Medpace Holdings, Inc. $MEDP Holdings Cut by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 8.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,137 shares of the company’s stock after selling 4,509 shares during the period. Principal Financial Group Inc.’s holdings in Medpace were worth $25,264,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC boosted its position in Medpace by 22.1% during the 1st quarter. NewEdge Advisors LLC now owns 1,048 shares of the company’s stock valued at $319,000 after purchasing an additional 190 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Medpace by 3.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 81,817 shares of the company’s stock worth $24,929,000 after buying an additional 3,010 shares during the period. Geneos Wealth Management Inc. lifted its stake in Medpace by 64.9% in the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock valued at $29,000 after buying an additional 37 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Medpace during the second quarter valued at $296,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Medpace by 10.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,182 shares of the company’s stock worth $371,000 after acquiring an additional 111 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Medpace

In other news, VP Susan E. Burwig sold 20,000 shares of Medpace stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $609.15, for a total value of $12,183,000.00. Following the transaction, the vice president owned 27,500 shares of the company’s stock, valued at $16,751,625. The trade was a 42.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO August J. Troendle sold 59,025 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $607.78, for a total transaction of $35,874,214.50. Following the completion of the sale, the chief executive officer owned 774,602 shares in the company, valued at $470,787,603.56. The trade was a 7.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 320,192 shares of company stock worth $192,909,762. 20.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MEDP has been the subject of a number of analyst reports. Robert W. Baird set a $613.00 target price on shares of Medpace in a research note on Friday, October 24th. TD Cowen reaffirmed a “sell” rating on shares of Medpace in a report on Friday, October 24th. Zacks Research lowered Medpace from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings restated a “buy (b)” rating on shares of Medpace in a research report on Wednesday, January 28th. Finally, Truist Financial set a $555.00 price target on Medpace in a research report on Monday, October 27th. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $491.27.

Medpace Price Performance

MEDP opened at $542.04 on Friday. The business has a 50 day moving average price of $579.45 and a two-hundred day moving average price of $538.33. The company has a market capitalization of $15.27 billion, a price-to-earnings ratio of 37.90, a price-to-earnings-growth ratio of 1.82 and a beta of 1.42. Medpace Holdings, Inc. has a 1-year low of $250.05 and a 1-year high of $628.92.

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.