Medpace Holdings, Inc. $MEDP Shares Sold by Berkeley Inc

Berkeley Inc lessened its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 44.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,667 shares of the company’s stock after selling 2,172 shares during the period. Berkeley Inc’s holdings in Medpace were worth $1,371,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Clarkston Capital Partners LLC acquired a new stake in Medpace during the second quarter worth about $40,569,000. Brighton Jones LLC boosted its position in Medpace by 160.4% in the 3rd quarter. Brighton Jones LLC now owns 4,060 shares of the company’s stock worth $2,087,000 after purchasing an additional 2,501 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Medpace during the 2nd quarter worth approximately $15,729,000. Annex Advisory Services LLC increased its holdings in shares of Medpace by 6.6% during the 3rd quarter. Annex Advisory Services LLC now owns 101,685 shares of the company’s stock valued at $52,282,000 after purchasing an additional 6,264 shares in the last quarter. Finally, Arkadios Wealth Advisors acquired a new position in shares of Medpace in the 2nd quarter valued at $327,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. BMO Capital Markets assumed coverage on shares of Medpace in a research report on Thursday, November 13th. They set a “market perform” rating and a $600.00 price target on the stock. Cowen restated a “sell” rating on shares of Medpace in a research report on Friday, October 24th. Wall Street Zen upgraded Medpace from a “hold” rating to a “buy” rating in a research note on Saturday. TD Cowen increased their price target on Medpace from $356.00 to $462.00 and gave the stock a “sell” rating in a research report on Friday, October 24th. Finally, Zacks Research lowered Medpace from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Two investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $491.27.

Medpace Trading Down 1.4%

MEDP stock opened at $602.40 on Wednesday. The firm has a 50-day moving average of $582.94 and a two-hundred day moving average of $516.67. Medpace Holdings, Inc. has a 12 month low of $250.05 and a 12 month high of $628.92. The company has a market cap of $16.97 billion, a price-to-earnings ratio of 42.13, a PEG ratio of 2.05 and a beta of 1.43.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $3.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.36. Medpace had a return on equity of 91.88% and a net margin of 18.36%.The business had revenue of $659.90 million during the quarter, compared to analyst estimates of $640.49 million. During the same period in the prior year, the business earned $3.01 earnings per share. The business’s revenue was up 23.7% compared to the same quarter last year. As a group, equities analysts forecast that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, President Jesse J. Geiger sold 21,503 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $595.66, for a total transaction of $12,808,476.98. Following the transaction, the president owned 15,000 shares of the company’s stock, valued at approximately $8,934,900. The trade was a 58.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Susan E. Burwig sold 20,000 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $609.15, for a total transaction of $12,183,000.00. Following the completion of the sale, the vice president directly owned 27,500 shares of the company’s stock, valued at $16,751,625. This represents a 42.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 387,925 shares of company stock valued at $233,386,647. Insiders own 20.30% of the company’s stock.

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.