Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Purchased by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. increased its stake in Medpace Holdings, Inc. by 41.7% during the first quarter, acquiring an additional 7,051 shares, bringing their total holdings to 23,979 shares worth approximately $7.3 million.
• Medpace reported earnings of $3.10 per share for the last quarter, exceeding estimates, with a revenue of $603.31 million, up 14.2% year-over-year.
• Analyst ratings for Medpace show a mixed outlook, with two having a sell rating, eleven hold, and two buy, alongside a consensus price target of $411.10.

Victory Capital Management Inc. grew its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 41.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,979 shares of the company's stock after purchasing an additional 7,051 shares during the quarter. Victory Capital Management Inc. owned about 0.08% of Medpace worth $7,306,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MEDP. Invesco Ltd. boosted its holdings 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 acquiring an additional 519,186 shares during the last quarter. Norges Bank bought a new position in shares of Medpace in the fourth quarter worth approximately $69,859,000. Fundsmith LLP purchased a new stake in Medpace in the fourth quarter worth approximately $42,372,000. Spyglass Capital Management LLC boosted its stake in shares of Medpace by 85.1% during the fourth quarter. Spyglass Capital Management LLC now owns 262,660 shares of the company's stock valued at $87,264,000 after purchasing an additional 120,778 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Medpace by 31.3% during the fourth quarter. AQR Capital Management LLC now owns 480,186 shares of the company's stock valued at $159,532,000 after purchasing an additional 114,436 shares during the period. Institutional investors own 77.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Mizuho raised their target price on Medpace from $328.00 to $510.00 and gave the stock an "outperform" rating in a research report on Friday. Truist Financial raised their target price on Medpace from $298.00 to $436.00 and gave the stock a "hold" rating in a research report on Wednesday. Robert W. Baird raised their target price on Medpace from $313.00 to $490.00 and gave the stock a "neutral" rating in a research report on Wednesday. Cowen cut Medpace from a "buy" rating to a "sell" rating in a research report on Wednesday. Finally, TD Cowen reaffirmed a "sell" rating and set a $366.00 price objective (up from $283.00) on shares of Medpace in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $411.10.

Medpace Price Performance

Medpace stock traded down $8.19 during midday trading on Friday, reaching $447.49. The company's stock had a trading volume of 763,602 shares, compared to its average volume of 683,834. The stock's 50-day simple moving average is $319.66 and its 200-day simple moving average is $321.05. Medpace Holdings, Inc. has a 52-week low of $250.05 and a 52-week high of $501.30. The stock has a market capitalization of $12.57 billion, a P/E ratio of 33.27, a PEG ratio of 2.86 and a beta of 1.47.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The company reported $3.10 EPS for the quarter, beating the consensus estimate 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%. Medpace's quarterly revenue was up 14.2% compared to the same quarter last year. During the same period last year, the company earned $2.75 earnings per share. As a group, equities research analysts expect that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

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.