Ontario Teachers Pension Plan Board Purchases 6,592 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

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

Other large investors have also recently modified their holdings of the company. Sone Capital Management LLC acquired a new stake in shares of Medpace during the fourth quarter worth $1,318,000. GAMMA Investing LLC boosted its stake in Medpace by 37.1% during the first quarter. GAMMA Investing LLC now owns 307 shares of the company's stock worth $94,000 after acquiring an additional 83 shares in the last quarter. Fundsmith LLP bought a new position in Medpace during the fourth quarter worth $42,372,000. Park Avenue Securities LLC boosted its stake in Medpace by 1.8% during the first quarter. Park Avenue Securities LLC now owns 2,749 shares of the company's stock worth $838,000 after acquiring an additional 48 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in Medpace by 70.7% during the first quarter. UMB Bank n.a. now owns 490 shares of the company's stock worth $149,000 after acquiring an additional 203 shares in the last quarter. Institutional investors own 77.98% of the company's stock.

Medpace Trading Up 2.6%

Shares of MEDP stock traded up $11.21 during trading hours on Monday, reaching $445.56. The stock had a trading volume of 167,963 shares, compared to its average volume of 457,570. The stock's fifty day simple moving average is $347.14 and its 200 day simple moving average is $327.09. Medpace Holdings, Inc. has a 12 month low of $250.05 and a 12 month high of $501.30. The firm has a market capitalization of $12.52 billion, a PE ratio of 33.13, a PEG ratio of 2.73 and a beta of 1.42.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its earnings results on Monday, July 21st. The company reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.10. The business 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%. Medpace's revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.75 earnings per share. As a group, equities research analysts anticipate that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MEDP. Robert W. Baird raised their price objective on shares of Medpace from $313.00 to $490.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Mizuho raised their price objective on shares of Medpace from $328.00 to $510.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. 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 research 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 research report on Wednesday, July 23rd. Finally, UBS Group lowered shares of Medpace from a "neutral" rating to a "sell" rating and raised their price target for the company from $300.00 to $305.00 in a research report on Tuesday, July 29th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Medpace currently has a consensus rating of "Hold" and an average price target of $406.60.

Insider Buying and Selling

In related news, President Jesse J. Geiger sold 41,801 shares of Medpace stock in a transaction 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 transaction, the president directly owned 36,503 shares of the company's stock, valued at $16,539,874.33. The trade was a 53.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Susan E. Burwig sold 7,500 shares of the company's stock in a transaction 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 transaction, the vice president owned 57,500 shares of the company's stock, valued at $25,883,050. This trade represents a 11.54% 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 quarter. Company insiders own 20.30% of the company's stock.

Medpace Company 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.