Bryce Point Capital LLC acquired a new stake in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,096 shares of the company's stock, valued at approximately $1,010,000. Medpace accounts for approximately 0.8% of Bryce Point Capital LLC's investment portfolio, making the stock its 7th largest position.
A number of other hedge funds have also modified their holdings of MEDP. Invesco Ltd. lifted its position in 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 in the last quarter. Norges Bank purchased a new position in Medpace during the fourth quarter worth approximately $69,859,000. Fundsmith LLP purchased a new position in Medpace during the fourth quarter worth approximately $42,372,000. Spyglass Capital Management LLC lifted its position in Medpace by 85.1% during the fourth quarter. Spyglass Capital Management LLC now owns 262,660 shares of the company's stock worth $87,264,000 after buying an additional 120,778 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in Medpace by 31.3% during the fourth quarter. AQR Capital Management LLC now owns 480,186 shares of the company's stock worth $159,532,000 after buying an additional 114,436 shares in the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on MEDP shares. Truist Financial lifted their target price on Medpace from $298.00 to $436.00 and gave the company a "hold" rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on Medpace from $270.00 to $430.00 and gave the company a "hold" rating in a research report on Wednesday, July 23rd. UBS Group downgraded Medpace from a "neutral" rating to a "sell" rating and lifted their target price for the company from $300.00 to $305.00 in a research report on Tuesday. Mizuho lifted their target price on Medpace from $328.00 to $510.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, Cowen cut Medpace from a "buy" rating to a "sell" rating in a research note on Wednesday, July 23rd. Three 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $406.60.
Get Our Latest Report on MEDP
Medpace Stock Performance
Shares of NASDAQ:MEDP traded down $7.03 on Thursday, hitting $430.75. 264,545 shares of the company's stock were exchanged, compared to its average volume of 462,008. The firm's 50-day moving average is $328.27 and its 200 day moving average is $322.97. The company has a market capitalization of $12.10 billion, a PE ratio of 32.03, a P/E/G ratio of 2.82 and a beta of 1.47. 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 released its quarterly earnings data on Monday, July 21st. The company reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.10. The business had revenue of $603.31 million during 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 quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.75 EPS. On average, analysts anticipate that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.
Insider Transactions at Medpace
In related news, CEO August J. Troendle sold 48,487 shares of the company's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $451.69, for a total value 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. This represents a 4.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin M. Brady sold 12,000 shares of the company's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $454.23, for a total value of $5,450,760.00. Following the completion of the sale, the chief financial officer directly owned 6,000 shares of the company's stock, valued at approximately $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. Over the last quarter, insiders sold 112,788 shares of company stock worth $51,018,354. Insiders own 20.30% of the company's stock.
About Medpace
(
Free Report)
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.
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