Renaissance Group LLC Acquires 4,259 Shares of Medpace Holdings, Inc. $MEDP

Renaissance Group LLC lifted its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 30.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,349 shares of the company’s stock after acquiring an additional 4,259 shares during the quarter. Renaissance Group LLC owned approximately 0.07% of Medpace worth $5,759,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of MEDP. Portside Wealth Group LLC grew its position in shares of Medpace by 2.5% in the 2nd quarter. Portside Wealth Group LLC now owns 1,090 shares of the company’s stock worth $342,000 after buying an additional 27 shares during the period. Empowered Funds LLC increased its holdings in Medpace by 141.3% in the 2nd quarter. Empowered Funds LLC now owns 20,391 shares of the company’s stock worth $6,400,000 after buying an additional 11,941 shares in the last quarter. Semanteon Capital Management LP bought a new stake in shares of Medpace in the second quarter worth approximately $399,000. Ontario Teachers Pension Plan Board grew its position in Medpace by 23.8% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 17,593 shares of the company’s stock worth $5,522,000 after purchasing an additional 3,385 shares during the period. Finally, Cetera Investment Advisers increased its position in Medpace by 2.7% during the second quarter. Cetera Investment Advisers now owns 12,337 shares of the company’s stock valued at $3,872,000 after acquiring an additional 323 shares during the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Medpace

In other Medpace news, VP Susan E. Burwig sold 18,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $605.00, for a total value of $10,890,000.00. Following the completion of the transaction, the vice president directly owned 47,500 shares of the company’s stock, valued at approximately $28,737,500. The trade was a 27.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO August J. Troendle sold 6,047 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $591.00, for a total transaction of $3,573,777.00. Following the sale, the chief executive officer directly owned 893,368 shares in the company, valued at $527,980,488. This trade represents a 0.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 170,255 shares of company stock valued at $96,157,774. 20.30% of the stock is owned by corporate insiders.

Medpace Stock Up 0.8%

MEDP stock opened at $590.18 on Wednesday. The stock has a market capitalization of $16.62 billion, a PE ratio of 41.27, a price-to-earnings-growth ratio of 2.67 and a beta of 1.42. Medpace Holdings, Inc. has a 52 week low of $250.05 and a 52 week high of $625.00. The firm has a 50 day moving average of $543.35 and a 200 day moving average of $428.47.

Medpace (NASDAQ:MEDP) last issued its earnings results on Wednesday, October 22nd. The company reported $3.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.50 by $0.36. The company had revenue of $659.90 million during the quarter, compared to analyst estimates of $640.49 million. Medpace had a return on equity of 91.88% and a net margin of 18.36%.The firm’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter last year, the business posted $3.01 EPS. Medpace has set its FY 2025 guidance at 14.600-14.860 EPS. On average, equities research analysts expect that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. William Blair reissued a “market perform” rating on shares of Medpace in a research report on Wednesday, July 23rd. Zacks Research upgraded shares of Medpace from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. Mizuho lifted their price objective on shares of Medpace from $575.00 to $655.00 and gave the company an “outperform” rating in a report on Friday, October 24th. Truist Financial set a $555.00 price target on Medpace in a research note on Monday, October 27th. Finally, Rothschild Redb lowered shares of Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $487.18.

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.