Medpace Holdings, Inc. $MEDP Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 9.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,651 shares of the company’s stock after selling 275 shares during the quarter. State of Alaska Department of Revenue’s holdings in Medpace were worth $832,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. increased its position in shares of Medpace by 64.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $29,000 after purchasing an additional 37 shares during the last quarter. Brooklyn Investment Group increased its position in shares of Medpace by 244.8% during the 1st quarter. Brooklyn Investment Group now owns 100 shares of the company’s stock worth $30,000 after purchasing an additional 71 shares during the last quarter. Whittier Trust Co. raised 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 during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Medpace during the 1st quarter worth about $60,000. Finally, Assetmark Inc. lifted its stake in Medpace by 24.9% during the 1st quarter. Assetmark Inc. now owns 216 shares of the company’s stock worth $66,000 after acquiring an additional 43 shares in the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO August J. Troendle sold 48,487 shares of the stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $451.69, for a total value of $21,901,093.03. Following the transaction, the chief executive officer owned 962,615 shares in the company, valued at approximately $434,803,569.35. This represents a 4.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Stephen P. Ewald sold 3,000 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $450.00, for a total value of $1,350,000.00. Following the completion of the transaction, the general counsel owned 10,343 shares in the company, valued at approximately $4,654,350. The trade was a 22.48% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 161,266 shares of company stock worth $74,111,427. 20.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MEDP has been the topic of several research reports. Jefferies Financial Group increased their target price on Medpace from $400.00 to $450.00 and gave the stock a “hold” rating in a research note on Tuesday, September 9th. TD Cowen reissued a “sell” rating and set a $366.00 target price (up previously from $283.00) on shares of Medpace in a research note on Wednesday, July 23rd. Zacks Research lowered Medpace from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 22nd. Cowen lowered Medpace from a “buy” rating to a “sell” rating in a research note on Wednesday, July 23rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Medpace in a research note on Saturday, September 27th. Three investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $422.27.

Medpace Price Performance

MEDP stock opened at $530.30 on Tuesday. The firm has a market capitalization of $14.90 billion, a P/E ratio of 39.43, a P/E/G ratio of 3.35 and a beta of 1.40. The business’s 50-day moving average is $476.38 and its two-hundred day moving average is $369.78. Medpace Holdings, Inc. has a 1 year low of $250.05 and a 1 year high of $547.15.

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

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.