Medpace Holdings, Inc. $MEDP Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 8.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,137 shares of the company’s stock after selling 4,509 shares during the quarter. Principal Financial Group Inc. owned 0.17% of Medpace worth $25,264,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of MEDP. Wasatch Advisors LP increased its position in shares of Medpace by 14.0% in the second quarter. Wasatch Advisors LP now owns 945,814 shares of the company’s stock worth $296,853,000 after acquiring an additional 116,354 shares in the last quarter. Mawer Investment Management Ltd. increased its holdings in Medpace by 17.4% in the 2nd quarter. Mawer Investment Management Ltd. now owns 817,432 shares of the company’s stock valued at $256,559,000 after purchasing an additional 121,213 shares in the last quarter. AQR Capital Management LLC raised its position in Medpace by 15.1% in the second quarter. AQR Capital Management LLC now owns 621,184 shares of the company’s stock valued at $193,269,000 after purchasing an additional 81,637 shares during the period. Baillie Gifford & Co. raised its position in Medpace by 12.0% in the third quarter. Baillie Gifford & Co. now owns 584,796 shares of the company’s stock valued at $300,679,000 after purchasing an additional 62,503 shares during the period. Finally, TD Asset Management Inc lifted its stake in shares of Medpace by 15.6% during the second quarter. TD Asset Management Inc now owns 457,645 shares of the company’s stock worth $143,636,000 after purchasing an additional 61,764 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Price Performance

MEDP opened at $542.04 on Friday. Medpace Holdings, Inc. has a 12-month low of $250.05 and a 12-month high of $628.92. The stock has a market capitalization of $15.27 billion, a PE ratio of 37.90, a P/E/G ratio of 1.82 and a beta of 1.42. The firm’s fifty day moving average price is $579.45 and its 200 day moving average price is $538.33.

Insider Activity at Medpace

In other Medpace news, VP Susan E. Burwig sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $609.15, for a total transaction of $12,183,000.00. Following the sale, the vice president owned 27,500 shares in the company, valued at $16,751,625. This represents a 42.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO August J. Troendle sold 668 shares of Medpace stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $590.69, for a total value of $394,580.92. Following the completion of the transaction, the chief executive officer owned 646,184 shares of the company’s stock, valued at approximately $381,694,426.96. The trade was a 0.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 320,192 shares of company stock valued at $192,909,762 over the last three months. 20.30% of the stock is owned by insiders.

Analyst Ratings Changes

MEDP has been the subject of a number of recent research reports. Truist Financial set a $555.00 target price on Medpace in a research note on Monday, October 27th. Mizuho set a $660.00 price objective on shares of Medpace in a research note on Friday, January 9th. Wall Street Zen raised shares of Medpace from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Barclays raised their price target on shares of Medpace from $485.00 to $525.00 and gave the company an “underweight” rating in a report on Monday, December 15th. Finally, Zacks Research lowered shares of Medpace from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Medpace presently has a consensus rating of “Reduce” and an average target price of $491.27.

About Medpace

Medpace Holdings, Inc (NASDAQ: MEDP) is a global contract research organization (CRO) that provides comprehensive clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports clinical trials across all phases (I–IV), offering end-to-end solutions designed to streamline the development process and accelerate the delivery of new therapies to market.

Medpace’s core service offerings include clinical pharmacology, regulatory affairs consulting, project management, central laboratory services, imaging, data management and biostatistics, pharmacovigilance and medical writing.