Erste Asset Management GmbH Sells 973 Shares of Medpace Holdings, Inc. $MEDP

Erste Asset Management GmbH lessened its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 5.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,573 shares of the company’s stock after selling 973 shares during the period. Erste Asset Management GmbH’s holdings in Medpace were worth $5,128,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in MEDP. Brooklyn Investment Group lifted its stake in Medpace by 244.8% during the first quarter. Brooklyn Investment Group now owns 100 shares of the company’s stock worth $30,000 after purchasing an additional 71 shares during the period. Whittier Trust Co. lifted its stake in Medpace by 47.3% during the first quarter. Whittier Trust Co. now owns 109 shares of the company’s stock worth $33,000 after purchasing an additional 35 shares during the period. Colonial Trust Co SC lifted its stake in Medpace by 150.0% during the fourth quarter. Colonial Trust Co SC now owns 175 shares of the company’s stock worth $58,000 after purchasing an additional 105 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in Medpace during the first quarter worth about $60,000. Finally, Assetmark Inc. lifted its stake in Medpace by 24.9% during the first quarter. Assetmark Inc. now owns 216 shares of the company’s stock worth $66,000 after purchasing an additional 43 shares during the period. Institutional investors own 77.98% of the company’s stock.

Medpace Price Performance

Shares of Medpace stock opened at $465.72 on Thursday. The firm has a market cap of $13.08 billion, a P/E ratio of 34.63, a P/E/G ratio of 2.91 and a beta of 1.42. The firm has a 50 day simple moving average of $372.56 and a 200 day simple moving average of $333.62. Medpace Holdings, Inc. has a fifty-two week low of $250.05 and a fifty-two week high of $501.30.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, July 21st. The company reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.10. The business had revenue of $603.31 million during the quarter, compared to analyst estimates of $537.70 million. Medpace had a net margin of 18.74% and a return on equity of 67.66%. Medpace’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.75 earnings per share. Medpace has set its FY 2025 guidance at 13.760-14.53 EPS. On average, sell-side analysts expect that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Insiders Place Their Bets

In related news, President Jesse J. Geiger sold 41,801 shares of the firm’s stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $453.11, for a total value of $18,940,451.11. Following the completion of the sale, the president owned 36,503 shares of the company’s stock, valued at $16,539,874.33. This trade represents a 53.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO August J. Troendle sold 48,487 shares of the firm’s stock in a transaction that occurred on Monday, July 28th. The shares were 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 directly owned 962,615 shares of the company’s stock, valued at approximately $434,803,569.35. This represents a 4.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,788 shares of company stock valued at $51,018,354 over the last quarter. Company insiders own 20.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on MEDP shares. TD Cowen restated a “sell” rating and set a $366.00 price target (up previously from $283.00) on shares of Medpace in a research note on Wednesday, July 23rd. UBS Group cut shares of Medpace from a “neutral” rating to a “sell” rating and raised their price target for the stock from $300.00 to $305.00 in a research note on Tuesday, July 29th. Truist Financial raised their price target on shares of Medpace from $298.00 to $436.00 and gave the stock a “hold” rating in a research note on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Medpace from $270.00 to $430.00 and gave the stock a “hold” rating in a report on Wednesday, July 23rd. Finally, Barclays raised their price objective on shares of Medpace from $300.00 to $450.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $406.60.

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.