEDP has been the subject of a number of recent research reports. TD Cowen reissued a "sell" rating and set a $366.00 price objective (up previously from $283.00) on shares of Medpace in a research report on Wednesday, July 23rd. William Blair reissued a "market perform" rating on shares of Medpace in a report on Wednesday, July 23rd. Jefferies Financial Group upped their price target on Medpace from $400.00 to $450.00 and gave the stock a "hold" rating in a research report on Tuesday, September 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on Medpace from $270.00 to $430.00 and gave the company a "hold" rating in a research report on Wednesday, July 23rd. Finally, Robert W. Baird increased their target price 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 analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $422.27.

Insider Buying and Selling

In other Medpace news, General Counsel Stephen P. Ewald sold 3,000 shares of the business's stock in a transaction on 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 sale, the general counsel owned 10,343 shares in the company, valued at $4,654,350. The trade was a 22.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin M. Brady sold 12,000 shares of the firm's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $454.23, for a total value of $5,450,760.00. Following the transaction, the chief financial officer owned 6,000 shares of the company's stock, valued at approximately $2,725,380. The trade was a 66.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 161,266 shares of company stock worth $74,111,427 in the last 90 days. 20.30% of the stock is owned by company insiders.

Medpace Trading Up 0.8%

NASDAQ MEDP opened at $500.76 on Tuesday. Medpace Holdings, Inc. has a 12 month low of $250.05 and a 12 month high of $506.55. The stock has a market cap of $14.07 billion, a PE ratio of 37.23, a P/E/G ratio of 3.13 and a beta of 1.44. The stock's 50 day moving average is $468.67 and its 200 day moving average is $362.54.

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