Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Sold by Blair William & Co. IL

Key Points

• Blair William & Co. IL reduced its stake in Medpace Holdings by 2.1%, selling 730 shares and holding 33,415 shares worth approximately $10.18 million.
• During the first quarter, institutional investors collectively owned 77.98% of Medpace stock, with several large firms making notable acquisitions and changes to their holdings.
• Medpace reported $3.10 earnings per share for the latest quarter, surpassing analysts' estimates, along with a 14.2% increase in revenue year-over-year, totaling $603.31 million.

Blair William & Co. IL lessened its position in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 2.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,415 shares of the company's stock after selling 730 shares during the quarter. Blair William & Co. IL owned 0.12% of Medpace worth $10,181,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MEDP. Mawer Investment Management Ltd. bought a new stake in shares of Medpace during the first quarter worth $212,131,000. Invesco Ltd. increased its stake in Medpace by 91.8% in the 4th quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock worth $360,387,000 after buying an additional 519,186 shares during the period. Vulcan Value Partners LLC lifted its holdings in Medpace by 221.6% during the 1st quarter. Vulcan Value Partners LLC now owns 325,916 shares of the company's stock valued at $99,159,000 after buying an additional 224,578 shares in the last quarter. Fundsmith LLP bought a new stake in Medpace during the 4th quarter valued at about $42,372,000. Finally, Spyglass Capital Management LLC boosted its position in Medpace by 85.1% in the 4th quarter. Spyglass Capital Management LLC now owns 262,660 shares of the company's stock valued at $87,264,000 after buying an additional 120,778 shares during the period. 77.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MEDP. Cowen lowered shares of Medpace from a "buy" rating to a "sell" rating in a research report on Wednesday, July 23rd. Barclays increased their price objective on Medpace from $300.00 to $450.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft upped their target price on Medpace from $270.00 to $430.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. Mizuho upped their price target on shares of Medpace from $328.00 to $510.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Finally, Truist Financial raised their price objective on Medpace from $298.00 to $436.00 and gave the company a "hold" rating in a research report on Wednesday, July 23rd. Three investment 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.com, the company presently has a consensus rating of "Hold" and a consensus price target of $406.60.

Insiders Place Their Bets

In other news, President Jesse J. Geiger sold 41,801 shares of Medpace stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $453.11, for a total transaction of $18,940,451.11. Following the completion of the transaction, the president directly owned 36,503 shares of the company's stock, valued at $16,539,874.33. The trade was a 53.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO August J. Troendle sold 48,487 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 962,615 shares in the company, valued at approximately $434,803,569.35. The trade was a 4.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 112,788 shares of company stock worth $51,018,354. Corporate insiders own 20.30% of the company's stock.

Medpace Stock Performance

Shares of NASDAQ MEDP traded down $1.58 during mid-day trading on Thursday, hitting $428.79. The stock had a trading volume of 266,435 shares, compared to its average volume of 763,558. The company has a 50 day moving average of $344.38 and a two-hundred day moving average of $326.76. The firm has a market cap of $12.04 billion, a PE ratio of 31.88, a PEG ratio of 2.71 and a beta of 1.42. Medpace Holdings, Inc. has a twelve month low of $250.05 and a twelve 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 earnings per share for the quarter, topping analysts' consensus estimates of $3.00 by $0.10. The firm had revenue of $603.31 million for the quarter, compared to analyst estimates of $537.70 million. Medpace had a net margin of 18.74% and a return on equity of 67.66%. The business's quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.75 earnings per share. Equities research analysts predict that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

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.