Jackson Square Partners LLC Grows Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

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 increased its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 9.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 66,559 shares of the company's stock after buying an additional 5,514 shares during the quarter. Medpace comprises approximately 2.7% of Jackson Square Partners LLC's portfolio, making the stock its 14th largest position. Jackson Square Partners LLC owned about 0.23% of Medpace worth $20,280,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Sone Capital Management LLC acquired a new position in Medpace in the fourth quarter valued at $1,318,000. GAMMA Investing LLC raised its holdings 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 purchasing an additional 83 shares in the last quarter. Fundsmith LLP purchased a new position in Medpace in the fourth quarter valued at about $42,372,000. Park Avenue Securities LLC increased its holdings in Medpace by 1.8% in the first quarter. Park Avenue Securities LLC now owns 2,749 shares of the company's stock valued at $838,000 after buying an additional 48 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in shares of Medpace by 70.7% during the 1st quarter. UMB Bank n.a. now owns 490 shares of the company's stock worth $149,000 after purchasing an additional 203 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company's stock.

Medpace Trading Up 3.2%

Shares of NASDAQ MEDP traded up $13.98 during midday trading on Monday, reaching $448.33. The company's stock had a trading volume of 185,167 shares, compared to its average volume of 457,737. The stock has a market capitalization of $12.59 billion, a price-to-earnings ratio of 33.19, a PEG ratio of 2.73 and a beta of 1.42. Medpace Holdings, Inc. has a fifty-two week low of $250.05 and a fifty-two week high of $501.30. The stock has a 50 day simple moving average of $347.14 and a 200-day simple moving average of $327.09.

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. 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%. The company's revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.75 earnings per share. As a group, equities analysts anticipate that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Insiders Place Their Bets

In related news, VP Susan E. Burwig sold 7,500 shares of the business's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $450.14, for a total value of $3,376,050.00. Following the sale, the vice president directly owned 57,500 shares in the company, valued at approximately $25,883,050. The trade was a 11.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Jesse J. Geiger sold 41,801 shares of the business's stock in a transaction dated 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 sale, the president owned 36,503 shares in the company, valued at $16,539,874.33. This represents a 53.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 112,788 shares of company stock valued at $51,018,354 over the last three months. Insiders own 20.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MEDP shares. Robert W. Baird raised their target price on shares of Medpace from $313.00 to $490.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. TD Cowen reissued a "sell" rating and issued a $366.00 target price (up previously from $283.00) on shares of Medpace in a research note on Wednesday, July 23rd. Cowen downgraded shares of Medpace from a "buy" rating to a "sell" rating in a research note on Wednesday, July 23rd. Barclays lifted their price target on shares of Medpace from $300.00 to $450.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 23rd. Finally, Truist Financial boosted their target price on shares of Medpace from $298.00 to $436.00 and gave the stock a "hold" rating in a research report on Wednesday, July 23rd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Medpace presently has an average rating of "Hold" and an average price target of $406.60.

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.