Blueshift Asset Management LLC Makes New $301,000 Investment 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 purchased a new stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 988 shares of the company's stock, valued at approximately $301,000.

Several other hedge funds have also modified their holdings of the company. Commerce Bank lifted its position in shares of Medpace by 3.9% during the first quarter. Commerce Bank now owns 2,138 shares of the company's stock valued at $651,000 after buying an additional 80 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Medpace during the first quarter valued at about $6,409,000. Bayforest Capital Ltd lifted its position in shares of Medpace by 469.8% during the first quarter. Bayforest Capital Ltd now owns 1,698 shares of the company's stock valued at $517,000 after buying an additional 1,400 shares during the last quarter. XTX Topco Ltd lifted its position in shares of Medpace by 70.2% during the first quarter. XTX Topco Ltd now owns 6,336 shares of the company's stock valued at $1,931,000 after buying an additional 2,614 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Medpace by 7.5% during the first quarter. Federated Hermes Inc. now owns 22,057 shares of the company's stock valued at $6,721,000 after buying an additional 1,543 shares during the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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, VP Susan E. Burwig sold 7,500 shares of Medpace stock in a transaction on Monday, July 28th. The shares were sold at an average price of $450.14, for a total transaction of $3,376,050.00. Following the completion of the sale, the vice president directly owned 57,500 shares in the company, valued at $25,883,050. This represents a 11.54% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 112,788 shares of company stock worth $51,018,354. 20.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. UBS Group downgraded shares of Medpace from a "neutral" rating to a "sell" rating and upped their price objective for the company from $300.00 to $305.00 in a report on Tuesday, July 29th. TD Cowen restated a "sell" rating and set a $366.00 price objective (up previously from $283.00) on shares of Medpace in a report on Wednesday, July 23rd. Barclays upped their price objective on shares of Medpace from $300.00 to $450.00 and gave the company an "equal weight" rating in a report on Wednesday, July 23rd. Cowen downgraded shares of Medpace from a "buy" rating to a "sell" rating in a report on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Medpace from $270.00 to $430.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Medpace currently has an average rating of "Hold" and an average price target of $406.60.

Medpace Stock Down 0.7%

Shares of NASDAQ MEDP traded down $2.98 during midday trading on Thursday, reaching $427.39. 16,743 shares of the stock were exchanged, compared to its average volume of 459,054. The firm has a market cap of $12.01 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 2.75 and a beta of 1.42. The firm has a 50-day simple moving average of $339.02 and a two-hundred day simple moving average of $325.40. 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 posted its earnings results on Monday, July 21st. The company reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.10. The firm had revenue of $603.31 million during 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% on a year-over-year basis. During the same period in the previous year, the firm earned $2.75 EPS. Research analysts expect 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.