QRG Capital Management Inc. Sells 10,489 Shares of Medpace Holdings, Inc. $MEDP

QRG Capital Management Inc. cut its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 78.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,886 shares of the company’s stock after selling 10,489 shares during the period. QRG Capital Management Inc.’s holdings in Medpace were worth $1,484,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MEDP. Evergreen Capital Management LLC bought a new stake in Medpace during the 3rd quarter worth approximately $368,000. EULAV Asset Management increased its holdings in shares of Medpace by 47.1% in the third quarter. EULAV Asset Management now owns 32,511 shares of the company’s stock worth $16,716,000 after purchasing an additional 10,406 shares during the period. Wilmington Savings Fund Society FSB raised its position in shares of Medpace by 124.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 130 shares of the company’s stock worth $67,000 after buying an additional 72 shares in the last quarter. Blalock Williams LLC bought a new stake in Medpace during the third quarter valued at $954,000. Finally, Impact Capital Partners LLC purchased a new position in Medpace during the third quarter worth about $202,000. 77.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on MEDP shares. Barclays lifted their price target on Medpace from $485.00 to $525.00 and gave the company an “underweight” rating in a research report on Monday, December 15th. Zacks Research lowered shares of Medpace from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Robert W. Baird set a $613.00 price target on shares of Medpace in a research note on Friday, October 24th. TD Cowen raised their price objective on shares of Medpace from $356.00 to $462.00 and gave the company a “sell” rating in a research report on Friday, October 24th. Finally, Mizuho set a $660.00 target price on shares of Medpace in a research report on Friday, January 9th. Two analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $491.27.

Medpace Stock Performance

MEDP stock opened at $602.40 on Wednesday. The company has a market capitalization of $16.97 billion, a PE ratio of 42.13, a price-to-earnings-growth ratio of 2.05 and a beta of 1.43. Medpace Holdings, Inc. has a one year low of $250.05 and a one year high of $628.92. The company’s 50 day moving average price is $582.94 and its two-hundred day moving average price is $516.67.

Medpace (NASDAQ:MEDP) last released its earnings results on Wednesday, October 22nd. The company reported $3.86 EPS for the quarter, beating the consensus estimate of $3.50 by $0.36. The company had revenue of $659.90 million for the quarter, compared to analyst estimates of $640.49 million. Medpace had a net margin of 18.36% and a return on equity of 91.88%. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.01 EPS. On average, research analysts predict that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Insider Buying and Selling at Medpace

In other news, CFO Kevin M. Brady sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $590.35, for a total transaction of $1,771,050.00. Following the transaction, the chief financial officer directly owned 6,000 shares of the company’s stock, valued at approximately $3,542,100. This trade represents a 33.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Susan E. Burwig sold 20,000 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $609.15, for a total value of $12,183,000.00. Following the completion of the sale, the vice president directly owned 27,500 shares of the company’s stock, valued at approximately $16,751,625. This trade represents a 42.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 387,925 shares of company stock worth $233,386,647 over the last three months. Company insiders own 20.30% of the company’s stock.

Medpace Profile

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.