Federated Hermes Inc. Has $6.72 Million Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Key Points

• Federated Hermes Inc. increased its stake in Medpace Holdings by 7.5%, owning approximately 22,057 shares worth $6.72 million as of the latest reporting period.
• Analysts have varying views on Medpace, with Barclays raising its target price from $300 to $450, while Cowen downgraded its rating from "buy" to "sell".
• Insider transactions revealed significant sales, with CEO August J. Troendle selling 48,487 shares for $21.9 million, indicating a 4.8% decrease in his position.

Federated Hermes Inc. raised its stake in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,057 shares of the company's stock after buying an additional 1,543 shares during the period. Federated Hermes Inc. owned about 0.08% of Medpace worth $6,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Mawer Investment Management Ltd. acquired a new position in Medpace during the 1st quarter valued at approximately $212,131,000. Invesco Ltd. increased its stake in Medpace by 91.8% during the 4th quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock valued at $360,387,000 after purchasing an additional 519,186 shares in the last quarter. Fundsmith LLP acquired a new position in Medpace during the 4th quarter valued at approximately $42,372,000. Spyglass Capital Management LLC increased its stake in Medpace by 85.1% during the 4th quarter. Spyglass Capital Management LLC now owns 262,660 shares of the company's stock valued at $87,264,000 after purchasing an additional 120,778 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Medpace by 31.3% during the 4th quarter. AQR Capital Management LLC now owns 480,186 shares of the company's stock valued at $159,532,000 after purchasing an additional 114,436 shares in the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MEDP has been the topic of a number of recent analyst reports. William Blair restated a "market perform" rating on shares of Medpace in a research note on Wednesday, July 23rd. 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. TD Cowen reaffirmed a "sell" rating and set a $366.00 target price (up from $283.00) on shares of Medpace in a research note on Wednesday, July 23rd. Barclays lifted their target price on shares of Medpace from $300.00 to $450.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 23rd. Finally, UBS Group downgraded shares of Medpace from a "neutral" rating to a "sell" rating and lifted their target price for the stock from $300.00 to $305.00 in a research note on Tuesday, July 29th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $406.60.

Insider Activity

In other Medpace news, President Jesse J. Geiger sold 41,801 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $453.11, for a total transaction of $18,940,451.11. Following the transaction, the president owned 36,503 shares in the company, valued at $16,539,874.33. This trade represents a 53.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kevin M. Brady sold 12,000 shares of the 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 transaction, the chief financial officer owned 6,000 shares in the company, valued at approximately $2,725,380. This trade represents a 66.67% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 112,788 shares of company stock worth $51,018,354. 20.30% of the stock is owned by company insiders.

Medpace Trading Down 2.0%

Shares of Medpace stock traded down $8.67 during mid-day trading on Wednesday, hitting $427.63. 195,371 shares of the stock were exchanged, compared to its average volume of 460,910. Medpace Holdings, Inc. has a twelve month low of $250.05 and a twelve month high of $501.30. The stock has a market capitalization of $12.01 billion, a price-to-earnings ratio of 31.82, a price-to-earnings-growth ratio of 2.72 and a beta of 1.42. The company has a 50-day simple moving average of $339.02 and a 200 day simple moving average of $325.40.

Medpace (NASDAQ:MEDP - Get Free Report) last posted 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. The firm 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%. Medpace's revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.75 earnings per share. 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.