HB Wealth Management LLC Acquires New Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Key Points

• HB Wealth Management LLC has invested approximately $256,000 in Medpace Holdings, Inc., acquiring 839 shares in the first quarter.
• Medpace reported a quarterly EPS of $3.10, exceeding the consensus estimate by $0.10, while revenues increased by 14.2% year-over-year.
• Recent analyst reports have resulted in varying price targets for Medpace, with Barclays raising it to $450.00 and TD Cowen maintaining a "sell" rating with a $366.00 target.

HB Wealth Management LLC purchased a new stake in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 839 shares of the company's stock, valued at approximately $256,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Invesco Ltd. lifted its position in shares of Medpace by 91.8% during the 4th 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. Fundsmith LLP bought a new position in shares of Medpace in 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 valued at $87,264,000 after purchasing an additional 120,778 shares during the period. AQR Capital Management LLC raised its position in shares of Medpace by 31.3% during the 4th quarter. AQR Capital Management LLC now owns 480,186 shares of the company's stock valued at $159,532,000 after purchasing an additional 114,436 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Medpace by 149.9% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 174,569 shares of the company's stock worth $57,997,000 after purchasing an additional 104,705 shares during the period. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on MEDP. Robert W. Baird boosted their target price on shares of Medpace from $313.00 to $490.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Truist Financial upped their price objective on shares of Medpace from $298.00 to $436.00 and gave the stock a "hold" rating in a research report on Wednesday, July 23rd. TD Cowen reaffirmed a "sell" rating and set a $366.00 price target (up from $283.00) on shares of Medpace in a research note on Wednesday, July 23rd. Mizuho lifted their price objective on shares of Medpace from $328.00 to $510.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Finally, Cowen downgraded shares of Medpace from a "buy" rating to a "sell" rating in a report on Wednesday, July 23rd. Three 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 company. According to data from MarketBeat.com, Medpace presently has a consensus rating of "Hold" and a consensus target price of $406.60.

Insider Buying and Selling

In other Medpace news, President Jesse J. Geiger sold 41,801 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $453.11, for a total value of $18,940,451.11. Following the completion of the sale, the president directly owned 36,503 shares of the company's stock, valued at $16,539,874.33. This trade represents a 53.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kevin M. Brady sold 12,000 shares of Medpace stock in a transaction on 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 transaction, the chief financial officer 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. In the last quarter, insiders have sold 112,788 shares of company stock valued at $51,018,354. Corporate insiders own 20.30% of the company's stock.

Medpace Stock Down 1.0%

Shares of NASDAQ:MEDP traded down $4.11 during trading on Friday, reaching $423.09. 517,813 shares of the company traded hands, compared to its average volume of 765,360. The company's 50 day moving average is $333.51 and its two-hundred day moving average is $324.05. The firm has a market capitalization of $11.88 billion, a PE ratio of 31.46, a PEG ratio of 2.66 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 quarterly earnings data on Monday, July 21st. The company reported $3.10 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.10. Medpace had a return on equity of 67.66% and a net margin of 18.74%. The business had revenue of $603.31 million during the quarter, compared to the consensus estimate of $537.70 million. During the same period in the prior year, the company earned $2.75 EPS. Medpace's revenue for the quarter was up 14.2% on a year-over-year basis. As a group, research analysts anticipate that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

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.