Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Acquired by Federated Hermes Inc.

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. increased its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 7.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,057 shares of the company's stock after purchasing an additional 1,543 shares during the period. Federated Hermes Inc. owned 0.08% of Medpace worth $6,721,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MEDP. Sone Capital Management LLC purchased a new stake in Medpace in the fourth quarter valued at $1,318,000. GAMMA Investing LLC lifted its position in Medpace by 37.1% in the first quarter. GAMMA Investing LLC now owns 307 shares of the company's stock valued at $94,000 after acquiring an additional 83 shares during the last quarter. Fundsmith LLP purchased a new stake in Medpace in the fourth quarter valued at $42,372,000. Park Avenue Securities LLC raised its holdings in shares of Medpace by 1.8% in the first quarter. Park Avenue Securities LLC now owns 2,749 shares of the company's stock valued at $838,000 after buying an additional 48 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Medpace by 70.7% in the first quarter. UMB Bank n.a. now owns 490 shares of the company's stock valued at $149,000 after buying an additional 203 shares during the last quarter. Institutional investors and hedge funds own 77.98% of the company's stock.

Medpace Stock Up 2.2%

NASDAQ MEDP traded up $9.34 during trading hours on Monday, hitting $432.43. 293,952 shares of the stock were exchanged, compared to its average volume of 765,360. The company has a market cap of $12.15 billion, a price-to-earnings ratio of 31.46, a price-to-earnings-growth ratio of 2.66 and a beta of 1.42. Medpace Holdings, Inc. has a 12-month low of $250.05 and a 12-month high of $501.30. The stock has a 50-day moving average of $333.51 and a 200 day moving average of $323.96.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its earnings results on Monday, July 21st. The company reported $3.10 earnings per share for the quarter, topping 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 company had revenue of $603.31 million for the quarter, compared to analyst estimates of $537.70 million. During the same period in the prior year, the business posted $2.75 earnings per share. The firm's revenue for the quarter was up 14.2% compared to the same quarter last year. On average, equities research analysts expect that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Insider Activity at Medpace

In other Medpace news, General Counsel Stephen P. Ewald sold 3,000 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the transaction, the general counsel directly owned 10,343 shares in the company, valued at approximately $4,654,350. This represents a 22.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Susan E. Burwig sold 7,500 shares of the company's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $450.14, for a total transaction of $3,376,050.00. Following the transaction, the vice president owned 57,500 shares in the company, valued at $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. Insiders sold a total of 112,788 shares of company stock valued at $51,018,354 in the last ninety days. Company insiders own 20.30% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MEDP. UBS Group cut shares of Medpace from a "neutral" rating to a "sell" rating and upped their target price for the company from $300.00 to $305.00 in a report on Tuesday, July 29th. TD Cowen reaffirmed a "sell" rating and issued a $366.00 target price (up from $283.00) on shares of Medpace in a report on Wednesday, July 23rd. Robert W. Baird upped their target price on shares of Medpace from $313.00 to $490.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Cowen cut shares of Medpace from a "buy" rating to a "sell" rating in a report on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Medpace from $270.00 to $430.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $406.60.

Medpace Company 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.