Medpace Holdings, Inc. $MEDP Stock Sold by Riverbridge Partners LLC

Riverbridge Partners LLC cut its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 14.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 157,509 shares of the company’s stock after selling 26,432 shares during the quarter. Medpace comprises approximately 3.0% of Riverbridge Partners LLC’s portfolio, making the stock its 5th biggest position. Riverbridge Partners LLC owned approximately 0.56% of Medpace worth $98,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of MEDP. BlackRock Inc. bought a new position in Medpace in the 2nd quarter worth about $1,323,047,000. State Street Corp grew its position in Medpace by 4.2% during the 2nd quarter. State Street Corp now owns 710,895 shares of the company’s stock valued at $376,483,000 after purchasing an additional 28,666 shares during the last quarter. Renaissance Technologies LLC increased its stake in Medpace by 8.3% during the 1st quarter. Renaissance Technologies LLC now owns 504,668 shares of the company’s stock valued at $242,337,000 after purchasing an additional 38,760 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Medpace by 5.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 395,769 shares of the company’s stock valued at $190,044,000 after purchasing an additional 20,736 shares in the last quarter. Finally, Madison Asset Management LLC bought a new stake in Medpace during the 2nd quarter valued at about $128,956,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Price Performance

Shares of NASDAQ:MEDP opened at $664.54 on Wednesday. Medpace Holdings, Inc. has a 1 year low of $373.00 and a 1 year high of $693.97. The company has a market cap of $18.59 billion, a P/E ratio of 36.84, a PEG ratio of 2.61 and a beta of 1.12. The stock’s fifty day moving average price is $625.40 and its 200-day moving average price is $532.88.

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

Insider Activity

In other news, CEO August J. Troendle sold 49,018 shares of Medpace stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $628.11, for a total value of $30,788,695.98. Following the completion of the sale, the chief executive officer directly owned 433,372 shares in the company, valued at $272,205,286.92. The trade was a 10.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Susan E. Burwig sold 16,060 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $677.00, for a total transaction of $10,872,620.00. Following the transaction, the vice president directly owned 57,624 shares of the company’s stock, valued at $39,011,448. The trade was a 21.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 306,997 shares of company stock worth $192,049,408 in the last 90 days. Company insiders own 20.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MEDP shares. Barclays lifted their target price on shares of Medpace from $625.00 to $675.00 and gave the stock an “equal weight” rating in a report on Friday, October 23rd. Royal Bank Of Canada increased their price target on shares of Medpace from $484.00 to $692.00 and gave the company an “outperform” rating in a report on Friday, July 24th. TD Cowen raised their price target on shares of Medpace from $492.00 to $673.00 and gave the company a “hold” rating in a research report on Friday, October 23rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $535.00 price target on shares of Medpace in a research report on Thursday, July 23rd. Finally, Truist Financial boosted their price objective on shares of Medpace from $609.00 to $633.00 and gave the stock 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, the company has a consensus rating of “Hold” and an average target price of $649.27.

Medpace Company Profile

Medpace Holdings, Inc. is a global contract research organization (CRO) that provides clinical development services to the biotechnology, pharmaceutical and medical device industries. Founded in 1992 and headquartered in Cincinnati, Ohio, the company works with clients developing treatments and medical products across a range of therapeutic areas. Medpace offers services spanning the clinical development process, including clinical trial planning and management, regulatory affairs, clinical laboratory testing, data management, biostatistics, medical writing and pharmacovigilance.