Medpace Holdings, Inc. $MEDP Stock Position Cut by Smith Group Asset Management LLC

Smith Group Asset Management LLC lowered its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 39.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 66,432 shares of the company’s stock after selling 42,738 shares during the period. Medpace makes up about 2.7% of Smith Group Asset Management LLC’s holdings, making the stock its 14th biggest holding. Smith Group Asset Management LLC’s holdings in Medpace were worth $41,466,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. SYM FINANCIAL Corp acquired a new stake in Medpace in the third quarter valued at $208,000. Apollon Wealth Management LLC lifted its holdings in Medpace by 8.1% during the 3rd quarter. Apollon Wealth Management LLC now owns 706 shares of the company’s stock worth $441,000 after buying an additional 53 shares during the period. EULAV Asset Management lifted its holdings in Medpace by 35.7% during the 3rd quarter. EULAV Asset Management now owns 44,103 shares of the company’s stock worth $27,528,000 after buying an additional 11,594 shares during the period. Signaturefd LLC lifted its holdings in Medpace by 5.9% during the 3rd quarter. Signaturefd LLC now owns 741 shares of the company’s stock worth $463,000 after buying an additional 41 shares during the period. Finally, Citizens Financial Group Inc. RI lifted its holdings in Medpace by 48.1% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,909 shares of the company’s stock worth $1,192,000 after buying an additional 620 shares during the period. Institutional investors own 77.98% of the company’s stock.

Insiders Place Their Bets

In other Medpace news, CEO August Troendle sold 21,966 shares of the stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $625.47, for a total transaction of $13,739,074.02. Following the completion of the sale, the chief executive officer directly owned 338,225 shares in the company, valued at approximately $211,549,590.75. This trade represents a 6.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Susan Burwig sold 3,940 shares of the stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $677.00, for a total value of $2,667,380.00. Following the sale, the vice president owned 54,012 shares of the company’s stock, valued at approximately $36,566,124. The trade was a 6.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 341,402 shares of company stock worth $212,702,324 in the last ninety days. Insiders own 20.50% of the company’s stock.

Medpace Stock Up 2.8%

MEDP opened at $692.68 on Thursday. Medpace Holdings, Inc. has a twelve month low of $373.00 and a twelve month high of $693.97. The company has a fifty day moving average of $616.95 and a 200-day moving average of $530.64. The stock has a market cap of $19.37 billion, a PE ratio of 38.40, a price-to-earnings-growth ratio of 2.90 and a beta of 1.18.

Medpace (NASDAQ:MEDP) last announced its earnings results on Wednesday, October 21st. The company reported $4.84 earnings per share for the quarter, topping analysts’ consensus estimates of $4.44 by $0.40. Medpace had a net margin of 18.24% and a return on equity of 99.76%. The business had revenue of $716.00 million during the quarter, compared to the consensus estimate of $714.47 million. During the same quarter last year, the firm earned $3.86 earnings per share. Medpace’s quarterly revenue was up 8.5% on a year-over-year basis. Sell-side analysts anticipate that Medpace Holdings, Inc. will post 18.06 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on MEDP. Robert W. Baird set a $699.00 price target on Medpace in a research report on Friday, October 23rd. Truist Financial raised their price objective on Medpace from $609.00 to $633.00 and gave the stock a “hold” rating in a research report on Friday, October 23rd. Mizuho set a $730.00 price objective on Medpace in a research report on Friday, October 23rd. UBS Group lifted their price objective on Medpace from $673.00 to $700.00 and gave the stock a “neutral” rating in a research note on Friday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $535.00 target price on shares of Medpace in a report on Thursday, July 23rd. Three equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $649.27.

About Medpace

Medpace Holdings, Inc is a contract research organization (CRO) that provides clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports sponsors throughout the development process, from early-stage planning and regulatory submissions through clinical trial execution, data management, analysis and reporting.

Medpace’s services include Phase I through Phase IV clinical research, clinical monitoring, biostatistics, data management, medical writing, pharmacovigilance, regulatory consulting and central laboratory services.