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Equitable Trust Co. Acquires 580 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Medpace logo with Medical background

Key Points

  • Equitable Trust Co. increased its holdings in Medpace Holdings, Inc. by 25.1%, now owning 2,893 shares worth approximately $881,000.
  • Analysts have varying opinions on Medpace, with Mizuho raising its price target dramatically from $328.00 to $510.00, while Cowen downgraded their rating from "buy" to "sell".
  • Medpace reported a 14.2% year-over-year revenue increase to $603.31 million and exceeding earnings expectations by $0.10.
  • MarketBeat previews top five stocks to own in September.

Equitable Trust Co. grew its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 25.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,893 shares of the company's stock after acquiring an additional 580 shares during the period. Equitable Trust Co.'s holdings in Medpace were worth $881,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Medpace by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 2,570,770 shares of the company's stock worth $854,087,000 after acquiring an additional 25,704 shares in the last quarter. Invesco Ltd. raised its position in shares of Medpace by 91.8% in the fourth quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock worth $360,387,000 after buying an additional 519,186 shares in the last quarter. Wasatch Advisors LP raised its position in shares of Medpace by 3.1% in the fourth quarter. Wasatch Advisors LP now owns 936,842 shares of the company's stock worth $311,247,000 after buying an additional 28,161 shares in the last quarter. Geode Capital Management LLC increased its stake in Medpace by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 656,130 shares of the company's stock valued at $218,031,000 after acquiring an additional 28,076 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in Medpace by 1.1% in the first quarter. Bessemer Group Inc. now owns 582,269 shares of the company's stock valued at $177,411,000 after acquiring an additional 6,225 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. UBS Group cut Medpace from a "neutral" rating to a "sell" rating and raised their target price for the stock from $300.00 to $305.00 in a research note on Tuesday. TD Cowen restated a "sell" rating and issued a $366.00 price objective (up from $283.00) on shares of Medpace in a report on Wednesday, July 23rd. Mizuho lifted their target price on shares of Medpace from $328.00 to $510.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Truist Financial lifted their target price on shares of Medpace from $298.00 to $436.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Finally, Robert W. Baird lifted 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. Three analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Medpace presently has a consensus rating of "Hold" and a consensus price target of $406.60.

Read Our Latest Analysis on Medpace

Medpace Price Performance

NASDAQ MEDP traded down $3.50 during trading hours on Wednesday, hitting $444.43. 132,828 shares of the company's stock traded hands, compared to its average volume of 460,806. The company has a market capitalization of $12.48 billion, a PE ratio of 33.04, a PEG ratio of 2.85 and a beta of 1.47. The firm's 50-day moving average is $325.43 and its 200-day moving average is $322.18. Medpace Holdings, Inc. has a 52-week low of $250.05 and a 52-week high of $501.30.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its earnings results on Monday, July 21st. The company reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.10. The firm had revenue of $603.31 million during the quarter, compared to the consensus estimate of $537.70 million. Medpace had a net margin of 18.74% and a return on equity of 67.66%. The firm's revenue for the quarter was up 14.2% on a year-over-year basis. During the same period last year, the firm posted $2.75 EPS. Equities research analysts predict that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Stephen P. Ewald sold 3,000 shares of the 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 transaction, the general counsel 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO August J. Troendle sold 48,487 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $451.69, for a total value of $21,901,093.03. Following the completion of the sale, the chief executive officer directly owned 962,615 shares of the company's stock, valued at $434,803,569.35. This represents a 4.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,788 shares of company stock worth $51,018,354 in the last ninety days. Insiders own 20.30% of the company's stock.

About Medpace

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Medpace (NASDAQ:MEDP)

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