Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Bought by Ontario Teachers Pension Plan Board

Key Points

• The Ontario Teachers Pension Plan Board increased its holdings in Medpace Holdings, Inc. by 86.6% during the 1st quarter, now owning 14,208 shares worth approximately $4.33 million.
• Multiple hedge funds have adjusted their positions in Medpace, with notable increases such as Vulcan Value Partners LLC increasing its stake by 221.6% during the same period.
• Analysts have mixed ratings on Medpace, with three sell ratings, ten hold ratings, and two buy ratings, while the average price target is $406.60.

Ontario Teachers Pension Plan Board lifted its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 86.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,208 shares of the company's stock after purchasing an additional 6,592 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Medpace were worth $4,329,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Mawer Investment Management Ltd. purchased a new stake in Medpace during the 1st quarter worth about $212,131,000. Invesco Ltd. grew its position in shares of Medpace by 91.8% during the fourth quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock worth $360,387,000 after buying an additional 519,186 shares in the last quarter. Vulcan Value Partners LLC increased its stake in shares of Medpace by 221.6% during the first quarter. Vulcan Value Partners LLC now owns 325,916 shares of the company's stock worth $99,159,000 after buying an additional 224,578 shares during the period. Fundsmith LLP acquired a new stake in Medpace in the fourth quarter valued at approximately $42,372,000. Finally, Spyglass Capital Management LLC lifted its stake in Medpace by 85.1% in the fourth quarter. Spyglass Capital Management LLC now owns 262,660 shares of the company's stock worth $87,264,000 after acquiring an additional 120,778 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. William Blair reissued a "market perform" rating on shares of Medpace in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Medpace from $270.00 to $430.00 and gave the stock a "hold" rating in a research note on Wednesday, July 23rd. TD Cowen reaffirmed a "sell" rating and set a $366.00 price target (up from $283.00) on shares of Medpace in a report on Wednesday, July 23rd. Robert W. Baird upped their price objective on Medpace from $313.00 to $490.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Finally, UBS Group downgraded Medpace from a "neutral" rating to a "sell" rating and increased their price objective for the company from $300.00 to $305.00 in a report on Tuesday, July 29th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $406.60.

Medpace Trading Down 1.4%

Shares of NASDAQ MEDP opened at $430.37 on Thursday. The stock has a market cap of $12.09 billion, a P/E ratio of 32.00, a P/E/G ratio of 2.75 and a beta of 1.42. The stock has a 50 day moving average of $339.02 and a two-hundred day moving average of $325.40. 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 issued its quarterly earnings results on Monday, July 21st. The company reported $3.10 earnings per share for the quarter, topping analysts' consensus estimates of $3.00 by $0.10. The firm had revenue of $603.31 million during the quarter, compared to analysts' expectations of $537.70 million. Medpace had a net margin of 18.74% and a return on equity of 67.66%. Medpace's quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.75 EPS. As a group, research analysts predict that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Insider Activity

In other Medpace news, VP Susan E. Burwig sold 7,500 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $450.14, for a total transaction 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 approximately $25,883,050. This trade represents a 11.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Jesse J. Geiger sold 41,801 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $453.11, for a total value of $18,940,451.11. Following the completion of the transaction, the president directly owned 36,503 shares in the company, valued at approximately $16,539,874.33. The trade was a 53.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 112,788 shares of company stock valued at $51,018,354. Insiders own 20.30% of the company's stock.

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.

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