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

Several other institutional investors also recently bought and sold shares of the stock. Whittier Trust Co. increased 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 purchasing an additional 35 shares during the period. Colonial Trust Co SC increased its stake in shares of Medpace by 150.0% during the 4th quarter. Colonial Trust Co SC now owns 175 shares of the company's stock valued at $58,000 after acquiring an additional 105 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Medpace in the first quarter worth $60,000. Assetmark Inc. grew its holdings in Medpace by 24.9% during the 1st quarter. Assetmark Inc. now owns 216 shares of the company's stock valued at $66,000 after purchasing an additional 43 shares in the last quarter. Finally, True Wealth Design LLC grew its holdings in Medpace by 52.7% during the 4th quarter. True Wealth Design LLC now owns 258 shares of the company's stock worth $86,000 after acquiring an additional 89 shares in the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO August J. Troendle sold 48,487 shares of Medpace stock in a transaction 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 owned 962,615 shares of the company's stock, valued at approximately $434,803,569.35. This trade represents a 4.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Stephen P. Ewald sold 3,000 shares of the business's stock in a transaction dated 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 sale, the general counsel directly owned 10,343 shares of the company's stock, valued at $4,654,350. This represents a 22.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 112,788 shares of company stock valued at $51,018,354 in the last three months. 20.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MEDP. TD Cowen reiterated a "sell" rating and issued a $366.00 target price (up previously from $283.00) on shares of Medpace in a research report on Wednesday, July 23rd. Robert W. Baird boosted their price target on Medpace from $313.00 to $490.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Truist Financial boosted their target price on Medpace from $298.00 to $436.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. Barclays increased their price target 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. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Medpace from $270.00 to $430.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $406.60.

Medpace Stock Performance

Shares of MEDP traded down $9.09 during mid-day trading on Wednesday, reaching $427.21. The stock had a trading volume of 193,756 shares, compared to its average volume of 460,868. The firm has a market cap of $12.00 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 2.72 and a beta of 1.42. The business has a fifty day moving average of $339.02 and a 200 day moving average of $325.40. Medpace Holdings, Inc. has a 12 month low of $250.05 and a 12 month 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 for the quarter, beating 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 firm had revenue of $603.31 million during the quarter, compared to the consensus estimate of $537.70 million. During the same period in the previous year, the company posted $2.75 earnings per share. The firm's quarterly revenue was up 14.2% on a year-over-year basis. On average, research analysts forecast 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.