Medpace Holdings, Inc. $MEDP Shares Sold by MGO One Seven LLC

MGO One Seven LLC lessened its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 4.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 683 shares of the company’s stock after selling 33 shares during the period. MGO One Seven LLC’s holdings in Medpace were worth $214,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Whittier Trust Co. boosted its holdings 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 buying an additional 35 shares in the last quarter. PDS Planning Inc boosted its holdings in shares of Medpace by 1.5% in the 2nd quarter. PDS Planning Inc now owns 2,421 shares of the company’s stock valued at $760,000 after buying an additional 35 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Medpace by 3.1% in the 1st quarter. Benjamin Edwards Inc. now owns 1,201 shares of the company’s stock valued at $366,000 after buying an additional 36 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Medpace by 64.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock valued at $29,000 after buying an additional 37 shares in the last quarter. Finally, Assetmark Inc. boosted its holdings in shares of Medpace by 24.9% in the 1st quarter. Assetmark Inc. now owns 216 shares of the company’s stock valued at $66,000 after buying an additional 43 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.

Analysts Set New Price Targets

MEDP has been the subject of several research analyst reports. Robert W. Baird upped their target price on shares of Medpace from $313.00 to $490.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Barclays upped their target price on shares of Medpace from $300.00 to $450.00 and gave the company an “equal weight” rating in a report on Wednesday, July 23rd. Truist Financial upped their target price on shares of Medpace from $298.00 to $436.00 and gave the company a “hold” rating in a report on Wednesday, July 23rd. Jefferies Financial Group upped their target price on shares of Medpace from $400.00 to $450.00 and gave the company a “hold” rating in a report on Tuesday, September 9th. Finally, Zacks Research cut shares of Medpace from a “strong-buy” rating to a “hold” rating in a report on Monday, September 22nd. Two investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $430.60.

Medpace Price Performance

Shares of NASDAQ:MEDP opened at $544.41 on Tuesday. The stock has a market cap of $15.29 billion, a P/E ratio of 40.48, a P/E/G ratio of 3.31 and a beta of 1.40. The firm has a fifty day moving average price of $494.13 and a 200 day moving average price of $384.67. Medpace Holdings, Inc. has a 1-year low of $250.05 and a 1-year high of $547.15.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, July 21st. The company reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.10. The firm had revenue of $603.31 million during the quarter, compared to analysts’ expectations of $537.70 million. Medpace had a net margin of 18.74% and a return on equity of 67.66%. Medpace’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.75 EPS. Sell-side analysts expect that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

Insider Activity

In other Medpace news, Director Cornelius P. Mccarthy III sold 1,662 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $465.04, for a total transaction of $772,896.48. Following the completion of the transaction, the director owned 10,197 shares in the company, valued at approximately $4,742,012.88. This represents a 14.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin M. Brady sold 12,000 shares of the company’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $454.23, for a total transaction 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. The trade was a 66.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 161,266 shares of company stock worth $74,111,427 over the last 90 days. 20.30% of the stock is owned by corporate insiders.

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.