Willis Investment Counsel Sells 457 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Willis Investment Counsel lessened its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 4.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 10,148 shares of the company’s stock after selling 457 shares during the period. Willis Investment Counsel’s holdings in Medpace were worth $2,437,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MEDP. Altshuler Shaham Ltd bought a new stake in shares of Medpace during the 4th quarter valued at about $27,000. Rockefeller Capital Management L.P. boosted its position in shares of Medpace by 361.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 143 shares of the company’s stock valued at $30,000 after purchasing an additional 112 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in shares of Medpace during the 4th quarter valued at about $42,000. OLD Mission Capital LLC bought a new stake in shares of Medpace during the 4th quarter valued at about $42,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Medpace during the 2nd quarter valued at about $42,000. Institutional investors own 77.98% of the company’s stock.

Medpace Stock Performance

Shares of Medpace stock traded down $0.05 on Friday, hitting $279.98. The company had a trading volume of 915,322 shares, compared to its average volume of 205,300. The stock has a market capitalization of $8.56 billion, a price-to-earnings ratio of 33.45 and a beta of 1.37. Medpace Holdings, Inc. has a 1 year low of $141.30 and a 1 year high of $282.73. The stock has a 50 day moving average of $259.02 and a 200-day moving average of $223.11.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, July 24th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.90 by $0.03. The firm had revenue of $460.90 million during the quarter, compared to the consensus estimate of $433.75 million. Medpace had a return on equity of 72.88% and a net margin of 16.06%. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.46 earnings per share. Equities analysts anticipate that Medpace Holdings, Inc. will post 8.39 earnings per share for the current year.

Analyst Ratings Changes

MEDP has been the topic of several research analyst reports. Robert W. Baird upped their target price on Medpace from $240.00 to $250.00 in a research report on Friday, September 8th. Guggenheim increased their price target on Medpace from $252.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday, July 25th. StockNews.com lowered Medpace from a “buy” rating to a “hold” rating in a report on Saturday, September 2nd. Finally, UBS Group increased their price target on Medpace from $215.00 to $270.00 in a report on Wednesday, July 26th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $264.33.

Insider Transactions at Medpace

In other news, CFO Kevin M. Brady sold 7,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $255.00, for a total value of $1,785,000.00. Following the completion of the sale, the chief financial officer now directly owns 6,000 shares of the company’s stock, valued at $1,530,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Kevin M. Brady sold 7,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $255.00, for a total transaction of $1,785,000.00. Following the completion of the sale, the chief financial officer now directly owns 6,000 shares of the company’s stock, valued at $1,530,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Stephen P. Ewald sold 21,850 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $254.39, for a total value of $5,558,421.50. Following the sale, the general counsel now directly owns 14,854 shares of the company’s stock, valued at $3,778,709.06. The disclosure for this sale can be found here. Insiders sold a total of 42,632 shares of company stock valued at $11,004,885 over the last ninety days. 25.70% of the stock is currently owned by insiders.

Medpace Profile

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. It offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. The company also provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.