Alberta Investment Management Corp Lowers Position 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 Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 36.9% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 2,808 shares of the company's stock after selling 1,639 shares during the period. Alberta Investment Management Corp's holdings in Medpace were worth $856,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MEDP. Whittier Trust Co. increased 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 worth $33,000 after buying an additional 35 shares during the last quarter. Colonial Trust Co SC raised its position in Medpace by 150.0% in the fourth quarter. Colonial Trust Co SC now owns 175 shares of the company's stock worth $58,000 after acquiring an additional 105 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Medpace in the first quarter worth about $60,000. Assetmark Inc. raised its holdings in Medpace by 24.9% during the 1st quarter. Assetmark Inc. now owns 216 shares of the company's stock worth $66,000 after buying an additional 43 shares during the period. Finally, True Wealth Design LLC raised its holdings in Medpace by 52.7% during the 4th quarter. True Wealth Design LLC now owns 258 shares of the company's stock worth $86,000 after buying an additional 89 shares during the period. Hedge funds and other institutional investors own 77.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MEDP. William Blair reissued a "market perform" rating on shares of Medpace in a research note on Wednesday, July 23rd. Cowen cut Medpace from a "buy" rating to a "sell" rating in a research report on Wednesday, July 23rd. Barclays upped their target price on Medpace from $300.00 to $450.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 23rd. Mizuho upped their target price on Medpace from $328.00 to $510.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Finally, UBS Group lowered 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 report on Tuesday, July 29th. Three 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $406.60.

Medpace Trading Up 0.9%

Medpace stock traded up $3.87 during mid-day trading on Tuesday, hitting $436.30. The stock had a trading volume of 428,671 shares, compared to its average volume of 761,460. The stock has a 50-day simple moving average of $336.26 and a two-hundred day simple moving average of $324.63. The stock has a market capitalization of $12.26 billion, a PE ratio of 32.44, a P/E/G ratio of 2.72 and a beta of 1.42. Medpace Holdings, Inc. has a 12 month low of $250.05 and a 12 month high of $501.30.

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

Insider Transactions at Medpace

In other Medpace news, CFO Kevin M. Brady sold 12,000 shares of the company's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $454.23, for a total value of $5,450,760.00. Following the sale, the chief financial officer owned 6,000 shares in the company, valued at approximately $2,725,380. The trade was a 66.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Jesse J. Geiger sold 41,801 shares of the company's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $453.11, for a total value of $18,940,451.11. Following the sale, the president owned 36,503 shares in the company, valued at approximately $16,539,874.33. The trade was a 53.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 112,788 shares of company stock valued at $51,018,354. 20.30% of the stock is owned by insiders.

Medpace Profile

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.