Pallas Capital Advisors LLC Sells 1,119 Shares of Medpace Holdings, Inc. $MEDP

Key Points

• Pallas Capital Advisors LLC reduced its stake in Medpace Holdings, Inc. by 38.3%, owning 1,800 shares valued at approximately $565,000 after selling 1,119 shares.
• Analysts have recently adjusted their ratings and price targets for Medpace, with UBS Group downgrading to a "sell" and increasing the price objective to $305.00, while Barclays lifted their target from $300.00 to $450.00.
• Notable insider sales included General Counsel Stephen P. Ewald selling 3,000 shares for $1.35 million, reflecting a 22.48% decrease in his ownership.

Pallas Capital Advisors LLC lowered its position in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 38.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,800 shares of the company's stock after selling 1,119 shares during the period. Pallas Capital Advisors LLC's holdings in Medpace were worth $565,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Invesco Ltd. raised its stake in shares of Medpace by 9.4% in the first quarter. Invesco Ltd. now owns 1,186,768 shares of the company's stock valued at $361,596,000 after acquiring an additional 102,015 shares during the last quarter. Mawer Investment Management Ltd. acquired a new stake in shares of Medpace in the first quarter valued at approximately $212,131,000. Bessemer Group Inc. increased its holdings in shares of 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 purchasing an additional 6,225 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Medpace by 12.4% in the first quarter. AQR Capital Management LLC now owns 539,547 shares of the company's stock valued at $158,470,000 after purchasing an additional 59,361 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Medpace by 36.0% in the first quarter. Northern Trust Corp now owns 337,489 shares of the company's stock valued at $102,830,000 after purchasing an additional 89,347 shares in the last quarter. Institutional investors own 77.98% of the company's stock.

Insider Activity

In other news, General Counsel Stephen P. Ewald sold 3,000 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the general counsel owned 10,343 shares of the company's stock, valued at approximately $4,654,350. This represents a 22.48% 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 company's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $454.23, for a total transaction of $5,450,760.00. Following the sale, the chief financial officer directly owned 6,000 shares of the company's stock, 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. Over the last 90 days, insiders have sold 161,266 shares of company stock worth $74,111,427. Insiders own 20.30% of the company's stock.

Medpace Price Performance

NASDAQ:MEDP traded down $0.60 on Tuesday, hitting $497.50. 46,701 shares of the company's stock were exchanged, compared to its average volume of 437,416. The firm has a 50-day moving average price of $450.44 and a 200-day moving average price of $356.61. Medpace Holdings, Inc. has a 52 week low of $250.05 and a 52 week high of $506.55. The company has a market cap of $13.97 billion, a P/E ratio of 36.99, a price-to-earnings-growth ratio of 3.14 and a beta of 1.44.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The company reported $3.10 EPS for the quarter, topping the consensus estimate of $3.00 by $0.10. The firm had revenue of $603.31 million for the quarter, compared to analysts' expectations of $537.70 million. Medpace had a net margin of 18.74% and a return on equity of 67.66%. The company's revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.75 EPS. Medpace has set its FY 2025 guidance at 13.760-14.53 EPS. On average, research analysts expect that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MEDP has been the subject of a number of research reports. Truist Financial raised their price target on shares of Medpace from $298.00 to $436.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. UBS Group lowered 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 report on Tuesday, July 29th. TD Cowen reaffirmed a "sell" rating and set a $366.00 target price (up previously from $283.00) on shares of Medpace in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Medpace from $270.00 to $430.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. Finally, Mizuho lifted their target price on shares of Medpace from $328.00 to $510.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Two investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and a consensus 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.