Equitable Trust Co. Trims Stock Holdings in Medpace Holdings, Inc. $MEDP

Key Points

• Equitable Trust Co. significantly reduced its stake in Medpace Holdings by 70.3%, now holding only 860 shares valued at $270,000 after selling 2,033 shares in the second quarter.
• Multiple institutional investors have increased their positions in Medpace, with GAMMA Investing LLC raising its stake by 37.1% and Blue Trust Inc. boosting its position by 60.5%.
• Analysts have varying views on Medpace, with price targets ranging from $300.00 to $510.00, resulting in a consensus rating of "Reduce" and a target price of $424.10.

Equitable Trust Co. decreased its stake in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 70.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 860 shares of the company's stock after selling 2,033 shares during the quarter. Equitable Trust Co.'s holdings in Medpace were worth $270,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MEDP. GAMMA Investing LLC increased its position in Medpace by 37.1% in the first quarter. GAMMA Investing LLC now owns 307 shares of the company's stock worth $94,000 after buying an additional 83 shares in the last quarter. QRG Capital Management Inc. increased its position in Medpace by 10.9% in the first quarter. QRG Capital Management Inc. now owns 13,050 shares of the company's stock worth $3,976,000 after buying an additional 1,283 shares in the last quarter. Blue Trust Inc. increased its position in Medpace by 60.5% in the first quarter. Blue Trust Inc. now owns 467 shares of the company's stock worth $142,000 after buying an additional 176 shares in the last quarter. Cabot Wealth Management Inc. increased its position in Medpace by 8.9% in the first quarter. Cabot Wealth Management Inc. now owns 17,969 shares of the company's stock worth $5,475,000 after buying an additional 1,473 shares in the last quarter. Finally, Ausbil Investment Management Ltd purchased a new stake in Medpace in the first quarter worth about $601,000. Hedge funds and other institutional investors own 77.98% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MEDP. Mizuho upped their price objective on Medpace from $328.00 to $510.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Jefferies Financial Group upped their price objective on Medpace from $400.00 to $450.00 and gave the stock a "hold" rating in a research note on Tuesday, September 9th. Rothschild & Co Redburn lowered Medpace from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $342.00 to $474.00 in a research note on Wednesday, September 3rd. Barclays upped their price objective on Medpace from $300.00 to $450.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Medpace from $270.00 to $430.00 and gave the stock a "hold" rating in a research note on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Medpace presently has a consensus rating of "Reduce" and a consensus target price of $424.10.

Insider Activity at Medpace

In other news, General Counsel Stephen P. Ewald sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $450.00, for a total value of $1,350,000.00. Following the completion of the sale, the general counsel directly owned 10,343 shares of the company's stock, valued at $4,654,350. This trade represents a 22.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin M. Brady sold 12,000 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the chief financial officer directly owned 6,000 shares of the company's stock, valued at $2,725,380. The trade was a 66.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 161,266 shares of company stock valued at $74,111,427 in the last 90 days. 20.30% of the stock is currently owned by insiders.

Medpace Trading Down 0.5%

Shares of Medpace stock opened at $514.32 on Thursday. The stock has a 50 day moving average of $488.51 and a 200 day moving average of $378.75. Medpace Holdings, Inc. has a 12 month low of $250.05 and a 12 month high of $547.15. The firm has a market cap of $14.45 billion, a PE ratio of 38.24, a PEG ratio of 3.24 and a beta of 1.40.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The company reported $3.10 EPS for the quarter, beating analysts' consensus estimates of $3.00 by $0.10. Medpace had a return on equity of 67.66% and a net margin of 18.74%.The company had revenue of $603.31 million during the quarter, compared to analyst estimates of $537.70 million. During the same period in the prior year, the company earned $2.75 earnings per share. The firm'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. As a group, equities research analysts forecast that Medpace Holdings, Inc. will post 12.29 earnings per share 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.

Want to see what other hedge funds are holding MEDP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.