Polen Capital Management LLC Buys 8,243 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Key Points

• Polen Capital Management LLC increased its stake in Medpace Holdings by 50.8%, now owning 24,466 shares valued at approximately $7.45 million.
• Insiders, including the president and CFO, recently sold significant portions of their shares, with sales totaling over $51 million in the last 90 days.
• Medpace reported $3.10 earnings per share for the last quarter, beating estimates, and the company has a market cap of $12.20 billion.

Polen Capital Management LLC raised its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 50.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,466 shares of the company's stock after purchasing an additional 8,243 shares during the period. Polen Capital Management LLC owned 0.09% of Medpace worth $7,455,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of MEDP. Sone Capital Management LLC acquired a new stake in shares of Medpace during the 4th quarter worth $1,318,000. GAMMA Investing LLC grew its holdings in Medpace by 37.1% during the 1st quarter. GAMMA Investing LLC now owns 307 shares of the company's stock worth $94,000 after acquiring an additional 83 shares in the last quarter. Fundsmith LLP acquired a new position in Medpace during the 4th quarter worth $42,372,000. Park Avenue Securities LLC boosted its holdings 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 buying an additional 48 shares during the period. Finally, UMB Bank n.a. boosted its holdings in shares of Medpace by 70.7% in the 1st quarter. UMB Bank n.a. now owns 490 shares of the company's stock valued at $149,000 after buying an additional 203 shares during the period. Hedge funds and other institutional investors own 77.98% of the company's stock.

Medpace Stock Up 2.1%

Shares of NASDAQ MEDP traded up $9.52 during mid-day trading on Tuesday, hitting $459.29. 324,452 shares of the company traded hands, compared to its average volume of 766,207. Medpace Holdings, Inc. has a 1 year low of $250.05 and a 1 year high of $501.30. The stock has a market capitalization of $12.90 billion, a price-to-earnings ratio of 34.15, a PEG ratio of 2.83 and a beta of 1.42. The business has a 50 day moving average of $353.25 and a two-hundred day moving average of $328.74.

Medpace (NASDAQ:MEDP - Get Free Report) last released its earnings results on Monday, July 21st. The company reported $3.10 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.10. The business 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% compared to the same quarter last year. During the same period last year, the firm posted $2.75 earnings per share. As a group, research analysts anticipate that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Cowen downgraded shares of Medpace from a "buy" rating to a "sell" rating in a research report on Wednesday, July 23rd. William Blair reiterated a "market perform" rating on shares of Medpace in a research report on Wednesday, July 23rd. Barclays lifted their price objective on shares of Medpace from $300.00 to $450.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Medpace from $270.00 to $430.00 and gave the company a "hold" rating in a research report on Wednesday, July 23rd. Finally, TD Cowen reiterated a "sell" rating and issued a $366.00 price objective (up from $283.00) on shares of Medpace in a research report on Wednesday, July 23rd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $406.60.

Insider Activity

In related news, CFO Kevin M. Brady sold 12,000 shares of the business's stock in a transaction that occurred on 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO August J. Troendle sold 48,487 shares of Medpace stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 962,615 shares of the company's stock, valued at $434,803,569.35. This trade represents a 4.80% 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. 20.30% of the stock is currently owned by 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.