2,135 Medpace Holdings, Inc. $MEDP Shares Sold by Summit Creek Advisors LLC

Summit Creek Advisors LLC lowered its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 33.1% during the third quarter, Holdings Channel reports. The firm owned 4,314 shares of the company’s stock after selling 2,135 shares during the period. Summit Creek Advisors LLC’s holdings in Medpace were worth $2,693,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MEDP. StoneX Group Inc. bought a new stake in Medpace during the third quarter valued at about $273,000. Allegiance Financial Group Advisory Services LLC increased its stake in shares of Medpace by 22.8% in the third quarter. Allegiance Financial Group Advisory Services LLC now owns 485 shares of the company’s stock worth $303,000 after purchasing an additional 90 shares during the period. Calamos Advisors LLC acquired a new position in shares of Medpace during the 3rd quarter worth about $2,418,000. Legacies Wealth LLC bought a new stake in Medpace during the 3rd quarter valued at approximately $112,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Medpace in the third quarter worth $216,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Trading Up 2.9%

NASDAQ MEDP opened at $653.11 on Friday. Medpace Holdings, Inc. has a 1-year low of $373.00 and a 1-year high of $693.97. The company has a market capitalization of $18.27 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 2.53 and a beta of 1.12. The stock’s 50 day moving average is $622.54 and its two-hundred day moving average is $532.32.

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

Insiders Place Their Bets

In related news, CEO August Troendle sold 49,018 shares of Medpace stock in a transaction dated Tuesday, September 22nd. The shares were 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 of the company’s stock, valued at $272,205,286.92. This trade represents a 10.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Susan Burwig sold 16,060 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $677.00, for a total transaction of $10,872,620.00. Following the sale, the vice president directly 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 342,647 shares of company stock valued at $213,561,374. Company insiders own 20.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. TD Cowen raised their price target on shares of Medpace from $492.00 to $673.00 and gave the stock a “hold” rating in a research report on Friday, October 23rd. Barclays upped their price objective on shares of Medpace from $625.00 to $675.00 and gave the company an “equal weight” rating in a research report on Friday, October 23rd. Leerink Partners set a $620.00 target price on shares of Medpace in a research note on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $535.00 price target on shares of Medpace in a research note on Thursday, July 23rd. Finally, Royal Bank Of Canada upped their price target on Medpace from $484.00 to $692.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Three equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Medpace has an average rating of “Hold” and an average target price of $649.27.

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.