PDT Partners LLC Trims Holdings in Medpace Holdings, Inc. $MEDP

Key Points

• PDT Partners LLC reduced its stake in Medpace Holdings, Inc. by 81.4% in Q1, owning now 1,043 shares valued at $318,000.
• In the same quarter, several institutional investors, including Invesco Ltd. and Northern Trust Corp, increased their holdings, with 77.98% of the stock currently owned by these entities.
• Analysts have mixed ratings for Medpace, with price targets ranging from $412.73 to $510.00, while the stock recently traded at approximately $486.98.

PDT Partners LLC lowered its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 81.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,043 shares of the company's stock after selling 4,575 shares during the period. PDT Partners LLC's holdings in Medpace were worth $318,000 as of its most recent SEC filing.

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

Medpace Price Performance

Shares of NASDAQ MEDP traded down $6.50 during midday trading on Tuesday, reaching $485.59. 450,200 shares of the stock traded hands, compared to its average volume of 445,165. The stock has a market capitalization of $13.64 billion, a PE ratio of 36.10, a P/E/G ratio of 3.06 and a beta of 1.44. Medpace Holdings, Inc. has a one year low of $250.05 and a one year high of $501.30. The company's 50 day moving average is $419.54 and its 200 day moving average is $346.21.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its earnings results on Monday, July 21st. The company reported $3.10 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $537.70 million. During the same quarter in the previous year, the business earned $2.75 EPS. The company's quarterly revenue was up 14.2% on a year-over-year basis. Medpace has set its FY 2025 guidance at 13.760-14.53 EPS. As a group, equities analysts forecast that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Insider Buying and Selling at Medpace

In other news, President Jesse J. Geiger sold 41,801 shares of the firm's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $453.11, for a total value of $18,940,451.11. Following the completion of the sale, the president owned 36,503 shares in the company, valued at approximately $16,539,874.33. This trade represents a 53.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO August J. Troendle sold 48,487 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $451.69, for a total transaction of $21,901,093.03. Following the transaction, the chief executive officer owned 962,615 shares in the company, valued at $434,803,569.35. The trade was a 4.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 161,266 shares of company stock valued at $74,111,427. Insiders own 20.30% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on MEDP shares. Jefferies Financial Group raised their target price on shares of Medpace from $400.00 to $450.00 and gave the company a "hold" rating in a research note on Tuesday. Rothschild & Co Redburn downgraded shares of Medpace from a "buy" rating to a "neutral" rating and increased their price objective for the company from $342.00 to $474.00 in a report on Wednesday, September 3rd. Mizuho lifted their target price on Medpace from $328.00 to $510.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Rothschild Redb lowered Medpace from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Finally, UBS Group cut Medpace from a "neutral" rating to a "sell" rating and raised their price target for the company from $300.00 to $305.00 in a report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus 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.