The Manufacturers Life Insurance Company decreased its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP – Free Report) by 12.5% during the 1st quarter, HoldingsChannel reports. The fund owned 14,433 shares of the company’s stock after selling 2,063 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Medpace were worth $6,931,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of MEDP. Geneos Wealth Management Inc. increased its holdings in Medpace by 64.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $29,000 after purchasing an additional 37 shares during the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Medpace during the 4th quarter valued at approximately $30,000. Elyxium Wealth LLC acquired a new stake in shares of Medpace during the fourth quarter worth approximately $30,000. Quarry LP acquired a new stake in shares of Medpace during the third quarter worth approximately $35,000. Finally, Bayban bought a new stake in shares of Medpace in the fourth quarter worth $44,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.
Medpace Trading Up 2.2%
Shares of NASDAQ MEDP opened at $587.75 on Thursday. The company has a market capitalization of $16.40 billion, a price-to-earnings ratio of 34.45, a price-to-earnings-growth ratio of 2.57 and a beta of 1.15. Medpace Holdings, Inc. has a twelve month low of $373.00 and a twelve month high of $677.90. The business has a 50 day simple moving average of $516.53 and a 200-day simple moving average of $492.28.
Insiders Place Their Bets
In other Medpace news, VP Susan E. Burwig sold 7,500 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $600.00, for a total transaction of $4,500,000.00. Following the sale, the vice president directly owned 62,984 shares of the company’s stock, valued at approximately $37,790,400. This represents a 10.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Stephen P. Ewald sold 16,349 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $450.00, for a total transaction of $7,357,050.00. Following the completion of the transaction, the general counsel owned 20,343 shares in the company, valued at approximately $9,154,350. The trade was a 44.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 31,087 shares of company stock valued at $16,203,054. Company insiders own 20.50% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. TD Cowen upped their price target on shares of Medpace from $419.00 to $492.00 and gave the company a “hold” rating in a report on Friday, July 24th. Wall Street Zen lowered shares of Medpace from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of Medpace in a research report on Thursday, July 2nd. Royal Bank Of Canada upped their target price on shares of Medpace from $484.00 to $692.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Finally, Jefferies Financial Group cut shares of Medpace from a “buy” rating to a “hold” rating and increased their price target for the stock from $490.00 to $515.00 in a research report on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $584.18.
View Our Latest Stock 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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