McGuire Investment Group LLC Reduces Stock Holdings in Medpace Holdings, Inc. $MEDP

Key Points

• McGuire Investment Group LLC reduced its stake in Medpace Holdings, Inc. by 5.9%, now holding 42,020 shares, which represents 1.7% of its total investments.
• Insider selling has been notable, with CFO Kevin M. Brady and VP Susan E. Burwig significantly decreasing their stakes in the company, contributing to a total insider sale of 161,266 shares valued at over $74 million.
• Medpace's stock performance indicates strong growth potential, with a 1-year high of $547.15 and positive earnings outpacing estimates, leading to various analysts adjusting target prices and ratings for the stock.

McGuire Investment Group LLC reduced its stake in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 5.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,020 shares of the company's stock after selling 2,643 shares during the period. Medpace accounts for about 1.7% of McGuire Investment Group LLC's holdings, making the stock its 17th biggest position. McGuire Investment Group LLC owned 0.15% of Medpace worth $13,188,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. purchased a new position in Medpace in the second quarter valued at approximately $5,025,000. BloombergSen Inc. purchased a new position in shares of Medpace during the second quarter worth approximately $581,000. Truist Financial Corp grew its position in shares of Medpace by 10.2% during the second quarter. Truist Financial Corp now owns 12,898 shares of the company's stock worth $4,048,000 after acquiring an additional 1,197 shares during the last quarter. Campbell Newman Asset Management Inc. grew its position in shares of Medpace by 7.1% during the second quarter. Campbell Newman Asset Management Inc. now owns 9,348 shares of the company's stock worth $2,934,000 after acquiring an additional 622 shares during the last quarter. Finally, Asio Capital LLC grew its position in shares of Medpace by 16.9% during the second quarter. Asio Capital LLC now owns 8,494 shares of the company's stock worth $2,666,000 after acquiring an additional 1,230 shares during the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Medpace news, CFO Kevin M. Brady sold 12,000 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was 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 owned 6,000 shares of the company's stock, valued at approximately $2,725,380. This trade represents a 66.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Susan E. Burwig sold 10,000 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $480.00, for a total value of $4,800,000.00. Following the completion of the sale, the vice president directly owned 57,500 shares of the company's stock, valued at approximately $27,600,000. This trade represents a 14.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 161,266 shares of company stock valued at $74,111,427 in the last quarter. Corporate insiders own 20.30% of the company's stock.

Medpace Price Performance

Shares of NASDAQ MEDP opened at $543.90 on Thursday. The stock has a fifty day moving average price of $471.53 and a 200 day moving average price of $364.83. Medpace Holdings, Inc. has a 1-year low of $250.05 and a 1-year high of $547.15. The company has a market cap of $15.28 billion, a PE ratio of 40.44, a P/E/G ratio of 3.24 and a beta of 1.40.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its quarterly 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 return on equity of 67.66% and a net margin of 18.74%.The firm had revenue of $603.31 million during the quarter, compared to the consensus estimate of $537.70 million. During the same period last year, the company earned $2.75 earnings per share. The company's revenue for the quarter was up 14.2% on a year-over-year basis. Medpace has set its FY 2025 guidance at 13.760-14.53 EPS. Analysts anticipate that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Barclays raised their target price on shares of Medpace from $300.00 to $450.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 23rd. Zacks Research lowered shares of Medpace from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 22nd. William Blair restated a "market perform" rating on shares of Medpace in a research report on Wednesday, July 23rd. Rothschild & Co Redburn lowered shares of Medpace from a "buy" rating to a "neutral" rating and raised their target price for the stock from $342.00 to $474.00 in a research report on Wednesday, September 3rd. Finally, TD Cowen restated a "sell" rating and set a $366.00 target price (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, twelve have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $422.27.

About Medpace

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.

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.