Medpace Holdings, Inc. (NASDAQ:MEDP) Stake Boosted by Jackson Square Partners LLC

Key Points

• Jackson Square Partners LLC increased its stake in Medpace Holdings by 9.0%, now holding 66,559 shares valued at approximately $20.28 million, making it the fund's 14th largest position.
• Medpace reported a quarterly earnings of $3.10 EPS, exceeding analysts' estimates, with revenues of $603.31 million - a 14.2% increase year-over-year compared to the previous quarter.
• Several analysts have adjusted their price targets for Medpace, with TD Cowen setting a new target at $366, while Mizuho increased it to $510, reflecting mixed sentiments from industry experts.

Jackson Square Partners LLC grew its position in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 9.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,559 shares of the company's stock after purchasing an additional 5,514 shares during the period. Medpace comprises about 2.7% of Jackson Square Partners LLC's holdings, making the stock its 14th largest position. Jackson Square Partners LLC owned approximately 0.23% of Medpace worth $20,280,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new position in Medpace in the fourth quarter worth approximately $273,000. Aviva PLC grew its position in Medpace by 2.7% in the fourth quarter. Aviva PLC now owns 1,833 shares of the company's stock worth $609,000 after acquiring an additional 48 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Medpace by 2.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 101,727 shares of the company's stock worth $33,797,000 after purchasing an additional 2,811 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Medpace by 50.6% during the 4th quarter. Russell Investments Group Ltd. now owns 31,531 shares of the company's stock valued at $10,476,000 after purchasing an additional 10,588 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Medpace by 91.8% in the 4th quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock valued at $360,387,000 after purchasing an additional 519,186 shares during the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Medpace Stock Down 1.4%

MEDP stock opened at $430.37 on Thursday. Medpace Holdings, Inc. has a twelve month low of $250.05 and a twelve month high of $501.30. The company has a market cap of $12.09 billion, a PE ratio of 32.00, a price-to-earnings-growth ratio of 2.75 and a beta of 1.42. The business's 50-day simple moving average is $339.02 and its 200 day simple moving average is $325.40.

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 company had revenue of $603.31 million during the quarter, compared to the consensus estimate of $537.70 million. During the same period last year, the firm earned $2.75 EPS. The firm's revenue for the quarter was up 14.2% compared to the same quarter last year. On average, equities research analysts anticipate that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on MEDP shares. TD Cowen reissued a "sell" rating and set a $366.00 target price (up from $283.00) on shares of Medpace in a research report on Wednesday, July 23rd. Cowen downgraded Medpace from a "buy" rating to a "sell" rating in a report on Wednesday, July 23rd. Robert W. Baird boosted their price objective on shares of Medpace from $313.00 to $490.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Truist Financial upped their price objective on shares of Medpace from $298.00 to $436.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. Finally, Mizuho lifted their target price on shares of Medpace from $328.00 to $510.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $406.60.

Insider Transactions at Medpace

In related news, VP Susan E. Burwig sold 7,500 shares of the firm'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 sale, the vice president directly owned 57,500 shares of the company's stock, valued at $25,883,050. This trade represents a 11.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO August J. Troendle sold 48,487 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $451.69, for a total value of $21,901,093.03. Following the completion of the transaction, the chief executive officer directly owned 962,615 shares in the company, valued at approximately $434,803,569.35. This represents a 4.80% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 112,788 shares of company stock valued at $51,018,354. 20.30% of the stock is owned by company insiders.

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.

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