Invesco Ltd. Buys 102,015 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Key Points

• Invesco Ltd. has increased its stake in Medpace Holdings, Inc. by 9.4% during the first quarter, now owning 1,186,768 shares valued at approximately $361.6 million.
• Several hedge funds have adjusted their positions in Medpace, with Mawer Investment Management and Vulcan Value Partners making significant investments in the first quarter.
• Analysts have mixed ratings for Medpace, with Barclays and Deutsche Bank raising price targets significantly, while Cowen downgraded the stock from a "buy" to a "sell" rating.

Invesco Ltd. boosted its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 9.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,186,768 shares of the company's stock after buying an additional 102,015 shares during the quarter. Invesco Ltd. owned 4.13% of Medpace worth $361,596,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MEDP. Whittier Trust Co. boosted its position 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 purchasing an additional 35 shares during the period. Benjamin Edwards Inc. boosted its position in shares of Medpace by 3.1% in the 1st quarter. Benjamin Edwards Inc. now owns 1,201 shares of the company's stock valued at $366,000 after purchasing an additional 36 shares during the period. Assetmark Inc. boosted its position in shares of Medpace by 24.9% in the 1st quarter. Assetmark Inc. now owns 216 shares of the company's stock valued at $66,000 after purchasing an additional 43 shares during the period. Proficio Capital Partners LLC boosted its position in shares of Medpace by 6.4% in the 1st quarter. Proficio Capital Partners LLC now owns 777 shares of the company's stock valued at $237,000 after purchasing an additional 47 shares during the period. Finally, Park Avenue Securities LLC boosted its position in shares of Medpace by 1.8% in the 1st quarter. Park Avenue Securities LLC now owns 2,749 shares of the company's stock valued at $838,000 after purchasing an additional 48 shares during the period. Institutional investors own 77.98% of the company's stock.

Analyst Upgrades and Downgrades

MEDP has been the subject of a number of recent analyst reports. William Blair reiterated a "market perform" rating on shares of Medpace in a research report on Wednesday, July 23rd. Truist Financial increased their price target on Medpace from $298.00 to $436.00 and gave the company a "hold" rating in a research report on Wednesday, July 23rd. TD Cowen restated a "sell" rating and set a $366.00 price objective (up from $283.00) on shares of Medpace in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on Medpace from $270.00 to $430.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. Finally, UBS Group cut Medpace from a "neutral" rating to a "sell" rating and lifted their target price for the company from $300.00 to $305.00 in a research note on Tuesday, July 29th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $406.60.

Medpace Price Performance

Shares of MEDP stock traded down $0.81 during trading on Friday, reaching $457.85. The company had a trading volume of 227,324 shares, compared to its average volume of 779,522. The firm's 50 day simple moving average is $362.88 and its two-hundred day simple moving average is $331.22. Medpace Holdings, Inc. has a one year low of $250.05 and a one year high of $501.30. The company has a market capitalization of $12.86 billion, a PE ratio of 34.04, a PEG ratio of 2.89 and a beta of 1.42.

Medpace (NASDAQ:MEDP - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The company reported $3.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.00 by $0.10. The business had revenue of $603.31 million for the quarter, compared to analysts' expectations of $537.70 million. Medpace had a return on equity of 67.66% and a net margin of 18.74%. Medpace's quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.75 earnings per share. Analysts forecast that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Insider Buying and Selling at Medpace

In other news, CEO August J. Troendle sold 48,487 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $451.69, for a total transaction of $21,901,093.03. Following the transaction, the chief executive officer owned 962,615 shares of the company's stock, valued at $434,803,569.35. This represents a 4.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Jesse J. Geiger sold 41,801 shares of the company'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 of the company's stock, valued at $16,539,874.33. This represents a 53.38% decrease in their position. 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 in the last quarter. 20.30% of the stock is currently owned by corporate insiders.

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.