Cresset Asset Management LLC Purchases Shares of 744 Medpace Holdings, Inc. $MEDP

Key Points

• Cresset Asset Management LLC has acquired 744 shares of Medpace Holdings, Inc., valued at approximately $227,000, as reported in their recent SEC filing.
• Medpace reported a quarterly earnings per share (EPS) of $3.10, beating analysts' expectations of $3.00, and generating revenues of $603.31 million, exceeding forecasts by $65.61 million.
• Several institutional investors have significantly increased their stakes in Medpace, with 77.98% of the stock currently owned by institutional investors.

Cresset Asset Management LLC acquired a new position in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 744 shares of the company's stock, valued at approximately $227,000.

A number of other institutional investors and hedge funds have also modified their holdings of MEDP. Ethic Inc. raised its stake in shares of Medpace by 199.1% in the first quarter. Ethic Inc. now owns 2,324 shares of the company's stock valued at $692,000 after purchasing an additional 1,547 shares in the last quarter. Liontrust Investment Partners LLP bought a new stake in Medpace in the 1st quarter valued at $557,000. LGT Group Foundation bought a new position in Medpace during the first quarter worth about $682,000. Russell Investments Group Ltd. boosted its holdings in Medpace by 118.7% during the first quarter. Russell Investments Group Ltd. now owns 68,973 shares of the company's stock valued at $21,016,000 after purchasing an additional 37,442 shares in the last quarter. Finally, HighTower Advisors LLC grew its stake in shares of Medpace by 1.5% in the 1st quarter. HighTower Advisors LLC now owns 3,188 shares of the company's stock valued at $971,000 after purchasing an additional 48 shares during the period. 77.98% of the stock is currently owned by institutional investors.

Medpace Trading Up 0.5%

Shares of NASDAQ MEDP opened at $469.29 on Wednesday. Medpace Holdings, Inc. has a 1-year low of $250.05 and a 1-year high of $501.30. The company has a 50-day moving average of $385.60 and a two-hundred day moving average of $336.58. The company has a market cap of $13.18 billion, a PE ratio of 34.89, a P/E/G ratio of 2.94 and a beta of 1.42.

Medpace (NASDAQ:MEDP - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The company reported $3.10 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $537.70 million. During the same period in the prior year, the firm earned $2.75 earnings per share. Medpace's revenue was up 14.2% compared to the same quarter last year. Medpace has set its FY 2025 guidance at 13.760-14.53 EPS. As a group, equities research analysts forecast that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO August J. Troendle sold 48,487 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 962,615 shares in the company, valued at $434,803,569.35. This trade represents a 4.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Susan E. Burwig sold 7,500 shares of Medpace stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $450.14, for a total value of $3,376,050.00. Following the completion of the sale, the vice president owned 57,500 shares of the company's stock, valued at approximately $25,883,050. The trade was a 11.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 114,450 shares of company stock worth $51,791,251. 20.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on Medpace from $270.00 to $430.00 and gave the stock a "hold" rating in a research report on Wednesday, July 23rd. UBS Group cut Medpace from a "neutral" rating to a "sell" rating and lifted their price objective for the company from $300.00 to $305.00 in a report on Tuesday, July 29th. Barclays boosted their target price 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. Cowen cut shares of Medpace from a "buy" rating to a "sell" rating in a research report on Wednesday, July 23rd. Finally, TD Cowen restated a "sell" rating and issued a $366.00 price target (up from $283.00) on shares of Medpace in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently 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.

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