Medpace Holdings, Inc. $MEDP Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System cut its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 5.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,699 shares of the company’s stock after selling 300 shares during the quarter. State of Michigan Retirement System’s holdings in Medpace were worth $1,789,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Teacher Retirement System of Texas increased its holdings in Medpace by 2.0% in the 1st quarter. Teacher Retirement System of Texas now owns 7,424 shares of the company’s stock worth $2,262,000 after acquiring an additional 144 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Medpace by 16.1% in the first quarter. Crossmark Global Holdings Inc. now owns 2,270 shares of the company’s stock valued at $692,000 after purchasing an additional 315 shares during the period. Linden Thomas Advisory Services LLC increased its stake in shares of Medpace by 1.9% during the first quarter. Linden Thomas Advisory Services LLC now owns 4,746 shares of the company’s stock worth $1,446,000 after purchasing an additional 87 shares in the last quarter. Alps Advisors Inc. raised its position in shares of Medpace by 10.0% during the 1st quarter. Alps Advisors Inc. now owns 1,098 shares of the company’s stock worth $335,000 after purchasing an additional 100 shares during the last quarter. Finally, Covey Capital Advisors LLC acquired a new position in shares of Medpace during the 1st quarter worth about $1,261,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MEDP. Zacks Research upgraded Medpace from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Robert W. Baird set a $613.00 price target on Medpace in a research report on Friday, October 24th. Rothschild & Co Redburn downgraded Medpace from a “buy” rating to a “neutral” rating and increased their price objective for the company from $342.00 to $474.00 in a research note on Wednesday, September 3rd. Mizuho lifted their target price on shares of Medpace from $575.00 to $655.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. Finally, UBS Group lowered shares of Medpace from a “neutral” rating to a “sell” rating and upped their target price for the stock from $300.00 to $305.00 in a report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $475.90.

Medpace Stock Performance

NASDAQ:MEDP opened at $592.19 on Friday. Medpace Holdings, Inc. has a one year low of $250.05 and a one year high of $625.00. The stock has a market cap of $16.68 billion, a PE ratio of 41.41, a P/E/G ratio of 2.67 and a beta of 1.42. The stock has a 50 day moving average price of $525.46 and a 200 day moving average price of $410.27.

Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $3.86 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.36. The company had revenue of $659.90 million for 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 firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.01 earnings per share. Medpace has set its FY 2025 guidance at 14.600-14.860 EPS. As a group, analysts predict that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Stephen P. Ewald sold 15,230 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $598.85, for a total value of $9,120,485.50. Following the completion of the sale, the general counsel owned 13,343 shares of the company’s stock, valued at approximately $7,990,455.55. This represents a 53.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Jesse J. Geiger sold 19,460 shares of Medpace stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $605.12, for a total transaction of $11,775,635.20. Following the transaction, the president directly owned 36,503 shares in the company, valued at $22,088,695.36. This trade represents a 34.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 94,708 shares of company stock worth $50,761,481. Insiders own 20.30% of the company’s stock.

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.