Strs Ohio Takes Position in Medpace Holdings, Inc. $MEDP

Key Points

• Strs Ohio has acquired a new stake in Medpace Holdings, purchasing 33,000 shares valued at approximately $10 million, representing about 0.11% of the company.
• Analysts have downgraded Medpace's stock ratings while increasing their price targets, with Barclays setting a new target of $450.00 and Rothschild reducing their rating to "hold".
• CEO August J. Troendle recently sold 48,487 shares for over $21 million, indicating significant insider trading activity as insiders sold a total of $74 million worth of shares in the last ninety days.

Strs Ohio bought a new stake in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 33,000 shares of the company's stock, valued at approximately $10,055,000. Strs Ohio owned 0.11% of Medpace at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in MEDP. Ethic Inc. increased its holdings in shares of Medpace by 57.0% in the 4th quarter. Ethic Inc. now owns 777 shares of the company's stock valued at $258,000 after purchasing an additional 282 shares during the period. Focus Partners Wealth increased its holdings in shares of Medpace by 191.3% in the 4th quarter. Focus Partners Wealth now owns 2,319 shares of the company's stock valued at $775,000 after purchasing an additional 1,523 shares during the period. Millennium Management LLC increased its holdings in shares of Medpace by 13.3% in the 4th quarter. Millennium Management LLC now owns 113,765 shares of the company's stock valued at $37,796,000 after purchasing an additional 13,390 shares during the period. Nomura Holdings Inc. acquired a new position in shares of Medpace in the 4th quarter valued at about $1,124,000. Finally, Quantinno Capital Management LP increased its holdings in shares of Medpace by 43.0% in the 4th quarter. Quantinno Capital Management LP now owns 1,148 shares of the company's stock valued at $381,000 after purchasing an additional 345 shares during the period. Institutional investors and hedge funds own 77.98% of the company's stock.

Insider Activity

In other 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 completion of the sale, the general counsel directly owned 10,343 shares of the company's stock, valued at approximately $4,654,350. This represents a 22.48% 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 this hyperlink. Also, CFO Kevin M. Brady sold 12,000 shares of the stock in a transaction that occurred on 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 directly owned 6,000 shares of the company's stock, 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 have sold 161,266 shares of company stock valued at $74,111,427. Insiders own 20.30% of the company's stock.

Medpace Trading Up 0.8%

Medpace stock traded up $4.11 during trading hours on Thursday, reaching $501.94. 267,786 shares of the company were exchanged, compared to its average volume of 304,399. The firm has a market cap of $14.10 billion, a price-to-earnings ratio of 37.32, a PEG ratio of 3.13 and a beta of 1.44. The stock has a 50-day moving average of $443.38 and a 200 day moving average of $353.86. Medpace Holdings, Inc. has a 12 month low of $250.05 and a 12 month high of $506.55.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its earnings results on Monday, July 21st. The company reported $3.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.00 by $0.10. The firm had revenue of $603.31 million during 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 company's revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.75 earnings per share. Medpace has set its FY 2025 guidance at 13.760-14.53 EPS. As a group, research analysts forecast that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MEDP. Cowen downgraded Medpace from a "buy" rating to a "sell" rating in a report on Wednesday, July 23rd. Robert W. Baird increased their price objective on Medpace from $313.00 to $490.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. UBS Group downgraded Medpace from a "neutral" rating to a "sell" rating and increased their price objective for the stock from $300.00 to $305.00 in a report on Tuesday, July 29th. Jefferies Financial Group increased their price objective on Medpace from $400.00 to $450.00 and gave the stock a "hold" rating in a report on Tuesday, September 9th. Finally, Barclays increased their price objective on Medpace from $300.00 to $450.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Medpace presently has a consensus rating of "Reduce" and an average target price of $422.27.

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.