Millennium Management LLC Sells 21,004 Shares of Medpace Holdings, Inc. $MEDP

Millennium Management LLC trimmed its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 18.5% in the first quarter, Holdings Channel reports. The fund owned 92,761 shares of the company’s stock after selling 21,004 shares during the period. Millennium Management LLC’s holdings in Medpace were worth $28,263,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MEDP. Mawer Investment Management Ltd. acquired a new position in Medpace during the first quarter valued at approximately $212,131,000. Vulcan Value Partners LLC grew its holdings in shares of Medpace by 221.6% during the 1st quarter. Vulcan Value Partners LLC now owns 325,916 shares of the company’s stock worth $99,159,000 after purchasing an additional 224,578 shares in the last quarter. Spyglass Capital Management LLC grew its holdings in shares of Medpace by 85.1% during the 4th quarter. Spyglass Capital Management LLC now owns 262,660 shares of the company’s stock worth $87,264,000 after purchasing an additional 120,778 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Medpace by 675.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 121,464 shares of the company’s stock valued at $37,009,000 after purchasing an additional 105,807 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Medpace by 9.4% during the first quarter. Invesco Ltd. now owns 1,186,768 shares of the company’s stock valued at $361,596,000 after purchasing an additional 102,015 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Stock Up 4.4%

NASDAQ:MEDP opened at $497.59 on Friday. The business’s 50-day simple moving average is $426.07 and its two-hundred day simple moving average is $348.17. The stock has a market cap of $13.98 billion, a PE ratio of 37.00, a P/E/G ratio of 3.00 and a beta of 1.44. Medpace Holdings, Inc. has a 52 week low of $250.05 and a 52 week high of $501.30.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MEDP. Mizuho upped their price target on Medpace from $328.00 to $510.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Cowen lowered Medpace from a “buy” rating to a “sell” rating in a research note on Wednesday, July 23rd. Rothschild Redb lowered Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Robert W. Baird raised their price objective on Medpace from $313.00 to $490.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Medpace from $270.00 to $430.00 and gave the stock a “hold” rating in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Medpace currently has an average rating of “Reduce” and a consensus price target of $422.27.

Insider Buying and Selling

In other news, CEO August J. Troendle sold 48,487 shares of the company’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $451.69, for a total transaction of $21,901,093.03. Following the transaction, the chief executive officer owned 962,615 shares of the company’s stock, valued at approximately $434,803,569.35. This represents a 4.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Susan E. Burwig sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $480.00, for a total value of $4,800,000.00. Following the transaction, the vice president directly owned 57,500 shares in the company, valued at approximately $27,600,000. This represents a 14.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 161,266 shares of company stock valued at $74,111,427 in the last quarter. 20.30% of the stock is currently owned by insiders.

Medpace Company 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.