LGT Group Foundation Makes New Investment in Medpace Holdings, Inc. (NASDAQ:MEDP)

Key Points

• LGT Group Foundation made a new investment of approximately $682,000 in Medpace Holdings, acquiring 2,237 shares during the first quarter according to their 13F filing.
• Medpace's earnings per share (EPS) for the last quarter was reported at $3.10, surpassing analysts' expectations of $3.00, with a revenue growth of 14.2% year-over-year.
• Research firms have mixed views on Medpace, with ratings ranging from a sell to a hold, and a revised average price target of $406.60.

LGT Group Foundation purchased a new position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,237 shares of the company's stock, valued at approximately $682,000.

Other institutional investors have also modified their holdings of the company. Whittier Trust Co. grew its position in Medpace by 47.3% in the 1st quarter. Whittier Trust Co. now owns 109 shares of the company's stock valued at $33,000 after buying an additional 35 shares in the last quarter. Colonial Trust Co SC grew its position in Medpace by 150.0% in the 4th quarter. Colonial Trust Co SC now owns 175 shares of the company's stock valued at $58,000 after buying an additional 105 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in Medpace in the 1st quarter valued at about $60,000. Assetmark Inc. grew its position in Medpace by 24.9% in the 1st quarter. Assetmark Inc. now owns 216 shares of the company's stock valued at $66,000 after buying an additional 43 shares in the last quarter. Finally, True Wealth Design LLC grew its position in Medpace by 52.7% in the 4th quarter. True Wealth Design LLC now owns 258 shares of the company's stock valued at $86,000 after buying an additional 89 shares in the last quarter. Institutional investors own 77.98% of the company's stock.

Insiders Place Their Bets

In other news, VP Susan E. Burwig sold 7,500 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $450.14, for a total value of $3,376,050.00. Following the completion of the sale, the vice president directly owned 57,500 shares of the company's stock, valued at $25,883,050. This represents a 11.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO August J. Troendle sold 48,487 shares of Medpace stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $451.69, for a total transaction of $21,901,093.03. Following the completion of the sale, the chief executive officer owned 962,615 shares of the company's stock, 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. Insiders sold 112,788 shares of company stock valued at $51,018,354 over the last ninety days. Insiders own 20.30% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. UBS Group lowered shares of Medpace from a "neutral" rating to a "sell" rating and increased their target price for the company from $300.00 to $305.00 in a research report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Medpace from $270.00 to $430.00 and gave the company a "hold" rating in a research report on Wednesday, July 23rd. William Blair restated a "market perform" rating on shares of Medpace in a research report on Wednesday, July 23rd. Barclays raised their price objective on shares of Medpace from $300.00 to $450.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 23rd. Finally, TD Cowen restated a "sell" rating and set a $366.00 price objective (up previously from $283.00) on shares of Medpace in a research report on Wednesday, July 23rd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $406.60.

Medpace Trading Down 0.2%

MEDP stock traded down $0.81 during mid-day trading on Friday, reaching $457.85. 227,324 shares of the stock traded hands, compared to its average volume of 457,588. 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 $12.86 billion, a P/E ratio of 34.04, a P/E/G ratio of 2.94 and a beta of 1.42. The stock's fifty day moving average is $362.88 and its 200-day moving average is $331.22.

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 analysts' consensus estimates of $3.00 by $0.10. The company had revenue of $603.31 million during the quarter, compared to analyst estimates of $537.70 million. Medpace had a net margin of 18.74% and a return on equity of 67.66%. The business's quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.75 earnings per share. Equities research analysts expect that Medpace Holdings, Inc. will post 12.29 earnings per share for the current 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.