Medpace Holdings, Inc. $MEDP Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Decreases Position

VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 45.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,669 shares of the company’s stock after selling 4,640 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Medpace were worth $3,538,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parcion Private Wealth LLC grew its stake in shares of Medpace by 46.7% during the third quarter. Parcion Private Wealth LLC now owns 892 shares of the company’s stock valued at $557,000 after acquiring an additional 284 shares in the last quarter. Soltis Investment Advisors LLC grew its stake in Medpace by 55.5% during the 3rd quarter. Soltis Investment Advisors LLC now owns 647 shares of the company’s stock valued at $404,000 after purchasing an additional 231 shares in the last quarter. Choreo LLC increased its holdings in Medpace by 12.9% during the 3rd quarter. Choreo LLC now owns 850 shares of the company’s stock worth $530,000 after purchasing an additional 97 shares during the last quarter. Sage Rhino Capital LLC purchased a new stake in Medpace during the 3rd quarter worth approximately $208,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Medpace by 12.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,093 shares of the company’s stock worth $3,168,000 after purchasing an additional 548 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Insider Transactions at Medpace

In related news, VP Susan E. Burwig sold 3,940 shares of Medpace stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $677.00, for a total transaction of $2,667,380.00. Following the transaction, the vice president directly owned 54,012 shares of the company’s stock, valued at $36,566,124. The trade was a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Stephen P. Ewald sold 1,245 shares of Medpace stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $690.00, for a total value of $859,050.00. Following the transaction, the general counsel directly owned 19,098 shares in the company, valued at approximately $13,177,620. The trade was a 6.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 342,647 shares of company stock valued at $213,561,374. Corporate insiders own 20.50% of the company’s stock.

Medpace Price Performance

Shares of MEDP stock opened at $648.14 on Tuesday. Medpace Holdings, Inc. has a 12-month low of $373.00 and a 12-month high of $693.97. The firm has a market capitalization of $18.13 billion, a price-to-earnings ratio of 38.40, a price-to-earnings-growth ratio of 2.69 and a beta of 1.18. The business has a 50 day simple moving average of $619.67 and a 200 day simple moving average of $531.52.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Mizuho set a $730.00 target price on Medpace in a research report on Friday, October 23rd. Weiss Ratings raised shares of Medpace from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Leerink Partners set a $620.00 price target on shares of Medpace in a research note on Thursday, July 23rd. Jefferies Financial Group restated a “hold” rating on shares of Medpace in a research note on Monday, September 14th. Finally, TD Cowen upped their price target on shares of Medpace from $492.00 to $673.00 and gave the company a “hold” rating in a report on Friday, October 23rd. Three investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $649.27.

Medpace Company Profile

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.