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Mawer Investment Management Ltd. Makes New $212.13 Million Investment in Medpace Holdings, Inc. (NASDAQ:MEDP)

Medpace logo with Medical background

Key Points

  • Mawer Investment Management Ltd. purchased 696,219 shares of Medpace Holdings, valued at approximately $212 million, making it 1.0% of their holdings and the 29th largest position.
  • Medpace's quarterly earnings exceeded analyst expectations, reporting $3.10 earnings per share and revenue of $603.31 million, up 14.2% year-over-year.
  • Despite a mix of ratings from analysts, the average target price for Medpace Holdings is $411.10 with a consensus rating of "Hold."
  • MarketBeat previews the top five stocks to own by September 1st.

Mawer Investment Management Ltd. purchased a new stake in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 696,219 shares of the company's stock, valued at approximately $212,131,000. Medpace makes up about 1.0% of Mawer Investment Management Ltd.'s investment portfolio, making the stock its 29th biggest holding. Mawer Investment Management Ltd. owned 2.42% of Medpace at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Whittier Trust Co. boosted its stake in shares of Medpace by 47.3% during the 1st quarter. Whittier Trust Co. now owns 109 shares of the company's stock worth $33,000 after purchasing an additional 35 shares during the last quarter. Colonial Trust Co SC lifted its holdings in shares of Medpace by 150.0% during the 4th quarter. Colonial Trust Co SC now owns 175 shares of the company's stock worth $58,000 after acquiring an additional 105 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Medpace during the 1st quarter worth about $60,000. Assetmark Inc. raised 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 buying an additional 43 shares during the period. Finally, Nemes Rush Group LLC purchased a new position in Medpace in the fourth quarter valued at approximately $86,000. Hedge funds and other institutional investors own 77.98% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Barclays raised 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. Deutsche Bank Aktiengesellschaft raised their price target on shares of Medpace from $270.00 to $430.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Truist Financial raised their price target on shares of Medpace from $298.00 to $436.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Mizuho raised their price target on shares of Medpace from $328.00 to $510.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Finally, William Blair reiterated a "market perform" rating on shares of Medpace in a research note on Wednesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $406.60.

Check Out Our Latest Stock Analysis on Medpace

Insider Activity at Medpace

In other news, VP Susan E. Burwig sold 7,500 shares of the business's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $450.14, for a total transaction of $3,376,050.00. Following the completion of the transaction, the vice president owned 57,500 shares of the company's stock, valued at approximately $25,883,050. The trade was a 11.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO August J. Troendle sold 48,487 shares of the company's stock in a transaction dated Monday, July 28th. The stock was 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 directly owned 962,615 shares of the company's stock, valued at $434,803,569.35. The trade was a 4.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 112,788 shares of company stock valued at $51,018,354. Company insiders own 20.30% of the company's stock.

Medpace Trading Down 1.1%

Medpace stock traded down $4.59 during mid-day trading on Friday, reaching $422.61. The company's stock had a trading volume of 319,222 shares, compared to its average volume of 462,687. The firm has a market cap of $11.87 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 2.75 and a beta of 1.47. The business has a 50 day moving average price of $330.95 and a 200-day moving average price of $323.49. Medpace Holdings, Inc. has a twelve month low of $250.05 and a twelve month high of $501.30.

Medpace (NASDAQ:MEDP - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The company reported $3.10 EPS for the quarter, topping analysts' consensus estimates of $3.00 by $0.10. Medpace had a net margin of 18.74% and a return on equity of 67.66%. The firm had revenue of $603.31 million during the quarter, compared to the consensus estimate of $537.70 million. During the same quarter in the previous year, the company posted $2.75 earnings per share. The firm's revenue was up 14.2% on a year-over-year basis. On average, equities analysts expect that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

Medpace Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Medpace (NASDAQ:MEDP)

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