QRG Capital Management Inc. Sells 10,489 Shares of Medpace Holdings, Inc. $MEDP

QRG Capital Management Inc. lowered its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 78.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,886 shares of the company’s stock after selling 10,489 shares during the period. QRG Capital Management Inc.’s holdings in Medpace were worth $1,484,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fifth Third Wealth Advisors LLC boosted its position in shares of Medpace by 2.6% during the third quarter. Fifth Third Wealth Advisors LLC now owns 737 shares of the company’s stock valued at $379,000 after buying an additional 19 shares during the last quarter. Portside Wealth Group LLC lifted its stake in Medpace by 2.5% during the 2nd quarter. Portside Wealth Group LLC now owns 1,090 shares of the company’s stock valued at $342,000 after acquiring an additional 27 shares in the last quarter. M&T Bank Corp boosted its holdings in Medpace by 3.4% during the 2nd quarter. M&T Bank Corp now owns 939 shares of the company’s stock worth $295,000 after acquiring an additional 31 shares during the last quarter. PDS Planning Inc grew its stake in shares of Medpace by 1.5% in the 2nd quarter. PDS Planning Inc now owns 2,421 shares of the company’s stock worth $760,000 after acquiring an additional 35 shares in the last quarter. Finally, Front Row Advisors LLC raised its holdings in shares of Medpace by 0.4% in the second quarter. Front Row Advisors LLC now owns 9,441 shares of the company’s stock valued at $2,963,000 after purchasing an additional 35 shares during the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MEDP. Mizuho set a $660.00 price objective on shares of Medpace in a research report on Friday, January 9th. BMO Capital Markets started coverage on Medpace in a report on Thursday, November 13th. They issued a “market perform” rating and a $600.00 target price for the company. Barclays increased their price target on Medpace from $485.00 to $525.00 and gave the company an “underweight” rating in a research report on Monday, December 15th. Cowen reissued a “sell” rating on shares of Medpace in a research report on Friday, October 24th. Finally, Robert W. Baird set a $613.00 target price on Medpace in a research report on Friday, October 24th. Two research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Medpace currently has an average rating of “Reduce” and a consensus price target of $491.27.

Medpace Trading Down 1.4%

Shares of NASDAQ MEDP opened at $602.40 on Wednesday. The stock has a fifty day simple moving average of $582.94 and a two-hundred day simple moving average of $516.67. Medpace Holdings, Inc. has a 1-year low of $250.05 and a 1-year high of $628.92. The firm has a market cap of $16.97 billion, a price-to-earnings ratio of 42.13, a price-to-earnings-growth ratio of 2.05 and a beta of 1.43.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.36. The firm had revenue of $659.90 million for the quarter, compared to analysts’ expectations of $640.49 million. Medpace had a return on equity of 91.88% and a net margin of 18.36%.The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.01 EPS. Analysts forecast that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Insider Activity at Medpace

In related news, CFO Kevin M. Brady sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $590.35, for a total transaction of $1,771,050.00. Following the sale, the chief financial officer directly owned 6,000 shares in the company, valued at approximately $3,542,100. This represents a 33.33% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO August J. Troendle sold 668 shares of Medpace stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $590.69, for a total transaction of $394,580.92. Following the completion of the transaction, the chief executive officer owned 646,184 shares of the company’s stock, valued at $381,694,426.96. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 387,925 shares of company stock worth $233,386,647. Company insiders own 20.30% of the company’s stock.

About Medpace

Medpace Holdings, Inc (NASDAQ: MEDP) is a global contract research organization (CRO) that provides comprehensive clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports clinical trials across all phases (I–IV), offering end-to-end solutions designed to streamline the development process and accelerate the delivery of new therapies to market.

Medpace’s core service offerings include clinical pharmacology, regulatory affairs consulting, project management, central laboratory services, imaging, data management and biostatistics, pharmacovigilance and medical writing.