Trust Point Inc. Sells 1,127 Shares of Medpace Holdings, Inc. $MEDP

Key Points

• Trust Point Inc. reduced its stake in Medpace Holdings, Inc. by 36.7%, owning 1,941 shares worth $609,000 as of its latest SEC filing.
• Insider sales included General Counsel Stephen P. Ewald and CFO Kevin M. Brady, who sold 3,000 and 12,000 shares, respectively, representing decreases of 22.48% and 66.67% in their positions.
• Analysts have increased Medpace's price targets with Barclays and Jefferies both setting a new target at $450.00, while the consensus rating remains at "Reduce" with an average target price of $422.27.

Trust Point Inc. cut its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 36.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,941 shares of the company's stock after selling 1,127 shares during the period. Trust Point Inc.'s holdings in Medpace were worth $609,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Mawer Investment Management Ltd. acquired a new position in shares of Medpace during the first quarter valued at $212,131,000. Vulcan Value Partners LLC boosted 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 acquiring an additional 224,578 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of Medpace by 675.8% during the 1st 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. raised its position in shares of Medpace by 9.4% in the 1st quarter. Invesco Ltd. now owns 1,186,768 shares of the company's stock worth $361,596,000 after acquiring an additional 102,015 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Medpace by 41,658.9% during the first quarter. GAMMA Investing LLC now owns 93,540 shares of the company's stock worth $28,501,000 after purchasing an additional 93,316 shares during the last quarter. Institutional investors and hedge funds own 77.98% of the company's stock.

Medpace Stock Performance

NASDAQ:MEDP traded up $1.25 during mid-day trading on Tuesday, reaching $499.34. The stock had a trading volume of 19,984 shares, compared to its average volume of 437,301. Medpace Holdings, Inc. has a twelve month low of $250.05 and a twelve month high of $506.55. The business has a 50 day simple moving average of $450.44 and a 200 day simple moving average of $356.61. The firm has a market capitalization of $14.03 billion, a price-to-earnings ratio of 37.10, a PEG ratio of 3.14 and a beta of 1.44.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its quarterly 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 company had revenue of $603.31 million during the quarter, compared to analyst estimates of $537.70 million. Medpace had a return on equity of 67.66% and a net margin of 18.74%.The firm's quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.75 EPS. Medpace has set its FY 2025 guidance at 13.760-14.53 EPS. As a group, sell-side analysts expect that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Insiders Place Their Bets

In related 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 value of $1,350,000.00. Following the transaction, the general counsel directly owned 10,343 shares in the company, valued at approximately $4,654,350. This represents a 22.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin M. Brady sold 12,000 shares of the business's 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 transaction, the chief financial officer owned 6,000 shares of the company's stock, valued at approximately $2,725,380. This trade represents a 66.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 161,266 shares of company stock worth $74,111,427 in the last ninety days. 20.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MEDP. Jefferies Financial Group raised their target price on shares of Medpace from $400.00 to $450.00 and gave the stock a "hold" rating in a report on Tuesday, September 9th. Cowen cut Medpace from a "buy" rating to a "sell" rating in a research note on Wednesday, July 23rd. UBS Group cut shares of Medpace from a "neutral" rating to a "sell" rating and increased their target price for the stock from $300.00 to $305.00 in a research report on Tuesday, July 29th. Rothschild & Co Redburn lowered 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 research report on Wednesday, September 3rd. Finally, 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 research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Reduce" and a consensus 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.