Journey Advisory Group LLC Has $276,000 Stake in Medpace Holdings, Inc. $MEDP

Journey Advisory Group LLC lowered its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 66.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 880 shares of the company’s stock after selling 1,747 shares during the period. Journey Advisory Group LLC’s holdings in Medpace were worth $276,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MEDP. Mawer Investment Management Ltd. acquired a new position in shares of Medpace in the 1st quarter worth approximately $212,131,000. Vulcan Value Partners LLC lifted its position 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 valued at $99,159,000 after acquiring an additional 224,578 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of Medpace by 675.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 121,464 shares of the company’s stock valued at $37,009,000 after acquiring an additional 105,807 shares during the period. Invesco Ltd. lifted its position in shares of Medpace by 9.4% during the 1st quarter. Invesco Ltd. now owns 1,186,768 shares of the company’s stock valued at $361,596,000 after acquiring an additional 102,015 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Medpace by 36.0% during the 1st quarter. Northern Trust Corp now owns 337,489 shares of the company’s stock valued at $102,830,000 after acquiring an additional 89,347 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

Insider Activity

In other news, President Jesse J. Geiger sold 41,801 shares of the company’s 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 sale, the president owned 36,503 shares in the company, valued at $16,539,874.33. This represents a 53.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Susan E. Burwig sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $480.00, for a total transaction of $4,800,000.00. Following the completion of the sale, the vice president owned 57,500 shares of the company’s stock, valued at approximately $27,600,000. The trade was a 14.81% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 161,266 shares of company stock valued at $74,111,427. 20.30% of the stock is currently owned by insiders.

Medpace Trading Up 3.1%

MEDP opened at $544.41 on Tuesday. The company’s fifty day moving average price is $494.13 and its two-hundred day moving average price is $384.67. Medpace Holdings, Inc. has a 1-year low of $250.05 and a 1-year high of $547.15. The company has a market cap of $15.29 billion, a price-to-earnings ratio of 40.48, a PEG ratio of 3.31 and a beta of 1.40.

Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Monday, July 21st. The company reported $3.10 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.10. Medpace had a net margin of 18.74% and a return on equity of 67.66%. The firm had revenue of $603.31 million for the quarter, compared to the consensus estimate of $537.70 million. During the same quarter in the prior year, the company posted $2.75 earnings per share. The business’s revenue was up 14.2% on a year-over-year basis. As a group, equities analysts forecast that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on MEDP shares. Rothschild & Co Redburn downgraded shares of Medpace from a “buy” rating to a “neutral” rating and boosted their target price for the company from $342.00 to $474.00 in a research report on Wednesday, September 3rd. TD Cowen reiterated a “sell” rating and set a $366.00 target price (up previously from $283.00) on shares of Medpace in a research report on Wednesday, July 23rd. Robert W. Baird boosted their target price on shares of Medpace from $313.00 to $490.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Zacks Research downgraded shares of Medpace from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 22nd. Finally, Truist Financial boosted their target price on shares of Medpace from $298.00 to $436.00 and gave the company a “hold” rating in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $430.60.

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.