Vanguard Group Inc. Has $771.96 Million Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Key Points

• Vanguard Group Inc. holds approximately $771.96 million in Medpace Holdings, Inc. after reducing its stake by 1.4%, owning 2,533,606 shares.
• Insiders at Medpace have significantly decreased their ownership, with Vice President Susan E. Burwig selling 7,500 shares and CFO Kevin M. Brady selling 12,000 shares, contributing to a total insider sell of 112,788 shares worth over $51 million in the last ninety days.
• Medpace reported earnings of $3.10 per share for the latest quarter, exceeding expectations and marking a 14.2% increase in revenue compared to the previous year.

Vanguard Group Inc. reduced its position in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,533,606 shares of the company's stock after selling 37,164 shares during the quarter. Vanguard Group Inc. owned about 8.81% of Medpace worth $771,964,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Whittier Trust Co. increased its stake in shares of Medpace by 47.3% in the 1st quarter. Whittier Trust Co. now owns 109 shares of the company's stock valued at $33,000 after acquiring an additional 35 shares in the last quarter. Colonial Trust Co SC boosted its holdings in shares of Medpace by 150.0% in the 4th quarter. Colonial Trust Co SC now owns 175 shares of the company's stock worth $58,000 after buying an additional 105 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Medpace during the first quarter valued at about $60,000. Assetmark Inc. increased 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 period. Finally, True Wealth Design LLC increased its position in shares of Medpace by 52.7% in the fourth quarter. True Wealth Design LLC now owns 258 shares of the company's stock worth $86,000 after purchasing an additional 89 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MEDP. Deutsche Bank Aktiengesellschaft raised their price target on Medpace from $270.00 to $430.00 and gave the stock a "hold" rating in a research note on Wednesday, July 23rd. UBS Group lowered Medpace from a "neutral" rating to a "sell" rating and lifted their price target for the stock from $300.00 to $305.00 in a research report on Tuesday, July 29th. Robert W. Baird lifted 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. Mizuho boosted their price target on Medpace from $328.00 to $510.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Finally, Truist Financial boosted their price objective on Medpace from $298.00 to $436.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $406.60.

Insiders Place Their Bets

In related news, VP Susan E. Burwig sold 7,500 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $450.14, for a total value of $3,376,050.00. Following the completion of the transaction, the vice president owned 57,500 shares of the company's stock, valued at approximately $25,883,050. This trade represents a 11.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO August J. Troendle sold 48,487 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $451.69, for a total transaction of $21,901,093.03. Following the completion of the sale, the chief executive officer owned 962,615 shares of the company's stock, valued at approximately $434,803,569.35. The trade was a 4.80% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 112,788 shares of company stock worth $51,018,354. 20.30% of the stock is owned by company insiders.

Medpace Stock Down 0.2%

Shares of NASDAQ:MEDP traded down $0.81 during midday trading on Friday, reaching $457.85. The company's stock had a trading volume of 227,324 shares, compared to its average volume of 457,588. The business has a 50 day moving average price of $359.65 and a 200 day moving average price of $330.45. Medpace Holdings, Inc. has a 1 year low of $250.05 and a 1 year high of $501.30. The firm has a market cap of $12.86 billion, a price-to-earnings ratio of 34.04, a price-to-earnings-growth ratio of 2.94 and a beta of 1.42.

Medpace (NASDAQ:MEDP - Get Free Report) last released 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. Medpace had a return on equity of 67.66% and a net margin of 18.74%. The business had revenue of $603.31 million for the quarter, compared to analysts' expectations of $537.70 million. During the same quarter in the previous year, the firm posted $2.75 earnings per share. The company's revenue was up 14.2% compared to the same quarter last year. Sell-side analysts anticipate 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.