Pacer Advisors Inc. Raises Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Key Points

• Pacer Advisors Inc. increased its stake in Medpace Holdings, Inc. by 79.0% during the first quarter, totaling $6.81 million with ownership of 22,345 shares.
• Medpace reported a quarterly EPS of $3.10, surpassing analysts' expectations of $3.00, with revenues of $603.31 million, marking a year-over-year increase of 14.2%.
• Analyst ratings for Medpace are mixed, with two sell ratings, eleven hold ratings, and two buy ratings, leading to an average target price of $411.10.

Pacer Advisors Inc. raised its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 79.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,345 shares of the company's stock after purchasing an additional 9,860 shares during the quarter. Pacer Advisors Inc. owned 0.08% of Medpace worth $6,808,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MEDP. Assetmark Inc. boosted its position in Medpace by 24.9% during the first quarter. Assetmark Inc. now owns 216 shares of the company's stock worth $66,000 after purchasing an additional 43 shares in the last quarter. Madison Asset Management LLC raised its stake in shares of Medpace by 39.4% in the 1st quarter. Madison Asset Management LLC now owns 9,683 shares of the company's stock valued at $2,950,000 after purchasing an additional 2,737 shares in the last quarter. Proficio Capital Partners LLC raised its position in shares of Medpace by 6.4% during the 1st quarter. Proficio Capital Partners LLC now owns 777 shares of the company's stock worth $237,000 after purchasing an additional 47 shares during the period. KLP Kapitalforvaltning AS grew its holdings in Medpace by 1.6% in the 1st quarter. KLP Kapitalforvaltning AS now owns 6,400 shares of the company's stock worth $1,950,000 after buying an additional 100 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in Medpace during the 1st quarter valued at $60,000. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MEDP shares. Mizuho upped their price objective on shares of Medpace from $328.00 to $510.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Cowen cut Medpace from a "buy" rating to a "sell" rating in a research note on Wednesday, July 23rd. UBS Group cut shares of Medpace from a "neutral" rating to a "sell" rating and boosted their price objective for the company from $300.00 to $305.00 in a research report on Tuesday. Truist Financial lifted their target price on shares of Medpace from $298.00 to $436.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. Finally, TD Cowen reiterated a "sell" rating and set a $366.00 price target (up previously from $283.00) on shares of Medpace in a research report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $406.60.

Insiders Place Their Bets

In related news, VP Susan E. Burwig sold 7,500 shares of Medpace stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $450.14, for a total value of $3,376,050.00. Following the sale, the vice president owned 57,500 shares of the company's stock, valued at approximately $25,883,050. The trade was a 11.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Jesse J. Geiger sold 41,801 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $453.11, for a total value of $18,940,451.11. Following the transaction, the president owned 36,503 shares of the company's stock, valued at approximately $16,539,874.33. The trade was a 53.38% decrease in their ownership of the stock. 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 three months. Insiders own 20.30% of the company's stock.

Medpace Stock Down 0.3%

MEDP stock traded down $1.26 during trading on Thursday, reaching $436.53. 137,895 shares of the company's stock were exchanged, compared to its average volume of 461,162. The company's fifty day moving average price is $328.27 and its 200-day moving average price is $322.97. Medpace Holdings, Inc. has a 1-year low of $250.05 and a 1-year high of $501.30. The firm has a market cap of $12.26 billion, a PE ratio of 32.52, a P/E/G ratio of 2.82 and a beta of 1.47.

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

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.