Medpace Holdings, Inc. $MEDP Stock Acquired by Aberdeen Group plc

Key Points

• Aberdeen Group increased its Medpace stake by 5,119.5% in the third quarter, ending the period with 2.23 million shares worth about $1.39 billion—7.98% of the company.
• 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 is Hold, with an average price target of $649.27; company insiders sold 306,539 shares worth about $191.8 million in the last quarter.

Aberdeen Group plc lifted its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 5,119.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,231,252 shares of the company's stock after buying an additional 2,188,504 shares during the period. Medpace makes up approximately 1.5% of Aberdeen Group plc's investment portfolio, making the stock its 12th biggest holding. Aberdeen Group plc owned 7.98% of Medpace worth $1,392,703,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Johnson Financial Group Inc. purchased a new position in Medpace in the 2nd quarter worth $27,000. Jones Financial Companies Lllp purchased a new stake in Medpace during the 2nd quarter valued at about $30,000. Allied Private Wealth LLC acquired a new position in shares of Medpace in the second quarter valued at about $31,000. Kilter Group LLC acquired a new position in shares of Medpace in the second quarter valued at about $31,000. Finally, Gen Wealth Partners Inc acquired a new position in shares of Medpace in the third quarter valued at about $38,000. 77.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MEDP has been the subject of several research analyst reports. Truist Financial raised their price objective on Medpace from $609.00 to $633.00 and gave the stock a "hold" rating in a research note on Friday, October 23rd. TD Cowen upped their target price on Medpace from $492.00 to $673.00 and gave the company a "hold" rating in a research report on Friday, October 23rd. BMO Capital Markets increased their price target on shares of Medpace from $600.00 to $670.00 and gave the stock a "market perform" rating in a report on Monday, October 26th. Barclays lifted their price objective on shares of Medpace from $625.00 to $675.00 and gave the company an "equal weight" rating in a research note on Friday, October 23rd. Finally, Deutsche Bank reaffirmed a "hold" rating and issued a $535.00 price objective on shares of Medpace in a report on Thursday, July 23rd. 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 MarketBeat.com, Medpace currently has a consensus rating of "Hold" and an average target price of $649.27.

Medpace Stock Performance

Shares of Medpace stock opened at $653.94 on Friday. The firm has a 50-day simple moving average of $629.52 and a two-hundred day simple moving average of $533.79. The company has a market cap of $18.29 billion, a P/E ratio of 36.41, a price-to-earnings-growth ratio of 2.55 and a beta of 1.12. Medpace Holdings, Inc. has a fifty-two week low of $373.00 and a fifty-two week high of $693.97.

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

Insider Buying and Selling

In other news, CEO August J. Troendle sold 49,018 shares of the company's stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $628.11, for a total transaction of $30,788,695.98. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Susan E. Burwig sold 16,060 shares of the company's stock in a transaction that occurred 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 transaction, the vice president directly owned 57,624 shares of the company's stock, valued at approximately $39,011,448. The trade was a 21.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 306,539 shares of company stock worth $191,774,429 in the last quarter. 20.50% of the stock is currently owned by company insiders.

About Medpace

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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