Bayforest Capital Ltd Acquires 1,400 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Key Points

• Bayforest Capital Ltd significantly increased its stake in Medpace Holdings, Inc. by 469.8%, owning 1,698 shares worth approximately $517,000 after purchasing 1,400 additional shares in Q1.
• Insider trading activity included a sale of 41,801 shares by President Jesse J. Geiger, which indicated a decrease in their holding by 53.38%.
• Analysts have varied ratings for Medpace, with a consensus rating of "Hold" and an average price target of $406.60, reflecting differing outlooks on the stock's future performance.

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

A number of other hedge funds have also made changes to their positions in MEDP. LPL Financial LLC increased its position in Medpace by 5.3% during the 4th quarter. LPL Financial LLC now owns 17,960 shares of the company's stock worth $6,010,000 after purchasing an additional 909 shares in the last quarter. Norges Bank purchased a new stake in shares of Medpace during the 4th quarter valued at about $69,859,000. Orion Portfolio Solutions LLC raised its holdings in shares of Medpace by 347.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 4,248 shares of the company's stock valued at $1,411,000 after buying an additional 3,299 shares during the period. HighPoint Advisor Group LLC increased its holdings in Medpace by 24.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 795 shares of the company's stock worth $261,000 after purchasing an additional 158 shares during the last quarter. Finally, Nemes Rush Group LLC purchased a new stake in Medpace during the 4th quarter worth approximately $86,000. Hedge funds and other institutional investors own 77.98% of the company's stock.

Medpace Stock Down 1.0%

MEDP stock traded down $4.11 during midday trading on Friday, reaching $423.09. 517,813 shares of the company's stock traded hands, compared to its average volume of 739,468. The company has a 50-day simple moving average of $330.95 and a two-hundred day simple moving average of $323.49. Medpace Holdings, Inc. has a 1-year low of $250.05 and a 1-year high of $501.30. The company has a market cap of $11.88 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 2.69 and a beta of 1.42.

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

Insider Activity at Medpace

In related news, CEO August J. Troendle sold 48,487 shares of Medpace stock in a transaction on Monday, July 28th. The stock was sold at an average price of $451.69, for a total transaction of $21,901,093.03. Following the completion of the sale, the chief executive officer directly owned 962,615 shares of the company's stock, valued at $434,803,569.35. The trade was a 4.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Stephen P. Ewald sold 3,000 shares of Medpace stock in a transaction on Monday, July 28th. The stock was sold at an average price of $450.00, for a total value of $1,350,000.00. Following the sale, the general counsel directly owned 10,343 shares of the company's stock, valued at approximately $4,654,350. This trade represents a 22.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 112,788 shares of company stock valued at $51,018,354 over the last quarter. 20.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MEDP has been the subject of a number of research analyst reports. Barclays boosted their price target on Medpace from $300.00 to $450.00 and gave the company an "equal weight" rating in a report on Wednesday, July 23rd. William Blair reiterated a "market perform" rating on shares of Medpace in a research report on Wednesday, July 23rd. Robert W. Baird boosted their target price on Medpace from $313.00 to $490.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft upped their price target on Medpace from $270.00 to $430.00 and gave the stock a "hold" rating in a research note on Wednesday, July 23rd. Finally, UBS Group downgraded Medpace from a "neutral" rating to a "sell" rating and increased their target price for the company from $300.00 to $305.00 in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $406.60.

Medpace Company 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.