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Summit Creek Advisors LLC Increases Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Medpace logo with Medical background

Key Points

  • Summit Creek Advisors LLC increased its stake in Medpace Holdings, Inc. by 9.3%, acquiring an additional 4,424 shares, raising its total to 52,232 shares.
  • Institutional investors collectively own 77.98% of Medpace's stock, with several firms like Whittier Trust Co. and Assetmark Inc. also increasing their holdings in the company.
  • Analysts have varying ratings on Medpace, with Barclays setting a price target of $450.00 and Mizuho raising theirs to $510.00, while two analysts maintained a sell rating amid mixed sentiments.
  • Five stocks to consider instead of Medpace.

Summit Creek Advisors LLC lifted its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 9.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,232 shares of the company's stock after buying an additional 4,424 shares during the quarter. Medpace comprises about 2.3% of Summit Creek Advisors LLC's holdings, making the stock its 19th biggest holding. Summit Creek Advisors LLC owned 0.18% of Medpace worth $15,915,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Medpace by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 2,570,770 shares of the company's stock valued at $854,087,000 after acquiring an additional 25,704 shares in the last quarter. Invesco Ltd. grew its stake in Medpace by 91.8% during the 4th quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock worth $360,387,000 after buying an additional 519,186 shares during the last quarter. Wasatch Advisors LP increased its position in Medpace by 3.1% during the fourth quarter. Wasatch Advisors LP now owns 936,842 shares of the company's stock worth $311,247,000 after buying an additional 28,161 shares during the period. Geode Capital Management LLC lifted its stake in Medpace by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 656,130 shares of the company's stock valued at $218,031,000 after buying an additional 28,076 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of Medpace by 1.1% in the first quarter. Bessemer Group Inc. now owns 582,269 shares of the company's stock valued at $177,411,000 after acquiring an additional 6,225 shares during the period. Institutional investors and hedge funds own 77.98% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Mizuho upped their price target on shares of Medpace from $328.00 to $510.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. UBS Group cut shares of Medpace from a "neutral" rating to a "sell" rating and upped their target price for the company from $300.00 to $305.00 in a report on Tuesday. Barclays increased their target price 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. Cowen cut Medpace from a "buy" rating to a "sell" rating in a research report on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Medpace from $270.00 to $430.00 and gave the stock a "hold" rating in a research report on Wednesday, July 23rd. Three 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 data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $406.60.

Read Our Latest Analysis on MEDP

Medpace Stock Down 1.7%

Shares of MEDP traded down $7.52 during trading hours on Thursday, reaching $430.26. 192,874 shares of the company traded hands, compared to its average volume of 461,504. The stock has a fifty day simple moving average of $328.27 and a 200 day simple moving average of $322.97. Medpace Holdings, Inc. has a fifty-two week low of $250.05 and a fifty-two week high of $501.30. The stock has a market capitalization of $12.09 billion, a PE ratio of 31.98, a price-to-earnings-growth ratio of 2.82 and a beta of 1.47.

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 analyst estimates of $537.70 million. Medpace had a return on equity of 67.66% and a net margin of 18.74%. The business's revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.75 EPS. Research analysts predict that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Susan E. Burwig sold 7,500 shares of Medpace stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $450.14, for a total value of $3,376,050.00. Following the transaction, the vice president directly owned 57,500 shares of the company's stock, valued at $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 is available at this link. Also, CFO Kevin M. Brady sold 12,000 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $454.23, for a total value of $5,450,760.00. Following the sale, the chief financial officer owned 6,000 shares of the company's stock, valued at $2,725,380. The trade was a 66.67% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 112,788 shares of company stock valued at $51,018,354. 20.30% of the stock is currently owned by corporate insiders.

Medpace Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Medpace (NASDAQ:MEDP)

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