Federated Hermes Inc. Lowers Stake in Medpace Holdings, Inc. $MEDP

Federated Hermes Inc. lessened its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 62.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,003 shares of the company’s stock after selling 19,947 shares during the quarter. Federated Hermes Inc.’s holdings in Medpace were worth $6,171,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Valeo Financial Advisors LLC purchased a new position in shares of Medpace during the 3rd quarter valued at about $217,000. Truist Financial Corp lifted its holdings in shares of Medpace by 12.6% in the 3rd quarter. Truist Financial Corp now owns 14,525 shares of the company’s stock worth $7,468,000 after acquiring an additional 1,627 shares during the last quarter. Barlow Wealth Partners Inc. purchased a new stake in shares of Medpace in the 3rd quarter valued at $232,000. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Medpace by 23.4% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 4,625 shares of the company’s stock valued at $2,379,000 after purchasing an additional 876 shares in the last quarter. Finally, Cabot Wealth Management Inc. grew its holdings in shares of Medpace by 2.3% during the 3rd quarter. Cabot Wealth Management Inc. now owns 18,450 shares of the company’s stock valued at $9,486,000 after purchasing an additional 407 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors.

Medpace Price Performance

Shares of NASDAQ:MEDP opened at $588.17 on Tuesday. The stock’s 50-day moving average is $583.67 and its 200 day moving average is $534.27. The company has a market cap of $16.57 billion, a PE ratio of 41.13, a P/E/G ratio of 1.96 and a beta of 1.42. Medpace Holdings, Inc. has a 1 year low of $250.05 and a 1 year high of $628.92.

Insider Activity

In other Medpace news, CEO August J. Troendle sold 59,025 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $607.78, for a total transaction of $35,874,214.50. Following the transaction, the chief executive officer directly owned 774,602 shares of the company’s stock, valued at approximately $470,787,603.56. The trade was a 7.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Jesse J. Geiger sold 21,503 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $595.66, for a total transaction of $12,808,476.98. Following the completion of the transaction, the president owned 15,000 shares of the company’s stock, valued at $8,934,900. This trade represents a 58.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 341,695 shares of company stock valued at $205,718,239. Company insiders own 20.30% of the company’s stock.

Analysts Set New Price Targets

MEDP has been the subject of several recent research reports. Zacks Research downgraded shares of Medpace from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Mizuho set a $660.00 price objective on Medpace in a report on Friday, January 9th. Truist Financial set a $555.00 target price on Medpace in a research note on Monday, October 27th. BMO Capital Markets assumed coverage on Medpace in a research note on Thursday, November 13th. They issued a “market perform” rating and a $600.00 price target on the stock. Finally, Wall Street Zen raised Medpace from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Two equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $491.27.

About Medpace

Medpace Holdings, Inc (NASDAQ: MEDP) is a global contract research organization (CRO) that provides comprehensive clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports clinical trials across all phases (I–IV), offering end-to-end solutions designed to streamline the development process and accelerate the delivery of new therapies to market.

Medpace’s core service offerings include clinical pharmacology, regulatory affairs consulting, project management, central laboratory services, imaging, data management and biostatistics, pharmacovigilance and medical writing.