LGT Fund Management Co Ltd. Buys 2,060 Shares of Medpace Holdings, Inc. $MEDP

LGT Fund Management Co Ltd. lifted its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 130.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,640 shares of the company’s stock after acquiring an additional 2,060 shares during the period. LGT Fund Management Co Ltd.’s holdings in Medpace were worth $1,142,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. QRG Capital Management Inc. boosted its stake in shares of Medpace by 2.5% during the 2nd quarter. QRG Capital Management Inc. now owns 13,375 shares of the company’s stock worth $4,198,000 after acquiring an additional 325 shares in the last quarter. Ascent Group LLC boosted its stake in Medpace by 10.8% during the 2nd quarter. Ascent Group LLC now owns 16,818 shares of the company’s stock valued at $5,278,000 after purchasing an additional 1,641 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Medpace by 10.4% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,182 shares of the company’s stock valued at $371,000 after purchasing an additional 111 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in Medpace during the 2nd quarter valued at approximately $5,025,000. Finally, BloombergSen Inc. bought a new stake in Medpace during the 2nd quarter valued at approximately $581,000. Institutional investors own 77.98% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on MEDP shares. Truist Financial increased their target price on Medpace from $298.00 to $436.00 and gave the company a “hold” rating in a research note on Wednesday, July 23rd. Barclays increased their target price on Medpace from $300.00 to $450.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 23rd. Rothschild Redb downgraded Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Rothschild & Co Redburn downgraded Medpace from a “buy” rating to a “neutral” rating and increased their target price for the company from $342.00 to $474.00 in a research note on Wednesday, September 3rd. Finally, Robert W. Baird upped their price target on Medpace from $313.00 to $490.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Medpace presently has an average rating of “Hold” and a consensus target price of $422.27.

Medpace Price Performance

NASDAQ MEDP opened at $532.49 on Friday. The firm has a market cap of $14.96 billion, a PE ratio of 39.59, a price-to-earnings-growth ratio of 3.35 and a beta of 1.40. Medpace Holdings, Inc. has a one year low of $250.05 and a one year high of $547.15. The stock’s 50 day simple moving average is $474.84 and its 200 day simple moving average is $368.00.

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

Insider Transactions at Medpace

In other Medpace news, CFO Kevin M. Brady sold 12,000 shares of the stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $454.23, for a total value of $5,450,760.00. Following the transaction, the chief financial officer directly owned 6,000 shares in the company, valued at approximately $2,725,380. This trade represents a 66.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Jesse J. Geiger sold 41,801 shares of the stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $453.11, for a total value of $18,940,451.11. Following the completion of the transaction, the president owned 36,503 shares in the company, valued at $16,539,874.33. The trade was a 53.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 161,266 shares of company stock worth $74,111,427. Corporate insiders own 20.30% of the company’s stock.

About Medpace

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.