Oxbow Advisors Increases Stake in Medpace Holdings by 3.6%

Oxbow Advisors LLC has enhanced its investment in Medpace Holdings, Inc. (NASDAQ: MEDP) by acquiring an additional 323 shares during the second quarter, representing a 3.6% increase in its stake. According to a recent filing with the Securities and Exchange Commission (SEC), Oxbow Advisors now holds a total of 9,188 shares, valued at approximately $2.884 million.

This move reflects ongoing interest from institutional investors in Medpace. Other notable investors have also increased their holdings recently. GAMMA Investing LLC raised its stake by 37.1% in the first quarter, now owning 307 shares valued at $94,000. Similarly, QRG Capital Management Inc. boosted its investment by 10.9%, bringing its total to 13,050 shares worth around $3.976 million after acquiring an additional 1,283 shares.

Blue Trust Inc. increased its stake by 60.5%, now holding 467 shares valued at $142,000. Cabot Wealth Management Inc. also added to its position, increasing its holdings by 8.9% to 17,969 shares, valued at $5.475 million. Lastly, Ausbil Investment Management Ltd. entered the market with a new stake valued at approximately $601,000. Overall, institutional investors now own 77.98% of Medpace’s stock.

Medpace Stock Performance and Insider Transactions

As of the latest trading session, shares of Medpace opened at $521.21. The company has demonstrated significant stock performance, with a 50-day moving average price of $490.36 and a 200-day moving average of $380.24. Medpace’s market capitalization stands at $14.64 billion, featuring a price-to-earnings ratio of 38.75 and a P/E/G ratio of 3.23. The stock has experienced a 52-week range with a low of $250.05 and a high of $547.15.

In related news, CEO August J. Troendle sold 48,487 shares on July 28, 2023, at an average price of $451.69, totaling about $21.9 million. Following this transaction, he retains ownership of 962,615 shares valued at approximately $434.8 million, marking a 4.8% reduction in his stake. Similarly, CFO Kevin M. Brady sold 12,000 shares on July 24, 2023, for about $5.45 million, reducing his ownership by 66.67% to 6,000 shares valued at $2.725 million. In total, company insiders have sold 161,266 shares valued at around $74.1 million, with insiders currently holding 20.30% of the stock.

Analyst Ratings and Market Outlook

Recent evaluations from equity research analysts reveal a mixed sentiment regarding Medpace shares. Weiss Ratings reaffirmed a “buy (B-)” rating on October 8, 2023. Meanwhile, Jefferies Financial Group raised its price target from $400.00 to $450.00 while maintaining a “hold” rating. Conversely, Zacks Research downgraded its assessment from “strong-buy” to “hold” on September 22, 2023.

Truist Financial adjusted its price target from $298.00 to $436.00, retaining a “hold” rating, while TD Cowen reiterated a “sell” rating but raised its price objective from $283.00 to $366.00. The consensus rating for Medpace currently stands at “Reduce,” with an average price target of $424.10, according to data from MarketBeat.

Medpace Holdings, Inc. specializes in providing outsourced clinical development services to the biotechnology, pharmaceutical, and medical device sectors. Its comprehensive offerings include clinical trial management, regulatory affairs, and patient recruitment, among other services, positioning it as a significant player in its industry.

Investors seeking more insights into Medpace can access additional research reports and updates from reliable financial sources.