Canopy Partners LLC Takes $335,000 Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Key Points

• Canopy Partners LLC acquired 1,100 shares of Medpace Holdings, Inc., amounting to approximately $335,000 during the first quarter, adding to the growing institutional interest in the company.
• Medpace's shares have seen significant movement, with a one-year high of $501.30 and a one-year low of $250.05, as well as a market cap of $12.73 billion.
• Equities analysts have mixed views on Medpace, with two analysts issuing a sell rating, eleven a hold rating, and two giving a buy rating, while the consensus rating remains at "Hold" with an average price target of $411.10.

Canopy Partners LLC purchased a new stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,100 shares of the company's stock, valued at approximately $335,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Invesco Ltd. lifted its holdings in Medpace by 91.8% during the fourth quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock valued at $360,387,000 after purchasing an additional 519,186 shares in the last quarter. Wasatch Advisors LP grew its holdings in Medpace by 3.1% during the 4th quarter. Wasatch Advisors LP now owns 936,842 shares of the company's stock worth $311,247,000 after acquiring an additional 28,161 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Medpace by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 656,130 shares of the company's stock worth $218,031,000 after buying an additional 28,076 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Medpace by 1.1% during the 1st quarter. Bessemer Group Inc. now owns 582,269 shares of the company's stock worth $177,411,000 after buying an additional 6,225 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Medpace by 12.4% in the 4th 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 during the last quarter. Institutional investors and hedge funds own 77.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MEDP. William Blair restated a "market perform" rating on shares of Medpace in a research report on Wednesday, July 23rd. Cowen cut shares of Medpace from a "buy" rating to a "sell" rating in a research report on Wednesday, July 23rd. Mizuho lifted their price target on shares of Medpace from $328.00 to $510.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Barclays lifted their price target on shares of Medpace from $300.00 to $450.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 23rd. Finally, TD Cowen reiterated a "sell" rating and set a $366.00 target price (up previously from $283.00) on shares of Medpace 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 issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $406.60.

Medpace Price Performance

Shares of NASDAQ MEDP traded down $4.59 during trading hours on Friday, reaching $422.61. The stock had a trading volume of 319,222 shares, compared to its average volume of 462,687. The business's fifty day moving average is $330.95 and its two-hundred day moving average is $323.49. The company has a market cap of $11.87 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 2.75 and a beta of 1.47. 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 issued its earnings results on Monday, July 21st. The company reported $3.10 EPS for the quarter, beating analysts' consensus estimates of $3.00 by $0.10. The business had revenue of $603.31 million during the quarter, compared to analyst estimates of $537.70 million. Medpace had a return on equity of 67.66% and a net margin of 18.74%. Medpace's revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.75 earnings per share. Sell-side analysts forecast that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Insider Activity

In other Medpace news, General Counsel Stephen P. Ewald sold 3,000 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the completion of the transaction, the general counsel directly owned 10,343 shares in the company, valued at $4,654,350. This represents a 22.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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. Over the last ninety days, insiders sold 112,788 shares of company stock valued at $51,018,354. 20.30% of the stock is owned by company insiders.

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.