Baillie Gifford & Co. Sells 10,184 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Key Points

• Baillie Gifford & Co. reduced its stake in Medpace Holdings by 70.3%, now owning 4,302 shares valued at approximately $1.31 million.
• Medpace reported earnings of $3.10 per share, exceeding analyst estimates, along with a 14.2% year-over-year revenue increase to $603.31 million.
• Analysts have varying views on Medpace, with price targets ranging from $270.00 to $490.00, and a consensus rating of "Hold."

Baillie Gifford & Co. lowered its stake in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 70.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,302 shares of the company's stock after selling 10,184 shares during the quarter. Baillie Gifford & Co.'s holdings in Medpace were worth $1,311,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MEDP. Whittier Trust Co. increased its stake in shares of Medpace by 47.3% in the 1st quarter. Whittier Trust Co. now owns 109 shares of the company's stock valued at $33,000 after acquiring an additional 35 shares in the last quarter. Colonial Trust Co SC increased its stake in Medpace by 150.0% during the 4th quarter. Colonial Trust Co SC now owns 175 shares of the company's stock valued at $58,000 after purchasing an additional 105 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Medpace during the 1st quarter valued at $60,000. Assetmark Inc. increased its stake in Medpace by 24.9% during the 1st quarter. Assetmark Inc. now owns 216 shares of the company's stock valued at $66,000 after purchasing an additional 43 shares in the last quarter. Finally, Nemes Rush Group LLC bought a new stake in Medpace during the 4th quarter valued at $86,000. Institutional investors own 77.98% of the company's stock.

Medpace Price Performance

Shares of NASDAQ MEDP traded down $2.67 during trading on Wednesday, hitting $445.25. The stock had a trading volume of 110,381 shares, compared to its average volume of 460,687. Medpace Holdings, Inc. has a 12 month low of $250.05 and a 12 month high of $501.30. The company has a market capitalization of $12.51 billion, a PE ratio of 33.10, a PEG ratio of 2.85 and a beta of 1.47. The firm has a fifty day moving average of $325.43 and a two-hundred day moving average of $322.18.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The company reported $3.10 earnings per share 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%. The firm's quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.75 EPS. On average, equities analysts expect that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MEDP shares. Mizuho boosted their price target 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. Robert W. Baird boosted their price target 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. Truist Financial boosted their price target on shares of Medpace from $298.00 to $436.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. William Blair restated a "market perform" rating on shares of Medpace in a research note on Wednesday, July 23rd. Finally, Cowen lowered shares of Medpace from a "buy" rating to a "sell" rating in a research note on Wednesday, July 23rd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Medpace presently has an average rating of "Hold" and a consensus price target of $406.60.

Insider Buying and Selling

In related news, CFO Kevin M. Brady sold 12,000 shares of the business's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $454.23, for a total value of $5,450,760.00. Following the transaction, the chief financial officer directly owned 6,000 shares of the company's stock, valued at approximately $2,725,380. The trade was a 66.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $3,376,050.00. Following the completion of the transaction, the vice president directly owned 57,500 shares in the company, 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 worth $51,018,354 in the last ninety days. Corporate insiders own 20.30% of the company's stock.

About Medpace

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.