Blair William & Co. IL Has $10.18 Million Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

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 cut its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 2.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & 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 about 0.12% of Medpace worth $10,181,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Invesco Ltd. lifted its holdings in shares of Medpace by 91.8% during the fourth 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 last quarter. Wasatch Advisors LP raised its stake in shares of Medpace by 3.1% in the fourth quarter. Wasatch Advisors LP now owns 936,842 shares of the company's stock valued at $311,247,000 after purchasing an additional 28,161 shares in the last quarter. Mawer Investment Management Ltd. acquired a new position in shares of Medpace in the first quarter valued at $212,131,000. Bessemer Group Inc. raised its stake in shares of Medpace by 1.1% in the first quarter. Bessemer Group Inc. now owns 582,269 shares of the company's stock valued at $177,411,000 after purchasing an additional 6,225 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Medpace by 12.4% in the fourth quarter. Renaissance Technologies LLC now owns 553,588 shares of the company's stock valued at $183,919,000 after purchasing an additional 61,100 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Medpace

In related news, CFO Kevin M. Brady sold 12,000 shares of the firm'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 transaction, the chief financial officer owned 6,000 shares in the company, valued at $2,725,380. This trade represents a 66.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Jesse J. Geiger sold 41,801 shares of the firm'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 completion of the transaction, the president owned 36,503 shares in the company, valued at approximately $16,539,874.33. This represents a 53.38% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 112,788 shares of company stock valued at $51,018,354. 20.30% of the stock is currently owned by company insiders.

Medpace Price Performance

Shares of MEDP stock traded up $5.56 during trading hours on Friday, hitting $434.35. 281,122 shares of the company's stock were exchanged, compared to its average volume of 756,088. The stock's 50-day moving average is $347.14 and its 200-day moving average is $327.23. The stock has a market cap of $12.20 billion, a price-to-earnings ratio of 32.29, a price-to-earnings-growth ratio of 2.73 and a beta of 1.42. Medpace Holdings, Inc. has a 52 week low of $250.05 and a 52 week high of $501.30.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its earnings results on Monday, July 21st. The company reported $3.10 EPS for the quarter, topping the consensus estimate of $3.00 by $0.10. The company had revenue of $603.31 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.75 earnings per share. Equities research analysts forecast that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MEDP shares. Robert W. Baird upped their target price on Medpace from $313.00 to $490.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. UBS Group lowered Medpace from a "neutral" rating to a "sell" rating and upped their target price for the company from $300.00 to $305.00 in a research note on Tuesday, July 29th. William Blair restated a "market perform" rating on shares of Medpace in a research note on Wednesday, July 23rd. TD Cowen restated a "sell" rating and issued a $366.00 target price (up from $283.00) on shares of Medpace in a research note on Wednesday, July 23rd. Finally, Truist Financial upped their target price on Medpace from $298.00 to $436.00 and gave the company 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. According to MarketBeat.com, Medpace currently has an average rating of "Hold" and a consensus price target of $406.60.

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.