Corebridge Financial Inc. Sells 1,254 Shares of Medpace Holdings, Inc. $MEDP

Key Points

• Corebridge Financial Inc. reduced its holdings in Medpace Holdings, Inc. by 4.3%, owning 27,877 shares worth approximately $8.49 million after selling 1,254 shares in the first quarter.
• Insider sales include VP Susan E. Burwig selling 7,500 shares for around $3.38 million and CEO August J. Troendle selling 48,487 shares valued at about $21.90 million, indicating a decrease in their ownership positions.
• Medpace reported earnings of $3.10 per share for the last quarter, exceeding expectations, with a revenue of $603.31 million, demonstrating a year-over-year growth of 14.2%.

Corebridge Financial Inc. lowered its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 4.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,877 shares of the company's stock after selling 1,254 shares during the quarter. Corebridge Financial Inc. owned 0.10% of Medpace worth $8,494,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MEDP. Brooklyn Investment Group grew its holdings in 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 purchasing an additional 71 shares during the period. Whittier Trust Co. grew its holdings in 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 purchasing an additional 35 shares during the period. Colonial Trust Co SC grew its holdings in Medpace by 150.0% during the fourth quarter. Colonial Trust Co SC now owns 175 shares of the company's stock valued at $58,000 after purchasing an additional 105 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Medpace during the first quarter valued at approximately $60,000. Finally, Assetmark Inc. grew its holdings in Medpace by 24.9% during the first quarter. Assetmark Inc. now owns 216 shares of the company's stock valued at $66,000 after purchasing an additional 43 shares during the period. Institutional investors and hedge funds own 77.98% of the company's stock.

Medpace Stock Up 0.5%

Shares of MEDP stock traded up $2.57 during trading on Friday, reaching $475.51. The company's stock had a trading volume of 408,536 shares, compared to its average volume of 336,278. The business has a fifty day moving average price of $395.75 and a 200-day moving average price of $339.36. The company has a market cap of $13.36 billion, a price-to-earnings ratio of 35.35, a price-to-earnings-growth ratio of 2.99 and a beta of 1.44. Medpace Holdings, Inc. has a one year low of $250.05 and a one year high of $501.30.

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

Insiders Place Their Bets

In other Medpace news, Director Cornelius P. Mccarthy III sold 1,662 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $465.04, for a total transaction of $772,896.48. Following the sale, the director directly owned 10,197 shares of the company's stock, valued at approximately $4,742,012.88. This represents a 14.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Stephen P. Ewald sold 3,000 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the sale, the general counsel directly owned 10,343 shares in the company, valued at $4,654,350. This trade represents a 22.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 115,070 shares of company stock valued at $52,085,751 over the last 90 days. 20.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Robert W. Baird boosted 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. William Blair reaffirmed a "market perform" rating on shares of Medpace in a research note on Wednesday, July 23rd. TD Cowen reaffirmed a "sell" rating and issued a $366.00 price target (up previously from $283.00) on shares of Medpace in a research note on Wednesday, July 23rd. Cowen lowered shares of Medpace from a "buy" rating to a "sell" rating in a research note on Wednesday, July 23rd. Finally, Barclays lifted their price target 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. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Medpace currently has a consensus rating of "Reduce" and a consensus price target of $406.60.

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.