Bayforest Capital Ltd Buys 1,400 Shares of Medpace Holdings, Inc. $MEDP

Key Points

• Bayforest Capital Ltd significantly increased its stake in Medpace Holdings, Inc. by 469.8%, acquiring an additional 1,400 shares, which brought its total holdings to 1,698 shares worth around $517,000.
• Several other large investors, including Brooklyn Investment Group and Whittier Trust Co., also increased their positions in Medpace, contributing to a current institutional ownership of 77.98%.
• Analysts have raised their price targets for Medpace, with Jefferies Financial Group setting a new target of $450.00, reflecting a generally positive outlook despite a mixed consensus on the stock's future performance.

Bayforest Capital Ltd boosted its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 469.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,698 shares of the company's stock after purchasing an additional 1,400 shares during the period. Bayforest Capital Ltd's holdings in Medpace were worth $517,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Medpace by 3.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 81,817 shares of the company's stock worth $24,929,000 after buying an additional 3,010 shares during the period. Zeno Equity Partners LLP boosted its holdings in shares of Medpace by 2.6% in the 1st quarter. Zeno Equity Partners LLP now owns 62,304 shares of the company's stock valued at $18,983,000 after buying an additional 1,564 shares in the last quarter. Ascent Group LLC boosted its holdings in shares of Medpace by 61.9% in the 1st quarter. Ascent Group LLC now owns 15,177 shares of the company's stock valued at $4,624,000 after buying an additional 5,803 shares in the last quarter. United Services Automobile Association acquired a new position in shares of Medpace in the 1st quarter valued at $500,000. Finally, Voleon Capital Management LP acquired a new position in shares of Medpace in the 1st quarter valued at $1,279,000. 77.98% of the stock is owned by hedge funds and other institutional investors.

Medpace Stock Up 0.1%

Shares of MEDP traded up $0.26 during mid-day trading on Monday, reaching $490.90. 64,610 shares of the stock traded hands, compared to its average volume of 441,114. The firm has a market cap of $13.79 billion, a price-to-earnings ratio of 36.46, a P/E/G ratio of 3.09 and a beta of 1.44. The stock has a fifty day simple moving average of $429.46 and a 200 day simple moving average of $349.43. 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 data 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 net margin of 18.74% and a return on equity of 67.66%. The firm had revenue of $603.31 million during the quarter, compared to the consensus estimate of $537.70 million. During the same quarter in the previous year, the company posted $2.75 earnings per share. The firm's revenue was up 14.2% on a year-over-year basis. Medpace has set its FY 2025 guidance at 13.760-14.53 EPS. On average, equities research analysts expect that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MEDP shares. UBS Group downgraded shares of Medpace from a "neutral" rating to a "sell" rating and upped their price objective for the stock from $300.00 to $305.00 in a research report on Tuesday, July 29th. Rothschild Redb cut shares of Medpace from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Robert W. Baird increased their price objective on shares of Medpace from $313.00 to $490.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Jefferies Financial Group raised their price target on shares of Medpace from $400.00 to $450.00 and gave the stock a "hold" rating in a research note on Tuesday, September 9th. Finally, Barclays raised their price target on shares of Medpace from $300.00 to $450.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $422.27.

Insider Activity at Medpace

In other news, General Counsel Stephen P. Ewald sold 3,000 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the completion of the transaction, the general counsel directly owned 10,343 shares in the company, valued at $4,654,350. The trade was a 22.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Jesse J. Geiger sold 41,801 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $453.11, for a total value of $18,940,451.11. Following the transaction, the president owned 36,503 shares of the company's stock, valued at approximately $16,539,874.33. This trade represents a 53.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 161,266 shares of company stock worth $74,111,427. Company insiders own 20.30% of the company's stock.

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.