Blueshift Asset Management LLC Buys New Shares in Medpace Holdings, Inc. (NASDAQ:MEDP)

Key Points

• Blueshift Asset Management LLC made a new investment of approximately $301,000 in Medpace Holdings, purchasing 988 shares during the first quarter.
• Insiders at Medpace have recently sold significant amounts of shares, with VP Susan E. Burwig selling 7,500 shares worth over $3.37 million, indicating a substantial change in ownership stakes.
• Medpace reported earnings of $3.10 per share for the last quarter, exceeding estimates, alongside a revenue increase of 14.2% year-over-year, totaling $603.31 million.

Blueshift Asset Management LLC acquired a new position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 988 shares of the company's stock, valued at approximately $301,000.

A number of other hedge funds have also recently added to or reduced their stakes in MEDP. Whittier Trust Co. grew its holdings in Medpace by 47.3% during the 1st quarter. Whittier Trust Co. now owns 109 shares of the company's stock worth $33,000 after acquiring an additional 35 shares during the last quarter. Colonial Trust Co SC boosted its stake in shares of Medpace by 150.0% in the 4th quarter. Colonial Trust Co SC now owns 175 shares of the company's stock valued at $58,000 after purchasing an additional 105 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Medpace in the 1st quarter valued at about $60,000. Assetmark Inc. boosted its stake in shares of Medpace by 24.9% in the 1st quarter. Assetmark Inc. now owns 216 shares of the company's stock valued at $66,000 after purchasing an additional 43 shares during the last quarter. Finally, True Wealth Design LLC boosted its stake in shares of Medpace by 52.7% in the 4th quarter. True Wealth Design LLC now owns 258 shares of the company's stock valued at $86,000 after purchasing an additional 89 shares during the last quarter. Institutional investors own 77.98% of the company's stock.

Medpace Stock Performance

MEDP stock traded down $0.77 during mid-day trading on Tuesday, hitting $431.67. 42,254 shares of the company were exchanged, compared to its average volume of 459,983. The firm has a market cap of $12.13 billion, a P/E ratio of 32.09, a P/E/G ratio of 2.66 and a beta of 1.42. The firm's 50 day simple moving average is $336.26 and its 200 day simple moving average is $324.63. Medpace Holdings, Inc. has a 1-year low of $250.05 and a 1-year 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 firm had revenue of $603.31 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company posted $2.75 EPS. On average, equities research analysts predict that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

Insider Activity

In other news, CEO August J. Troendle sold 48,487 shares of Medpace stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $451.69, for a total value of $21,901,093.03. Following the sale, the chief executive officer directly owned 962,615 shares in the company, valued at $434,803,569.35. This trade represents a 4.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin M. Brady sold 12,000 shares of Medpace stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $454.23, for a total transaction of $5,450,760.00. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 112,788 shares of company stock worth $51,018,354. Corporate insiders own 20.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MEDP. Barclays raised their target price on shares of Medpace from $300.00 to $450.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 23rd. Robert W. Baird raised their target price 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. Cowen lowered shares of Medpace from a "buy" rating to a "sell" rating in a research note on Wednesday, July 23rd. UBS Group lowered shares of Medpace from a "neutral" rating to a "sell" rating and raised their target price for the company from $300.00 to $305.00 in a research note on Tuesday, July 29th. Finally, Truist Financial increased their price target on shares of Medpace from $298.00 to $436.00 and gave the company a "hold" rating in a research report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target 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.