Medpace Holdings, Inc. (NASDAQ:MEDP) Stake Raised by Integrated Investment Consultants LLC

Key Points

• Integrated Investment Consultants LLC increased its holdings in Medpace Holdings, Inc. by 215.8% during the first quarter, reaching a total value of $666,000.
• Medpace stock has seen a recent decline of 1.8%, with shares opening at $447.49 and a market capitalization of $12.57 billion.
• Several analysts have raised their price targets for Medpace, with new targets ranging from $430 to $510, reflecting a consensus rating of "Hold."

Integrated Investment Consultants LLC lifted its stake in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 215.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,185 shares of the company's stock after purchasing an additional 1,493 shares during the period. Integrated Investment Consultants LLC's holdings in Medpace were worth $666,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of MEDP. Invesco Ltd. increased its stake in Medpace by 91.8% during the 4th 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. Norges Bank acquired a new position in Medpace during the fourth quarter worth about $69,859,000. Fundsmith LLP purchased a new stake in shares of Medpace in the 4th quarter valued at approximately $42,372,000. Spyglass Capital Management LLC increased its position in shares of 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 acquiring an additional 120,778 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Medpace by 31.3% in the 4th quarter. AQR Capital Management LLC now owns 480,186 shares of the company's stock valued at $159,532,000 after acquiring an additional 114,436 shares during the period. 77.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MEDP. TD Cowen reissued 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. Mizuho boosted their price objective on Medpace from $328.00 to $510.00 and gave the company an "outperform" rating in a report on Friday. Truist Financial raised their target price on Medpace from $298.00 to $436.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Robert W. Baird boosted their price target on shares of Medpace from $313.00 to $490.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Cowen cut shares of Medpace from a "buy" rating to a "sell" rating in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $411.10.

Insider Buying and Selling

In other news, 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 transaction of $5,450,760.00. Following the completion of the sale, the chief financial officer directly owned 6,000 shares of the company's stock, valued at $2,725,380. The trade was a 66.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Jesse J. Geiger sold 41,801 shares of the company's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $453.11, for a total transaction of $18,940,451.11. Following the sale, the president directly owned 36,503 shares of the company's stock, valued at approximately $16,539,874.33. This trade represents a 53.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.30% of the stock is currently owned by company insiders.

Medpace Stock Up 1.2%

NASDAQ:MEDP traded up $5.56 during mid-day trading on Monday, reaching $453.05. 544,607 shares of the stock were exchanged, compared to its average volume of 688,121. Medpace Holdings, Inc. has a 1 year low of $250.05 and a 1 year high of $501.30. The stock has a market capitalization of $12.73 billion, a P/E ratio of 33.27, a P/E/G ratio of 2.82 and a beta of 1.47. The company has a 50 day simple moving average of $319.66 and a 200-day simple moving average of $320.58.

Medpace (NASDAQ:MEDP - Get Free Report) last released 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 company had revenue of $603.31 million during 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%. Medpace's quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.75 earnings per share. As a group, research analysts predict that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

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.