Kornitzer Capital Management Inc. KS Acquires 3,780 Shares of Medpace Holdings, Inc. $MEDP

Key Points

• Kornitzer Capital Management Inc. KS increased its stake in Medpace Holdings, Inc. by 43.6%, acquiring an additional 3,780 shares during the second quarter, bringing its total holdings to 12,455 shares valued at approximately $3.9 million.
• Wall Street analysts have mixed views on Medpace, with a recent price target set between $400.00 and $462.00, and ratings varying from "Buy" to "Sell," resulting in an average rating of "Reduce".
• Medpace reported a quarterly earnings per share (EPS) of $3.86, surpassing analysts' expectations, alongside a year-over-year revenue increase of 23.7% to $659.90 million.

Kornitzer Capital Management Inc. KS grew its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 43.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,455 shares of the company's stock after acquiring an additional 3,780 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Medpace were worth $3,909,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Whittier Trust Co. increased its holdings in shares of Medpace by 47.3% during 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 in the last quarter. PDS Planning Inc increased its holdings in shares of Medpace by 1.5% during the second quarter. PDS Planning Inc now owns 2,421 shares of the company's stock valued at $760,000 after acquiring an additional 35 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Medpace by 3.1% during the first quarter. Benjamin Edwards Inc. now owns 1,201 shares of the company's stock valued at $366,000 after acquiring an additional 36 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Medpace by 64.9% during the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company's stock valued at $29,000 after acquiring an additional 37 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Medpace by 24.9% during the first quarter. Assetmark Inc. now owns 216 shares of the company's stock valued at $66,000 after acquiring an additional 43 shares in the last quarter. Institutional investors own 77.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MEDP. TD Cowen boosted their price objective on Medpace from $356.00 to $462.00 and gave the company a "sell" rating in a report on Friday. Jefferies Financial Group lifted their target price on Medpace from $400.00 to $450.00 and gave the company a "hold" rating in a research report on Tuesday, September 9th. Cowen reaffirmed a "sell" rating on shares of Medpace in a research report on Friday. Zacks Research cut Medpace from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 22nd. Finally, Rothschild Redb cut Medpace from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Medpace currently has an average rating of "Reduce" and an average price target of $464.00.

Medpace Stock Up 1.4%

Shares of NASDAQ:MEDP opened at $605.20 on Friday. The business's 50 day moving average is $503.13 and its 200 day moving average is $392.06. Medpace Holdings, Inc. has a 12-month low of $250.05 and a 12-month high of $625.00. The stock has a market cap of $17.00 billion, a price-to-earnings ratio of 42.32, a PEG ratio of 3.58 and a beta of 1.40.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $3.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.50 by $0.36. The firm had revenue of $659.90 million during the quarter, compared to the consensus estimate of $640.49 million. Medpace had a return on equity of 91.88% and a net margin of 18.36%.The business's revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.01 EPS. Medpace has set its FY 2025 guidance at 14.600-14.860 EPS. As a group, equities research analysts expect that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Insiders Place Their Bets

In other Medpace news, VP Susan E. Burwig sold 10,000 shares of the company's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $480.00, for a total value of $4,800,000.00. Following the completion of the transaction, the vice president owned 57,500 shares in the company, valued at $27,600,000. This represents a 14.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Stephen P. Ewald sold 3,000 shares of the company's stock in a transaction 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 completion of the transaction, the general counsel owned 10,343 shares of the company's stock, valued at $4,654,350. This trade represents a 22.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 107,465 shares of company stock worth $49,720,216 over the last 90 days. 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.

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