Wealth Enhancement Advisory Services LLC Has $8.08 Million Stock Holdings in Medpace Holdings, Inc. $MEDP

Wealth Enhancement Advisory Services LLC grew its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 150.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 15,193 shares of the company’s stock after acquiring an additional 9,117 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Medpace were worth $8,080,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MEDP. Norges Bank bought a new stake in Medpace during the second quarter worth about $66,597,000. Clarkston Capital Partners LLC bought a new stake in shares of Medpace during the 2nd quarter worth approximately $40,569,000. Mawer Investment Management Ltd. boosted its position in shares of Medpace by 17.4% during the 2nd quarter. Mawer Investment Management Ltd. now owns 817,432 shares of the company’s stock worth $256,559,000 after acquiring an additional 121,213 shares in the last quarter. Bares Capital Management Inc. increased its stake in Medpace by 319.2% in the second quarter. Bares Capital Management Inc. now owns 157,084 shares of the company’s stock valued at $49,302,000 after acquiring an additional 119,608 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Medpace by 79.3% during the second quarter. JPMorgan Chase & Co. now owns 265,270 shares of the company’s stock valued at $83,258,000 after purchasing an additional 117,301 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MEDP shares. Wall Street Zen upgraded Medpace from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Truist Financial set a $555.00 target price on shares of Medpace in a report on Monday, October 27th. TD Cowen reaffirmed a “sell” rating on shares of Medpace in a report on Friday, October 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Medpace in a research report on Friday, October 31st. Finally, Zacks Research downgraded Medpace from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Two investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $491.27.

Insider Buying and Selling at Medpace

In related news, President Jesse J. Geiger sold 21,503 shares of the business’s stock in a transaction on 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 in the company, valued at $8,934,900. The trade was a 58.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO August J. Troendle sold 59,025 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $607.78, for a total transaction of $35,874,214.50. Following the transaction, the chief executive officer owned 774,602 shares in the company, valued at $470,787,603.56. This represents a 7.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 387,925 shares of company stock valued at $233,386,647. 20.30% of the stock is currently owned by company insiders.

Medpace Price Performance

Shares of MEDP stock opened at $588.05 on Friday. The business’s 50 day simple moving average is $583.65 and its 200 day simple moving average is $521.26. Medpace Holdings, Inc. has a one year low of $250.05 and a one year high of $628.92. The stock has a market capitalization of $16.57 billion, a PE ratio of 41.12, a PEG ratio of 1.97 and a beta of 1.43.

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

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.