Vulcan Value Partners LLC Purchases 224,578 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Key Points

• Vulcan Value Partners LLC significantly increased its stake in Medpace Holdings, purchasing 224,578 shares, resulting in a total of 325,916 shares, which makes up 1.9% of its investment portfolio.
• Medpace's stock recently had a target price adjustment by several brokerages, with Barclays boosting its target from $300 to $450, while TD Cowen raised theirs from $283 to $366.
• CEO August J. Troendle sold 48,487 shares for approximately $21.9 million, which reduced his ownership in the company by 4.8% amid a broader trend of insider selling totaling $51 million in the last quarter.

Vulcan Value Partners LLC increased its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 221.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 325,916 shares of the company's stock after purchasing an additional 224,578 shares during the period. Medpace comprises about 1.9% of Vulcan Value Partners LLC's investment portfolio, making the stock its 17th largest position. Vulcan Value Partners LLC owned about 1.13% of Medpace worth $99,159,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Invesco Ltd. boosted its stake in Medpace by 91.8% in the 4th quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock valued at $360,387,000 after buying an additional 519,186 shares in the last quarter. Wasatch Advisors LP boosted its stake in Medpace by 3.1% in the 4th quarter. Wasatch Advisors LP now owns 936,842 shares of the company's stock valued at $311,247,000 after buying an additional 28,161 shares in the last quarter. Mawer Investment Management Ltd. acquired a new stake in Medpace in the 1st quarter valued at $212,131,000. Geode Capital Management LLC boosted its stake in Medpace by 4.5% in the 4th 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 in the last quarter. Finally, Bessemer Group Inc. boosted its stake in Medpace by 1.1% in the 1st quarter. Bessemer Group Inc. now owns 582,269 shares of the company's stock valued at $177,411,000 after buying an additional 6,225 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on MEDP. Barclays boosted their price target on Medpace from $300.00 to $450.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 23rd. TD Cowen reaffirmed a "sell" rating and issued a $366.00 price target (up previously from $283.00) on shares of Medpace in a research note on Wednesday, July 23rd. Truist Financial boosted their price objective on Medpace from $298.00 to $436.00 and gave the stock a "hold" rating in a research note on Wednesday, July 23rd. William Blair reissued a "market perform" rating on shares of Medpace in a research note on Wednesday, July 23rd. Finally, UBS Group lowered Medpace from a "neutral" rating to a "sell" rating and boosted their price objective for the stock from $300.00 to $305.00 in a research note on Tuesday. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $406.60.

Medpace Stock Down 2.4%

MEDP stock opened at $427.20 on Friday. The company has a market cap of $12.00 billion, a P/E ratio of 31.76, a PEG ratio of 2.75 and a beta of 1.47. Medpace Holdings, Inc. has a twelve month low of $250.05 and a twelve month high of $501.30. The business has a fifty day moving average of $330.95 and a 200-day moving average of $323.49.

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 analysts' consensus estimates of $3.00 by $0.10. The company had revenue of $603.31 million during the quarter, compared to the consensus estimate of $537.70 million. Medpace had a return on equity of 67.66% and a net margin of 18.74%. The firm's quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.75 earnings per share. As a group, equities research analysts anticipate that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Insider Activity at Medpace

In related news, CEO August J. Troendle sold 48,487 shares of the company's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $451.69, for a total value of $21,901,093.03. Following the completion of the sale, the chief executive officer owned 962,615 shares in the company, valued at approximately $434,803,569.35. This represents a 4.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Stephen P. Ewald sold 3,000 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $450.00, for a total value of $1,350,000.00. Following the completion of the sale, the general counsel owned 10,343 shares of the company's stock, valued at $4,654,350. This represents a 22.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,788 shares of company stock valued at $51,018,354 over the last quarter. 20.30% of the stock is currently owned by corporate insiders.

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.

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