Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Purchased by XTX Topco Ltd

Key Points

• XTX Topco Ltd increased its stake in Medpace Holdings, Inc. by 70.2%, owning 6,336 shares valued at approximately $1.93 million as of its latest SEC filing.
• CEO August J. Troendle sold 48,487 shares, valued at around $21.9 million, resulting in a 4.80% decrease in his ownership of the stock.
• Medpace reported a 14.2% year-over-year revenue increase with earnings of $3.10 per share, exceeding analyst expectations of $3.00.

XTX Topco Ltd raised its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 70.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,336 shares of the company's stock after buying an additional 2,614 shares during the period. XTX Topco Ltd's holdings in Medpace were worth $1,931,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MEDP. Whittier Trust Co. boosted its holdings in shares of Medpace by 47.3% during the first quarter. Whittier Trust Co. now owns 109 shares of the company's stock worth $33,000 after purchasing an additional 35 shares during the period. Assetmark Inc. raised its stake in Medpace by 24.9% in the first quarter. Assetmark Inc. now owns 216 shares of the company's stock worth $66,000 after buying an additional 43 shares in the last quarter. Proficio Capital Partners LLC raised its stake in Medpace by 6.4% in the first quarter. Proficio Capital Partners LLC now owns 777 shares of the company's stock worth $237,000 after buying an additional 47 shares in the last quarter. Aviva PLC raised its stake 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 buying an additional 48 shares in the last quarter. Finally, Park Avenue Securities LLC raised its stake in Medpace by 1.8% in the first quarter. Park Avenue Securities LLC now owns 2,749 shares of the company's stock worth $838,000 after buying an additional 48 shares in the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MEDP. Cowen downgraded shares of Medpace from a "buy" rating to a "sell" rating in a research note on Wednesday, July 23rd. Truist Financial increased their price target on shares of Medpace from $298.00 to $436.00 and gave the stock a "hold" rating in a research note on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Medpace from $270.00 to $430.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. UBS Group downgraded shares of Medpace from a "neutral" rating to a "sell" rating and raised their target price for the company from $300.00 to $305.00 in a research note on Tuesday, July 29th. Finally, Barclays raised their target price on shares of Medpace from $300.00 to $450.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 23rd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $406.60.

Medpace Trading Up 1.2%

Shares of MEDP traded up $4.92 during mid-day trading on Monday, hitting $428.01. The company's stock had a trading volume of 87,743 shares, compared to its average volume of 461,533. The firm has a market capitalization of $12.02 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 2.66 and a beta of 1.42. Medpace Holdings, Inc. has a 52-week low of $250.05 and a 52-week high of $501.30. The company's 50-day moving average is $333.51 and its 200-day moving average is $323.96.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its earnings results on Monday, July 21st. The company reported $3.10 EPS for the quarter, topping analysts' consensus estimates of $3.00 by $0.10. The company had revenue of $603.31 million for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $2.75 earnings per share. As a group, sell-side analysts predict that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Insider Activity

In other news, President Jesse J. Geiger sold 41,801 shares of the company's 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 completion of the transaction, the president owned 36,503 shares in the company, valued at approximately $16,539,874.33. This represents a 53.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Stephen P. Ewald sold 3,000 shares of the company's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the completion of the sale, the general counsel owned 10,343 shares of the company's stock, valued at approximately $4,654,350. This trade represents a 22.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold 112,788 shares of company stock worth $51,018,354 over the last 90 days. Company 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.