Medpace Holdings, Inc. $MEDP Shares Sold by Mawer Investment Management Ltd.

Key Points

• Mawer Investment Management cut its Medpace stake by 80.9% in the third quarter, selling 216,144 shares and retaining 51,031 shares valued at about $31.9 million. Institutional activity was mixed: Aberdeen substantially increased its holdings, and institutions overall owned 77.98% of the stock.
• Medpace reported quarterly EPS of $4.84, beating the $4.44 consensus, while revenue rose 8.5% year over year to $716 million.
• Analysts’ consensus rating was Hold, with an average price target of $649.27. Company insiders sold 306,539 shares worth about $191.8 million over the prior 90 days.

Mawer Investment Management Ltd. cut its position in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 80.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,031 shares of the company's stock after selling 216,144 shares during the quarter. Mawer Investment Management Ltd. owned about 0.18% of Medpace worth $31,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of MEDP. Diversified Trust Co bought a new position in shares of Medpace in the third quarter worth approximately $231,000. Aberdeen Group plc raised its stake in Medpace by 5,119.5% in the third quarter. Aberdeen Group plc now owns 2,231,252 shares of the company's stock valued at $1,392,703,000 after purchasing an additional 2,188,504 shares in the last quarter. Money Concepts Capital Corp bought a new stake in Medpace during the third quarter valued at approximately $209,000. Allworth Financial LP lifted its position in Medpace by 3.7% during the third quarter. Allworth Financial LP now owns 4,040 shares of the company's stock valued at $2,522,000 after purchasing an additional 146 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. lifted its position in Medpace by 23.9% during the third quarter. Eurizon Capital SGR S.p.A. now owns 405 shares of the company's stock valued at $252,000 after purchasing an additional 78 shares during the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO August J. Troendle sold 49,018 shares of the company's stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $628.11, for a total value of $30,788,695.98. Following the sale, the chief executive officer directly owned 433,372 shares of the company's stock, valued at $272,205,286.92. This represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Susan E. Burwig sold 16,060 shares of the stock in a transaction on Monday, October 26th. The stock was sold at an average price of $677.00, for a total value of $10,872,620.00. Following the completion of the transaction, the vice president owned 57,624 shares of the company's stock, valued at approximately $39,011,448. This trade represents a 21.80% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 306,539 shares of company stock valued at $191,774,429. 20.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MEDP shares. Robert W. Baird set a $699.00 price objective on shares of Medpace in a research report on Friday, October 23rd. Weiss Ratings raised shares of Medpace from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Royal Bank Of Canada upped their target price on shares of Medpace from $484.00 to $692.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. Leerink Partners set a $620.00 target price on shares of Medpace in a research report on Thursday, July 23rd. Finally, BMO Capital Markets increased their target price on Medpace from $600.00 to $670.00 and gave the company a "market perform" rating in a research note on Monday, October 26th. Three research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $649.27.

Medpace Trading Down 0.4%

Shares of MEDP stock traded down $2.90 during trading hours on Friday, reaching $653.94. The company's stock had a trading volume of 105,448 shares, compared to its average volume of 317,477. The stock has a market capitalization of $18.29 billion, a P/E ratio of 36.25, a P/E/G ratio of 2.55 and a beta of 1.12. Medpace Holdings, Inc. has a one year low of $373.00 and a one year high of $693.97. The firm's fifty day simple moving average is $629.52 and its 200 day simple moving average is $533.79.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its earnings results on Wednesday, October 21st. The company reported $4.84 EPS for the quarter, beating analysts' consensus estimates of $4.44 by $0.40. Medpace had a return on equity of 99.76% and a net margin of 18.24%. The company had revenue of $716.00 million during the quarter, compared to the consensus estimate of $714.47 million. During the same quarter in the prior year, the company earned $3.86 earnings per share. The firm's revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities research analysts forecast that Medpace Holdings, Inc. will post 18.06 earnings per share for the current fiscal year.

Medpace Company Profile

Medpace Holdings, Inc. is a global contract research organization (CRO) that provides clinical development services to the biotechnology, pharmaceutical and medical device industries. Founded in 1992 and headquartered in Cincinnati, Ohio, the company works with clients developing treatments and medical products across a range of therapeutic areas. Medpace offers services spanning the clinical development process, including clinical trial planning and management, regulatory affairs, clinical laboratory testing, data management, biostatistics, medical writing and pharmacovigilance.

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