Envestnet Portfolio Solutions Inc. Decreases Holdings in Medpace Holdings, Inc. $MEDP

Envestnet Portfolio Solutions Inc. reduced its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 47.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,029 shares of the company’s stock after selling 929 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Medpace were worth $529,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quent Capital LLC acquired a new stake in Medpace in the third quarter valued at $25,000. Root Financial Partners LLC purchased a new stake in shares of Medpace in the 3rd quarter worth about $38,000. Geneos Wealth Management Inc. grew its stake in Medpace by 64.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock valued at $29,000 after acquiring an additional 37 shares during the last quarter. Employees Retirement System of Texas purchased a new position in Medpace during the 2nd quarter valued at about $36,000. Finally, Wilmington Savings Fund Society FSB increased its holdings in Medpace by 124.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 130 shares of the company’s stock valued at $67,000 after acquiring an additional 72 shares in the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Zacks Research downgraded shares of Medpace from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. TD Cowen reiterated a “sell” rating on shares of Medpace in a report on Friday, October 24th. BMO Capital Markets initiated coverage on Medpace in a research report on Thursday, November 13th. They set a “market perform” rating and a $600.00 price target for the company. Wall Street Zen upgraded Medpace from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Finally, Truist Financial set a $555.00 price objective on Medpace in a research report on Monday, October 27th. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Medpace currently has an average rating of “Reduce” and an average price target of $491.27.

Medpace Trading Down 1.8%

NASDAQ MEDP opened at $582.48 on Friday. The company has a market capitalization of $16.41 billion, a PE ratio of 40.73, a price-to-earnings-growth ratio of 1.99 and a beta of 1.43. The business’s 50-day moving average price is $584.28 and its 200 day moving average price is $529.34. Medpace Holdings, Inc. has a twelve month low of $250.05 and a twelve month high of $628.92.

Insider Buying and Selling

In related news, CFO Kevin M. Brady sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $590.35, for a total value of $1,771,050.00. Following the completion of the sale, the chief financial officer directly owned 6,000 shares in the company, valued at approximately $3,542,100. The trade was a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Susan E. Burwig sold 20,000 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $609.15, for a total transaction of $12,183,000.00. Following the transaction, the vice president directly owned 27,500 shares in the company, valued at approximately $16,751,625. This represents a 42.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 341,695 shares of company stock valued at $205,718,239. Insiders own 20.30% of the company’s stock.

Medpace Company Profile

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.