XTX Topco Ltd Acquires 2,614 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

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 increased its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 70.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,336 shares of the company's stock after buying an additional 2,614 shares during the quarter. XTX Topco Ltd's holdings in Medpace were worth $1,931,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MEDP. LPL Financial LLC boosted its holdings in shares of Medpace by 5.3% in the 4th quarter. LPL Financial LLC now owns 17,960 shares of the company's stock valued at $6,010,000 after purchasing an additional 909 shares in the last quarter. Norges Bank acquired a new stake in shares of Medpace in the 4th quarter valued at $69,859,000. Orion Portfolio Solutions LLC boosted its holdings in shares of Medpace by 347.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 4,248 shares of the company's stock valued at $1,411,000 after purchasing an additional 3,299 shares in the last quarter. HighPoint Advisor Group LLC boosted its holdings in shares of Medpace by 24.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 795 shares of the company's stock valued at $261,000 after purchasing an additional 158 shares in the last quarter. Finally, Nemes Rush Group LLC acquired a new stake in shares of Medpace in the 4th quarter valued at $86,000. Institutional investors and hedge funds own 77.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MEDP. TD Cowen reaffirmed a "sell" rating and issued a $366.00 target price (up previously from $283.00) on shares of Medpace in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft raised their target price on Medpace from $270.00 to $430.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Mizuho raised their target price on Medpace from $328.00 to $510.00 and gave the company an "outperform" rating in a report on Friday, July 25th. UBS Group cut Medpace from a "neutral" rating to a "sell" rating and increased their price target for the company from $300.00 to $305.00 in a research note on Tuesday. Finally, Robert W. Baird increased their price target on Medpace from $313.00 to $490.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $406.60.

Medpace Trading Down 1.0%

NASDAQ:MEDP traded down $4.11 during trading hours on Friday, hitting $423.09. 517,813 shares of the company were exchanged, compared to its average volume of 739,468. The stock has a market capitalization of $11.88 billion, a price-to-earnings ratio of 31.46, a price-to-earnings-growth ratio of 2.69 and a beta of 1.42. Medpace Holdings, Inc. has a one year low of $250.05 and a one year high of $501.30. The company has a fifty day simple moving average of $330.95 and a 200 day simple moving average of $323.49.

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, topping 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 return on equity of 67.66% and a net margin of 18.74%. Medpace's revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period last year, the company earned $2.75 EPS. Equities research analysts predict that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Medpace

In related news, President Jesse J. Geiger sold 41,801 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $453.11, for a total transaction of $18,940,451.11. Following the completion of the transaction, the president directly owned 36,503 shares of the company's stock, valued at $16,539,874.33. This trade represents a 53.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO August J. Troendle sold 48,487 shares of the firm'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 transaction, the chief executive officer directly owned 962,615 shares of the company's stock, valued at approximately $434,803,569.35. This represents a 4.80% decrease in their ownership of the stock. 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 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.