Medpace Holdings, Inc. $MEDP Stock: Riverbridge Partners LLC Reduces Position

Riverbridge Partners LLC lowered its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 14.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 157,509 shares of the company’s stock after selling 26,432 shares during the quarter. Medpace accounts for about 3.0% of Riverbridge Partners LLC’s investment portfolio, making the stock its 5th biggest holding. Riverbridge Partners LLC’s holdings in Medpace were worth $98,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Johnson Financial Group Inc. bought a new position in Medpace in the second quarter valued at about $27,000. Jones Financial Companies Lllp purchased a new position in Medpace in the second quarter worth about $30,000. Allied Private Wealth LLC bought a new stake in shares of Medpace during the 2nd quarter valued at about $31,000. Kilter Group LLC bought a new stake in shares of Medpace during the 2nd quarter valued at about $31,000. Finally, Gen Wealth Partners Inc bought a new stake in shares of Medpace during the 3rd quarter valued at about $38,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Analysts Set New Price Targets

MEDP has been the subject of several research reports. Leerink Partners set a $620.00 price target on shares of Medpace in a research report on Thursday, July 23rd. Barclays raised their price objective on shares of Medpace from $625.00 to $675.00 and gave the stock an “equal weight” rating in a report on Friday, October 23rd. UBS Group boosted their target price on shares of Medpace from $673.00 to $700.00 and gave the company a “neutral” rating in a research report on Friday, October 23rd. TD Cowen boosted their target price on shares of Medpace from $492.00 to $673.00 and gave the company a “hold” rating in a research report on Friday, October 23rd. Finally, Royal Bank Of Canada upped their target price on shares of Medpace from $484.00 to $692.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Three analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $649.27.

Insider Activity

In related news, CEO August J. Troendle sold 49,018 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $628.11, for a total transaction of $30,788,695.98. Following the completion of the transaction, the chief executive officer directly owned 433,372 shares in the company, valued at approximately $272,205,286.92. The trade was a 10.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Susan E. Burwig sold 16,060 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $677.00, for a total value of $10,872,620.00. Following the transaction, the vice president owned 57,624 shares of the company’s stock, valued at approximately $39,011,448. This trade represents a 21.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 306,997 shares of company stock worth $192,049,408 in the last ninety days. Corporate insiders own 20.50% of the company’s stock.

Medpace Stock Performance

Shares of Medpace stock opened at $664.54 on Wednesday. Medpace Holdings, Inc. has a one year low of $373.00 and a one year high of $693.97. The stock’s fifty day moving average is $625.40 and its 200 day moving average is $532.88. The stock has a market cap of $18.59 billion, a P/E ratio of 36.84, a P/E/G ratio of 2.61 and a beta of 1.12.

Medpace (NASDAQ:MEDP) last released its earnings results on Wednesday, October 21st. The company reported $4.84 earnings per share for the quarter, beating the consensus estimate of $4.44 by $0.40. Medpace had a return on equity of 99.76% and a net margin of 18.24%. The company had revenue of $716.00 million for the quarter, compared to the consensus estimate of $714.47 million. During the same period in the previous year, the business earned $3.86 earnings per share. Medpace’s quarterly revenue was up 8.5% compared to the same quarter last year. Analysts predict that Medpace Holdings, Inc. will post 18.06 EPS for the current year.

About Medpace

Medpace Holdings, Inc. is a global contract research organization (CRO) that provides clinical development services to the biotechnology, pharmaceutical and medical device industries. Founded in 1992 and headquartered in Cincinnati, Ohio, the company works with clients developing treatments and medical products across a range of therapeutic areas. Medpace offers services spanning the clinical development process, including clinical trial planning and management, regulatory affairs, clinical laboratory testing, data management, biostatistics, medical writing and pharmacovigilance.