Oppenheimer Asset Management Inc. Sells 651 Shares of Medpace Holdings, Inc. $MEDP

Oppenheimer Asset Management Inc. trimmed its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 1.7% in the 2nd quarter, Holdings Channel reports. The fund owned 37,700 shares of the company’s stock after selling 651 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Medpace were worth $11,833,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Invesco Ltd. boosted its position in shares of Medpace by 9.4% in the first quarter. Invesco Ltd. now owns 1,186,768 shares of the company’s stock valued at $361,596,000 after acquiring an additional 102,015 shares during the period. Mawer Investment Management Ltd. bought a new position in Medpace in the first quarter worth $212,131,000. AQR Capital Management LLC lifted its position in Medpace by 12.4% in the first quarter. AQR Capital Management LLC now owns 539,547 shares of the company’s stock worth $158,470,000 after purchasing an additional 59,361 shares during the period. TD Asset Management Inc lifted its position in Medpace by 15.6% in 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 during the period. Finally, Northern Trust Corp lifted its position in Medpace by 36.0% in the first quarter. Northern Trust Corp now owns 337,489 shares of the company’s stock worth $102,830,000 after purchasing an additional 89,347 shares during the period. 77.98% of the stock is owned by institutional investors.

Insider Activity at Medpace

In other Medpace news, VP Susan E. Burwig sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $480.00, for a total transaction of $4,800,000.00. Following the completion of the transaction, the vice president owned 57,500 shares of the company’s stock, valued at $27,600,000. This represents a 14.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Cornelius P. Mccarthy III sold 1,662 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $465.04, for a total value of $772,896.48. Following the transaction, the director directly owned 10,197 shares of the company’s stock, valued at approximately $4,742,012.88. This trade represents a 14.01% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 48,478 shares of company stock worth $23,093,073. 20.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on MEDP shares. Cowen reaffirmed a “sell” rating on shares of Medpace in a research report on Friday. Truist Financial raised their target price on Medpace from $298.00 to $436.00 and gave the stock a “hold” rating in a research report on Wednesday, July 23rd. Zacks Research cut Medpace from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 22nd. Jefferies Financial Group lifted their price objective on Medpace from $400.00 to $450.00 and gave the company a “hold” rating in a report on Tuesday, September 9th. Finally, Rothschild & Co Redburn cut Medpace from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $342.00 to $474.00 in a report on Wednesday, September 3rd. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $464.00.

Medpace Stock Up 1.4%

Shares of MEDP stock opened at $605.20 on Monday. The stock has a 50-day moving average price of $503.13 and a 200 day moving average price of $392.69. The firm has a market cap of $17.05 billion, a price-to-earnings ratio of 42.32, a PEG ratio of 3.58 and a beta of 1.40. Medpace Holdings, Inc. has a 12 month low of $250.05 and a 12 month high of $625.00.

Medpace (NASDAQ:MEDP) last posted its earnings results on Wednesday, October 22nd. The company reported $3.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.50 by $0.36. The company had revenue of $659.90 million during the quarter, compared to analyst estimates of $640.49 million. Medpace had a return on equity of 91.88% and a net margin of 18.36%.The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.01 EPS. Medpace has set its FY 2025 guidance at 14.600-14.860 EPS. Sell-side analysts predict that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Medpace Profile

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.