Ieq Capital LLC purchased a new stake in Medpace Holdings, Inc. (NASDAQ:MEDP – Free Report) during the 2nd quarter, Holdings Channel reports. The firm purchased 38,375 shares of the company’s stock, valued at approximately $20,323,000.
A number of other hedge funds also recently made changes to their positions in MEDP. Heron Bay Capital Management acquired a new position in shares of Medpace during the second quarter worth approximately $16,038,000. Callan Family Office LLC acquired a new stake in Medpace in the 2nd quarter valued at approximately $252,000. Keebeck Wealth Management acquired a new stake in Medpace in the 2nd quarter valued at approximately $635,000. Allworth Financial LP bought a new stake in Medpace during the 2nd quarter valued at $2,062,000. Finally, B. Metzler seel. Sohn & Co. AG acquired a new position in Medpace during the 2nd quarter worth $4,737,000. Institutional investors own 77.98% of the company’s stock.
Medpace Stock Performance
MEDP opened at $620.75 on Friday. The company has a market capitalization of $17.33 billion, a PE ratio of 36.39, a P/E/G ratio of 2.73 and a beta of 1.15. The stock’s fifty day moving average is $550.16 and its 200-day moving average is $492.71. Medpace Holdings, Inc. has a one year low of $373.00 and a one year high of $677.90.
Insider Buying and Selling at Medpace
In related news, CEO August J. Troendle sold 27,174 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $618.79, for a total value of $16,814,999.46. Following the completion of the sale, the chief executive officer owned 561,195 shares in the company, valued at approximately $347,261,854.05. This represents a 4.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Fred B. Davenport, Jr. sold 7,283 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $606.15, for a total transaction of $4,414,590.45. Following the completion of the transaction, the director directly owned 3,798 shares of the company’s stock, valued at $2,302,157.70. This represents a 65.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 122,261 shares of company stock valued at $71,729,129 over the last three months. 20.50% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on MEDP. Weiss Ratings upgraded shares of Medpace from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 12th. Leerink Partners set a $620.00 target price on shares of Medpace in a research report on Thursday, July 23rd. BMO Capital Markets raised their target price on shares of Medpace from $400.00 to $600.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Royal Bank Of Canada upped their price target on shares of Medpace from $484.00 to $692.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $535.00 price objective on shares of Medpace in a report on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $584.18.
Read Our Latest Research Report on MEDP
Medpace Company Profile
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.
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