Shell Asset Management Co. Sells 62 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Shell Asset Management Co. reduced its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 4.1% during the first quarter, HoldingsChannel reports. The fund owned 1,435 shares of the company’s stock after selling 62 shares during the period. Shell Asset Management Co.’s holdings in Medpace were worth $580,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rise Advisors LLC bought a new position in Medpace in the 1st quarter worth about $27,000. Mather Group LLC. bought a new position in shares of Medpace in the first quarter worth approximately $28,000. GAMMA Investing LLC purchased a new stake in shares of Medpace during the fourth quarter valued at approximately $30,000. Fidelis Capital Partners LLC purchased a new stake in shares of Medpace during the first quarter valued at approximately $31,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in shares of Medpace during the fourth quarter valued at approximately $33,000. 77.98% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO August J. Troendle sold 15,102 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $400.69, for a total transaction of $6,051,220.38. Following the completion of the transaction, the chief executive officer now owns 791,541 shares in the company, valued at $317,162,563.29. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO August J. Troendle sold 15,102 shares of Medpace stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $400.69, for a total value of $6,051,220.38. Following the sale, the chief executive officer now directly owns 791,541 shares of the company’s stock, valued at $317,162,563.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO August J. Troendle sold 3,987 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $395.22, for a total value of $1,575,742.14. Following the transaction, the chief executive officer now directly owns 660,351 shares of the company’s stock, valued at $260,983,922.22. The disclosure for this sale can be found here. Insiders have sold a total of 29,621 shares of company stock worth $11,816,852 over the last quarter. Insiders own 20.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Robert W. Baird lowered their price objective on Medpace from $469.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday. TD Cowen dropped their price objective on Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reduced their price objective on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a report on Wednesday. StockNews.com upgraded shares of Medpace from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, William Blair reaffirmed an “outperform” rating on shares of Medpace in a report on Tuesday. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $424.14.

Medpace Price Performance

Shares of MEDP stock traded down $2.87 on Friday, hitting $377.63. 64,033 shares of the stock traded hands, compared to its average volume of 242,588. Medpace Holdings, Inc. has a 52 week low of $227.21 and a 52 week high of $459.77. The firm has a 50 day simple moving average of $404.55 and a two-hundred day simple moving average of $381.65. The firm has a market cap of $11.71 billion, a price-to-earnings ratio of 38.79, a PEG ratio of 1.84 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.21. The firm had revenue of $528.10 million during the quarter, compared to analyst estimates of $528.41 million. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.93 earnings per share. Sell-side analysts forecast that Medpace Holdings, Inc. will post 11.59 EPS for the current year.

Medpace Profile

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.