Sumitomo Mitsui Trust Group Inc. Buys 831 Shares of Medpace Holdings, Inc. $MEDP

Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 831 shares of the company’s stock, valued at approximately $519,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MEDP. Johnson Financial Group Inc. acquired a new position in Medpace in the 2nd quarter worth $27,000. Jones Financial Companies Lllp acquired a new stake in shares of Medpace during the second quarter valued at about $30,000. Allied Private Wealth LLC acquired a new stake in shares of Medpace during the second quarter valued at about $31,000. Kilter Group LLC acquired a new stake in shares of Medpace during the second quarter valued at about $31,000. Finally, Basecamp Wealth Advisors LLC increased its position in shares of Medpace by 187.5% during the first quarter. Basecamp Wealth Advisors LLC now owns 69 shares of the company’s stock worth $33,000 after acquiring an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MEDP. Jefferies Financial Group reiterated a “hold” rating on shares of Medpace in a research note on Monday, September 14th. BMO Capital Markets increased their price target on Medpace from $600.00 to $670.00 and gave the company a “market perform” rating in a report on Monday, October 26th. Mizuho set a $730.00 price objective on Medpace in a research note on Friday, October 23rd. Truist Financial lifted their price objective on Medpace from $609.00 to $633.00 and gave the stock a “hold” rating in a report on Friday, October 23rd. Finally, UBS Group lifted their price objective on Medpace from $673.00 to $700.00 and gave the stock a “neutral” rating in a report on Friday, October 23rd. Three research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, Medpace currently has a consensus rating of “Hold” and an average price target of $649.27.

Medpace Price Performance

Shares of MEDP stock opened at $653.11 on Monday. The firm has a fifty day moving average of $622.54 and a two-hundred day moving average of $532.32. The firm has a market cap of $18.27 billion, a P/E ratio of 36.20, a P/E/G ratio of 2.53 and a beta of 1.12. Medpace Holdings, Inc. has a 1-year low of $373.00 and a 1-year high of $693.97.

Medpace (NASDAQ:MEDP) last issued its earnings results on Wednesday, October 21st. The company reported $4.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.44 by $0.40. Medpace had a net margin of 18.24% and a return on equity of 99.76%. The business had revenue of $716.00 million for the quarter, compared to analyst estimates of $714.47 million. During the same quarter in the prior year, the business posted $3.86 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, sell-side analysts expect that Medpace Holdings, Inc. will post 18.06 EPS for the current year.

Insider Activity at Medpace

In other Medpace news, VP Susan Burwig sold 3,940 shares of the company’s stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $677.00, for a total transaction of $2,667,380.00. Following the sale, the vice president owned 54,012 shares in the company, valued at $36,566,124. This represents a 6.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Stephen Ewald sold 1,245 shares of the stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $690.00, for a total value of $859,050.00. Following the transaction, the general counsel directly owned 19,098 shares in the company, valued at approximately $13,177,620. This represents a 6.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 337,113 shares of company stock valued at $210,232,507 over the last three months. 20.50% of the stock is owned by insiders.

Medpace Company Profile

Medpace Holdings, Inc is a global contract research organization (CRO) that provides clinical development services to the biotechnology, pharmaceutical and medical device industries. Founded in 1992 and headquartered in Cincinnati, Ohio, the company works with clients developing treatments and medical products across a range of therapeutic areas.

Medpace offers services spanning the clinical development process, including clinical trial planning and management, regulatory affairs, clinical laboratory testing, data management, biostatistics, medical writing and pharmacovigilance.