Angeles Wealth Management LLC Reduces Position in Medpace Holdings, Inc. $MEDP

Angeles Wealth Management LLC cut its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 2.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 908 shares of the company’s stock after selling 23 shares during the period. Angeles Wealth Management LLC’s holdings in Medpace were worth $285,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MEDP. Mawer Investment Management Ltd. purchased a new position in shares of Medpace during the 1st quarter worth about $212,131,000. Vulcan Value Partners LLC boosted its stake in shares of Medpace by 221.6% during the 1st quarter. Vulcan Value Partners LLC now owns 325,916 shares of the company’s stock worth $99,159,000 after purchasing an additional 224,578 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of Medpace by 675.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 121,464 shares of the company’s stock worth $37,009,000 after purchasing an additional 105,807 shares during the period. Invesco Ltd. boosted its stake in shares of Medpace by 9.4% during the 1st quarter. Invesco Ltd. now owns 1,186,768 shares of the company’s stock worth $361,596,000 after purchasing an additional 102,015 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Medpace by 36.0% during the 1st 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 hedge funds and other institutional investors.

Medpace Stock Performance

Shares of MEDP opened at $528.07 on Friday. The company has a 50 day moving average price of $492.23 and a 200-day moving average price of $381.83. Medpace Holdings, Inc. has a fifty-two week low of $250.05 and a fifty-two week high of $547.15. The stock has a market capitalization of $14.83 billion, a PE ratio of 39.26, a PEG ratio of 3.27 and a beta of 1.40.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, July 21st. The company reported $3.10 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.10. Medpace had a net margin of 18.74% and a return on equity of 67.66%. The firm had revenue of $603.31 million during the quarter, compared to analysts’ expectations of $537.70 million. During the same quarter in the prior year, the company earned $2.75 EPS. The company’s revenue was up 14.2% compared to the same quarter last year. Medpace has set its FY 2025 guidance at 13.760-14.53 EPS. Equities research analysts forecast that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on MEDP shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Medpace from $270.00 to $430.00 and gave the stock a “hold” rating in a research note on Wednesday, July 23rd. Barclays boosted their price objective on shares of Medpace from $300.00 to $450.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 23rd. William Blair reissued a “market perform” rating on shares of Medpace in a research report on Wednesday, July 23rd. Zacks Research cut shares of Medpace from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 22nd. Finally, Rothschild & Co Redburn cut shares of Medpace from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $342.00 to $474.00 in a research report on Wednesday, September 3rd. Two investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Medpace has an average rating of “Reduce” and an average target price of $430.60.

Insider Transactions at Medpace

In other news, Director Cornelius P. Mccarthy III sold 1,662 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $465.04, for a total value of $772,896.48. Following the completion of the sale, the director owned 10,197 shares of the company’s stock, valued at approximately $4,742,012.88. This represents a 14.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin M. Brady sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $454.23, for a total transaction of $5,450,760.00. Following the completion of the sale, the chief financial officer directly owned 6,000 shares of the company’s stock, valued at $2,725,380. The trade was a 66.67% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 161,266 shares of company stock worth $74,111,427. Insiders own 20.30% of the company’s stock.

Medpace Company 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.