Townsquare Capital LLC Cuts Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Key Points

• Townsquare Capital LLC reduced its stake in Medpace Holdings by 7.1%, resulting in ownership of 11,503 shares valued at approximately $3.5 million.
• Medpace's stock price rose 1.3%, trading at around $434.35, with a twelve-month high of $501.30 and low of $250.05, while the firm recently reported earnings per share of $3.10, exceeding estimates.
• Several analysts have raised their target prices for Medpace, with Robert W. Baird increasing it to $490.00 and Mizuho to $510.00, while maintaining a consensus rating of "Hold."

Townsquare Capital LLC decreased its position in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 7.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 11,503 shares of the company's stock after selling 884 shares during the period. Townsquare Capital LLC's holdings in Medpace were worth $3,505,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Zions Bancorporation National Association UT purchased a new stake in Medpace in the first quarter worth about $2,710,000. Jackson Square Partners LLC grew its stake in shares of Medpace by 9.0% in the 1st quarter. Jackson Square Partners LLC now owns 66,559 shares of the company's stock worth $20,280,000 after buying an additional 5,514 shares during the last quarter. Headlands Technologies LLC increased its position in Medpace by 143.0% during the 1st quarter. Headlands Technologies LLC now owns 7,736 shares of the company's stock valued at $2,357,000 after buying an additional 4,553 shares in the last quarter. Deutsche Bank AG raised its stake in Medpace by 11.5% during the first quarter. Deutsche Bank AG now owns 6,927 shares of the company's stock valued at $2,111,000 after buying an additional 713 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board boosted its holdings in Medpace by 86.6% in the first quarter. Ontario Teachers Pension Plan Board now owns 14,208 shares of the company's stock worth $4,329,000 after acquiring an additional 6,592 shares in the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MEDP has been the subject of several analyst reports. Robert W. Baird raised their price target on shares of Medpace from $313.00 to $490.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. UBS Group downgraded Medpace from a "neutral" rating to a "sell" rating and lifted their price objective for the stock from $300.00 to $305.00 in a report on Tuesday, July 29th. Mizuho upped their target price 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. 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, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Medpace from $270.00 to $430.00 and gave the stock a "hold" rating in a research report 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $406.60.

Insider Transactions at Medpace

In other Medpace news, CEO August J. Troendle sold 48,487 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $451.69, for a total transaction of $21,901,093.03. Following the transaction, the chief executive officer directly owned 962,615 shares in the company, valued at $434,803,569.35. This represents a 4.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $5,450,760.00. Following the completion of the sale, the chief financial officer owned 6,000 shares of the company's stock, valued at approximately $2,725,380. This represents a 66.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 112,788 shares of company stock valued at $51,018,354 in the last ninety days. Corporate insiders own 20.30% of the company's stock.

Medpace Trading Down 2.0%

Shares of NASDAQ MEDP traded down $9.34 during midday trading on Thursday, hitting $458.66. The company's stock had a trading volume of 347,038 shares, compared to its average volume of 458,764. The business's 50 day moving average is $356.35 and its two-hundred day moving average is $329.70. Medpace Holdings, Inc. has a 12-month low of $250.05 and a 12-month high of $501.30. The firm has a market cap of $12.88 billion, a P/E ratio of 34.10, a price-to-earnings-growth ratio of 2.89 and a beta of 1.42.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its quarterly 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. Medpace had a net margin of 18.74% and a return on equity of 67.66%. The firm had revenue of $603.31 million for the quarter, compared to analysts' expectations of $537.70 million. During the same period in the prior year, the business posted $2.75 earnings per share. The business's revenue for the quarter was up 14.2% on a year-over-year basis. On average, analysts predict that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

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.