Headlands Technologies LLC Purchases 4,553 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Key Points

• Headlands Technologies LLC increased its holdings in Medpace Holdings, Inc. by 143.0%, acquiring an additional 4,553 shares, bringing their total to 7,736 shares worth approximately $2.36 million.
• Multiple institutional investors have also raised their stakes in Medpace recently, contributing to institutional ownership now at 77.98% of the company’s stock.
• Analysts have mixed ratings for Medpace, with price targets ranging from $298 to $510 and a consensus rating of "Hold", indicating cautious optimism about the company's performance.

Headlands Technologies LLC grew its position in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 143.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,736 shares of the company's stock after acquiring an additional 4,553 shares during the period. Headlands Technologies LLC's holdings in Medpace were worth $2,357,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Whittier Trust Co. raised its stake in shares of Medpace by 47.3% in the first quarter. Whittier Trust Co. now owns 109 shares of the company's stock valued at $33,000 after acquiring an additional 35 shares during the last quarter. Colonial Trust Co SC increased its holdings in shares of Medpace by 150.0% in the fourth quarter. Colonial Trust Co SC now owns 175 shares of the company's stock valued at $58,000 after purchasing an additional 105 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Medpace in the first quarter valued at approximately $60,000. Assetmark Inc. increased its holdings in shares of Medpace by 24.9% in the first 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 increased its holdings in shares of Medpace by 52.7% in the fourth quarter. True Wealth Design LLC now owns 258 shares of the company's stock valued at $86,000 after purchasing an additional 89 shares in the last quarter. Institutional investors own 77.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MEDP. Truist Financial raised their price target on shares of Medpace from $298.00 to $436.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Cowen lowered shares of Medpace from a "buy" rating to a "sell" rating in a report on Wednesday, July 23rd. Mizuho upped their target price 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. Robert W. Baird increased 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. Finally, William Blair reissued a "market perform" rating 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 given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Medpace currently has an average rating of "Hold" and a consensus price target of $406.60.

Insider Activity

In other Medpace news, VP Susan E. Burwig sold 7,500 shares of the business's stock in a transaction dated 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 sale, the vice president directly owned 57,500 shares of the company's stock, valued at $25,883,050. The trade was a 11.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO August J. Troendle sold 48,487 shares of the business's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $451.69, for a total transaction of $21,901,093.03. Following the sale, the chief executive officer directly owned 962,615 shares in the company, valued at $434,803,569.35. This trade represents a 4.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 112,788 shares of company stock worth $51,018,354. 20.30% of the stock is currently owned by company insiders.

Medpace Stock Down 1.4%

Shares of MEDP stock opened at $430.37 on Thursday. The firm has a market capitalization of $12.09 billion, a price-to-earnings ratio of 32.00, a price-to-earnings-growth ratio of 2.75 and a beta of 1.42. Medpace Holdings, Inc. has a 12-month low of $250.05 and a 12-month high of $501.30. The firm has a fifty day moving average of $339.02 and a 200-day moving average of $325.40.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The company reported $3.10 EPS for the quarter, beating the consensus estimate of $3.00 by $0.10. The business had revenue of $603.31 million for the quarter, compared to analysts' expectations of $537.70 million. Medpace had a net margin of 18.74% and a return on equity of 67.66%. The firm's revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.75 EPS. Research analysts expect that Medpace Holdings, Inc. will post 12.29 earnings per share 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.

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