Headlands Technologies LLC Grows Position in 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 raised its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 143.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,736 shares of the company's stock after purchasing an additional 4,553 shares during the period. Headlands Technologies LLC's holdings in Medpace were worth $2,357,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Whittier Trust Co. lifted 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 purchasing an additional 35 shares during the period. Assetmark Inc. grew its holdings in 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 during the period. Proficio Capital Partners LLC grew its stake in Medpace by 6.4% during the first quarter. Proficio Capital Partners LLC now owns 777 shares of the company's stock worth $237,000 after buying an additional 47 shares during the period. Aviva PLC grew its stake in Medpace by 2.7% during the fourth quarter. Aviva PLC now owns 1,833 shares of the company's stock worth $609,000 after buying an additional 48 shares during the period. Finally, Park Avenue Securities LLC lifted its position in shares of Medpace by 1.8% during the first quarter. Park Avenue Securities LLC now owns 2,749 shares of the company's stock worth $838,000 after purchasing an additional 48 shares in the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Medpace Price Performance

Shares of NASDAQ:MEDP traded up $10.94 during trading on Monday, hitting $445.29. The company had a trading volume of 167,963 shares, compared to its average volume of 457,570. Medpace Holdings, Inc. has a one year low of $250.05 and a one year high of $501.30. The stock has a market cap of $12.51 billion, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 2.73 and a beta of 1.42. The company has a fifty day simple moving average of $347.14 and a two-hundred day simple moving average of $327.09.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its earnings results 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. The firm had revenue of $603.31 million for the quarter, compared to the consensus estimate of $537.70 million. Medpace had a return on equity of 67.66% and a net margin of 18.74%. The firm's revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.75 EPS. On average, equities research analysts anticipate that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Analysts Set New Price Targets

MEDP has been the topic of several recent analyst reports. Barclays upped their price target on shares of Medpace from $300.00 to $450.00 and gave the company an "equal weight" rating in a report on Wednesday, July 23rd. TD Cowen reissued a "sell" rating and issued a $366.00 price target (up from $283.00) on shares of Medpace in a research report on Wednesday, July 23rd. Truist Financial increased their price target on Medpace from $298.00 to $436.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Cowen cut Medpace from a "buy" rating to a "sell" rating in a research report on Wednesday, July 23rd. Finally, William Blair restated a "market perform" rating on shares of Medpace in a research note on Wednesday, July 23rd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $406.60.

Insider Activity at Medpace

In other news, VP Susan E. Burwig sold 7,500 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $450.14, for a total value of $3,376,050.00. Following the transaction, the vice president owned 57,500 shares of the company's stock, valued at $25,883,050. This represents a 11.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevin M. Brady sold 12,000 shares of the business's 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 sale, the chief financial officer owned 6,000 shares in the company, valued at $2,725,380. This represents a 66.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,788 shares of company stock valued at $51,018,354 in the last three months. Company insiders own 20.30% of the company's stock.

About Medpace

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.