Alberta Investment Management Corp Has $856,000 Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Key Points

• Alberta Investment Management Corp reduced its holdings in Medpace Holdings, Inc. by 36.9% in the first quarter, retaining ownership of 2,808 shares valued at approximately $856,000.
• Several hedge funds have recently changed their stakes in Medpace, with Mawer Investment Management acquiring a position worth $212 million, while Invesco increased its holdings by 91.8%.
• Analyst ratings for Medpace stock are mixed, with a consensus rating of "Hold" and a price target of $406.60, following various adjustments by firms like Barclays and Cowen.

Alberta Investment Management Corp decreased its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 36.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,808 shares of the company's stock after selling 1,639 shares during the quarter. Alberta Investment Management Corp's holdings in Medpace were worth $856,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in MEDP. Whittier Trust Co. lifted its stake in shares of Medpace by 47.3% in the first quarter. Whittier Trust Co. now owns 109 shares of the company's stock valued at $33,000 after buying an additional 35 shares in the last quarter. Assetmark Inc. increased its stake in Medpace by 24.9% during the 1st quarter. Assetmark Inc. now owns 216 shares of the company's stock valued at $66,000 after purchasing an additional 43 shares in the last quarter. Proficio Capital Partners LLC grew its stake in shares of Medpace by 6.4% in the first quarter. Proficio Capital Partners LLC now owns 777 shares of the company's stock worth $237,000 after acquiring an additional 47 shares during the period. Aviva PLC lifted its holdings in Medpace by 2.7% during the fourth quarter. Aviva PLC now owns 1,833 shares of the company's stock valued at $609,000 after purchasing an additional 48 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in shares of Medpace by 1.8% in the first quarter. Park Avenue Securities LLC now owns 2,749 shares of the company's stock worth $838,000 after buying an additional 48 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company's stock.

Insider Buying and Selling

In other Medpace news, VP Susan E. Burwig sold 7,500 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $450.14, for a total transaction of $3,376,050.00. Following the sale, the vice president owned 57,500 shares of the company's stock, valued at approximately $25,883,050. The trade was a 11.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Jesse J. Geiger sold 41,801 shares of the firm's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $453.11, for a total transaction of $18,940,451.11. Following the sale, the president owned 36,503 shares of the company's stock, valued at approximately $16,539,874.33. The trade was a 53.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,788 shares of company stock worth $51,018,354 over the last 90 days. Corporate insiders own 20.30% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MEDP. Truist Financial upped their price target on Medpace from $298.00 to $436.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. UBS Group downgraded Medpace from a "neutral" rating to a "sell" rating and upped their price target for the stock from $300.00 to $305.00 in a research note on Tuesday, July 29th. Mizuho boosted their target price on Medpace from $328.00 to $510.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Robert W. Baird boosted their price target on Medpace from $313.00 to $490.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Medpace from $270.00 to $430.00 and gave the stock a "hold" rating in a research note on Wednesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Medpace has a consensus rating of "Hold" and a consensus target price of $406.60.

Medpace Stock Performance

Shares of NASDAQ MEDP traded down $1.38 during midday trading on Thursday, hitting $429.00. 192,925 shares of the company's stock traded hands, compared to its average volume of 460,215. Medpace Holdings, Inc. has a 1 year low of $250.05 and a 1 year high of $501.30. The firm has a fifty day moving average of $339.02 and a 200 day moving average of $325.40. The stock has a market capitalization of $12.05 billion, a price-to-earnings ratio of 31.74, a price-to-earnings-growth ratio of 2.75 and a beta of 1.42.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The company reported $3.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.00 by $0.10. The business had revenue of $603.31 million during the quarter, compared to analyst estimates of $537.70 million. Medpace had a return on equity of 67.66% and a net margin of 18.74%. The business's revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.75 EPS. On average, equities analysts anticipate that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

About Medpace

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.