Millennium Management LLC Sells 21,004 Shares of Medpace Holdings, Inc. $MEDP

Key Points

• Millennium Management LLC reduced its stake in Medpace Holdings, Inc. by 18.5% during the first quarter, now owning 92,761 shares valued at approximately $28.26 million.
• Medpace stock opened at $497.59 recently, with a 12-month range of $250.05 to $501.30, and reported a quarterly revenue of $603.31 million against an estimate of $537.70 million.
• Analysts have varying ratings for Medpace, with two giving it a Buy rating, eleven a Hold rating, and three a Sell rating, while the average price target is set at $422.27.

Millennium Management LLC lessened its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 18.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 92,761 shares of the company's stock after selling 21,004 shares during the quarter. Millennium Management LLC owned approximately 0.32% of Medpace worth $28,263,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Whittier Trust Co. grew its position in shares of Medpace by 47.3% during the 1st quarter. Whittier Trust Co. now owns 109 shares of the company's stock worth $33,000 after buying an additional 35 shares during the period. Benjamin Edwards Inc. grew its position in shares of Medpace by 3.1% during the 1st quarter. Benjamin Edwards Inc. now owns 1,201 shares of the company's stock worth $366,000 after buying an additional 36 shares during the period. Assetmark Inc. grew its position in shares of Medpace by 24.9% during the 1st quarter. Assetmark Inc. now owns 216 shares of the company's stock worth $66,000 after buying an additional 43 shares during the period. Proficio Capital Partners LLC grew its position in shares of Medpace by 6.4% during the 1st quarter. Proficio Capital Partners LLC now owns 777 shares of the company's stock worth $237,000 after buying an additional 47 shares during the period. Finally, Park Avenue Securities LLC grew its position in shares of Medpace by 1.8% during the 1st quarter. Park Avenue Securities LLC now owns 2,749 shares of the company's stock worth $838,000 after buying an additional 48 shares during the period. Institutional investors and hedge funds own 77.98% of the company's stock.

Medpace Stock Up 0.5%

NASDAQ:MEDP traded up $2.58 during trading hours on Wednesday, hitting $493.35. 42,539 shares of the company traded hands, compared to its average volume of 439,056. The firm's 50-day simple moving average is $436.37 and its 200-day simple moving average is $351.59. Medpace Holdings, Inc. has a one year low of $250.05 and a one year high of $501.30. The company has a market cap of $13.86 billion, a PE ratio of 36.57, a PEG ratio of 3.12 and a beta of 1.44.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $603.31 million for the quarter, compared to analysts' expectations of $537.70 million. Medpace had a return on equity of 67.66% and a net margin of 18.74%.The business's revenue was up 14.2% on a year-over-year basis. During the same period last year, the business earned $2.75 EPS. Medpace has set its FY 2025 guidance at 13.760-14.53 EPS. As a group, equities research analysts expect that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Analyst Upgrades and Downgrades

MEDP has been the subject of several recent analyst reports. William Blair reaffirmed a "market perform" rating on shares of Medpace in a research report on Wednesday, July 23rd. Robert W. Baird lifted their price target on shares of Medpace from $313.00 to $490.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Truist Financial lifted their price target on shares of Medpace from $298.00 to $436.00 and gave the company a "hold" rating in a research report on Wednesday, July 23rd. Jefferies Financial Group lifted their price target on shares of Medpace from $400.00 to $450.00 and gave the company a "hold" rating in a research report on Tuesday, September 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Medpace from $270.00 to $430.00 and gave the company a "hold" rating in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $422.27.

Insider Activity at Medpace

In related news, VP Susan E. Burwig sold 10,000 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $480.00, for a total value of $4,800,000.00. Following the sale, the vice president directly owned 57,500 shares in the company, valued at approximately $27,600,000. The trade was a 14.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevin M. Brady sold 12,000 shares of the business's stock in a transaction dated 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 owned 6,000 shares in the company, valued at $2,725,380. This represents a 66.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 161,266 shares of company stock worth $74,111,427. 20.30% of the stock is owned by company insiders.

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.