Jefferies Financial Group Inc. Takes $6.41 Million Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Key Points

• Jefferies Financial Group Inc. acquired a new stake in Medpace Holdings, purchasing 21,035 shares valued at approximately $6.41 million, representing 0.07% of the company's stock.
• Medpace's stock experienced a 1.0% decrease recently, with a current market cap of $11.88 billion and earnings of $3.10 per share in their latest quarterly results.
• Insider trading was notable, with CFO Kevin M. Brady selling 12,000 shares for over $5.45 million, representing a 66.67% decrease in their ownership.

Jefferies Financial Group Inc. acquired a new stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,035 shares of the company's stock, valued at approximately $6,409,000. Jefferies Financial Group Inc. owned about 0.07% of Medpace as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Invesco Ltd. increased its position in Medpace by 91.8% during the fourth quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock valued at $360,387,000 after acquiring an additional 519,186 shares during the last quarter. Wasatch Advisors LP increased its position in Medpace by 3.1% in the fourth quarter. Wasatch Advisors LP now owns 936,842 shares of the company's stock worth $311,247,000 after buying an additional 28,161 shares in the last quarter. Mawer Investment Management Ltd. purchased a new stake in Medpace in the first quarter worth about $212,131,000. Geode Capital Management LLC increased its position in Medpace by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 656,130 shares of the company's stock worth $218,031,000 after buying an additional 28,076 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in Medpace by 1.1% in the first quarter. Bessemer Group Inc. now owns 582,269 shares of the company's stock worth $177,411,000 after buying an additional 6,225 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company's stock.

Analyst Ratings Changes

MEDP has been the subject of a number of analyst reports. TD Cowen restated a "sell" rating and issued a $366.00 price target (up previously from $283.00) on shares of Medpace in a research report on Wednesday, July 23rd. Cowen cut Medpace from a "buy" rating to a "sell" rating in a research report on Wednesday, July 23rd. Truist Financial upped their price target on Medpace from $298.00 to $436.00 and gave the stock a "hold" rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft upped their price target on Medpace from $270.00 to $430.00 and gave the stock a "hold" rating in a research report on Wednesday, July 23rd. Finally, Mizuho upped their price target on Medpace from $328.00 to $510.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $406.60.

Insider Activity at Medpace

In related news, CFO Kevin M. Brady sold 12,000 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $454.23, for a total transaction of $5,450,760.00. Following the completion of the transaction, the chief financial officer directly owned 6,000 shares of the company's stock, valued at approximately $2,725,380. This represents a 66.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Stephen P. Ewald sold 3,000 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $450.00, for a total value of $1,350,000.00. Following the transaction, the general counsel directly owned 10,343 shares of the company's stock, valued at approximately $4,654,350. The trade was a 22.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,788 shares of company stock valued at $51,018,354 in the last 90 days. 20.30% of the stock is currently owned by insiders.

Medpace Price Performance

Shares of NASDAQ:MEDP traded down $4.29 during trading on Wednesday, hitting $432.01. 229,615 shares of the company's stock were exchanged, compared to its average volume of 461,141. The business's 50-day simple moving average is $339.02 and its 200 day simple moving average is $325.40. Medpace Holdings, Inc. has a 52-week low of $250.05 and a 52-week high of $501.30. The company has a market cap of $12.14 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 2.72 and a beta of 1.42.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its quarterly 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. Medpace had a return on equity of 67.66% and a net margin of 18.74%. The company had revenue of $603.31 million during the quarter, compared to analyst estimates of $537.70 million. During the same period in the prior year, the company earned $2.75 earnings per share. The firm's revenue was up 14.2% on a year-over-year basis. On average, sell-side analysts anticipate 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.