Truist Financial Corp Has $4.05 Million Stock Position in Medpace Holdings, Inc. $MEDP

Key Points

• Truist Financial Corp increased its stake in Medpace Holdings, owning 12,898 shares valued at approximately $4.05 million following a 10.2% growth in Q2.
• Several institutional investors significantly boosted their holdings in Medpace, contributing to a total of 77.98% institutional ownership of the company's stock.
• Medpace's latest earnings report showed a quarterly revenue of $603.31 million, outperforming analysts' estimates and marking a 14.2% increase from the previous year.

Truist Financial Corp boosted its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 10.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,898 shares of the company's stock after acquiring an additional 1,197 shares during the period. Truist Financial Corp's holdings in Medpace were worth $4,048,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MEDP. Mawer Investment Management Ltd. acquired a new position in shares of Medpace during the 1st quarter worth about $212,131,000. Vulcan Value Partners LLC lifted its holdings in shares of Medpace by 221.6% during the first quarter. Vulcan Value Partners LLC now owns 325,916 shares of the company's stock worth $99,159,000 after buying an additional 224,578 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Medpace by 675.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 121,464 shares of the company's stock worth $37,009,000 after buying an additional 105,807 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Medpace by 9.4% during the first quarter. Invesco Ltd. now owns 1,186,768 shares of the company's stock worth $361,596,000 after buying an additional 102,015 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Medpace by 36.0% during the first quarter. Northern Trust Corp now owns 337,489 shares of the company's stock worth $102,830,000 after buying an additional 89,347 shares during the last quarter. Institutional investors and hedge funds own 77.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Medpace in a report on Wednesday. UBS Group lowered Medpace from a "neutral" rating to a "sell" rating and upped their target price for the company from $300.00 to $305.00 in a research note on Tuesday, July 29th. Robert W. Baird upped their target price on Medpace from $313.00 to $490.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. William Blair restated a "market perform" rating on shares of Medpace in a research note on Wednesday, July 23rd. Finally, Cowen cut shares of Medpace from a "buy" rating to a "sell" rating in a research note on Wednesday, July 23rd. Three research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $422.27.

Insider Transactions at Medpace

In related news, CEO August J. Troendle sold 36,196 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $475.90, for a total value of $17,225,676.40. Following the completion of the sale, the chief executive officer owned 925,799 shares of the company's stock, valued at $440,587,744.10. This trade represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Susan E. Burwig sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $480.00, for a total transaction of $4,800,000.00. Following the completion of the sale, the vice president directly owned 57,500 shares of the company's stock, valued at approximately $27,600,000. This represents a 14.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 161,266 shares of company stock worth $74,111,427. Corporate insiders own 20.30% of the company's stock.

Medpace Price Performance

MEDP stock opened at $531.00 on Thursday. Medpace Holdings, Inc. has a fifty-two week low of $250.05 and a fifty-two week high of $547.15. The stock has a market capitalization of $14.92 billion, a price-to-earnings ratio of 39.48, a P/E/G ratio of 3.35 and a beta of 1.40. The business has a fifty day moving average price of $479.93 and a 200 day moving average price of $372.01.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its earnings results on Monday, July 21st. The company reported $3.10 earnings per share for the quarter, beating 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 company had revenue of $603.31 million during the quarter, compared to analyst estimates of $537.70 million. During the same period last year, the company posted $2.75 earnings per share. The firm's quarterly revenue was up 14.2% compared to the same quarter last year. Medpace has set its FY 2025 guidance at 13.760-14.53 EPS. On average, equities analysts expect that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Medpace Company 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.

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