Baillie Gifford & Co. Purchases 62,503 Shares of Medpace Holdings, Inc. $MEDP

Baillie Gifford & Co. boosted its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 12.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 584,796 shares of the company’s stock after buying an additional 62,503 shares during the period. Baillie Gifford & Co. owned approximately 2.08% of Medpace worth $300,679,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MEDP. Norges Bank acquired a new stake in shares of Medpace during the 2nd quarter worth approximately $66,597,000. Clarkston Capital Partners LLC acquired a new stake in shares of Medpace in the 2nd quarter valued at $40,569,000. Mawer Investment Management Ltd. increased its stake in shares of Medpace by 17.4% in the 2nd quarter. Mawer Investment Management Ltd. now owns 817,432 shares of the company’s stock valued at $256,559,000 after purchasing an additional 121,213 shares during the last quarter. Bares Capital Management Inc. raised its holdings in shares of Medpace by 319.2% during the 2nd quarter. Bares Capital Management Inc. now owns 157,084 shares of the company’s stock worth $49,302,000 after buying an additional 119,608 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Medpace by 79.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 265,270 shares of the company’s stock worth $83,258,000 after buying an additional 117,301 shares in the last quarter. 77.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, VP Susan E. Burwig sold 20,000 shares of Medpace stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $609.15, for a total value of $12,183,000.00. Following the transaction, the vice president directly owned 27,500 shares of the company’s stock, valued at $16,751,625. The trade was a 42.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO August J. Troendle sold 59,025 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $607.78, for a total value of $35,874,214.50. Following the completion of the sale, the chief executive officer owned 774,602 shares in the company, valued at $470,787,603.56. The trade was a 7.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 387,925 shares of company stock valued at $233,386,647. 20.30% of the stock is currently owned by company insiders.

Medpace Price Performance

MEDP opened at $588.05 on Friday. Medpace Holdings, Inc. has a fifty-two week low of $250.05 and a fifty-two week high of $628.92. The company’s 50 day moving average price is $583.65 and its two-hundred day moving average price is $519.88. The firm has a market capitalization of $16.57 billion, a price-to-earnings ratio of 41.12, a PEG ratio of 2.04 and a beta of 1.43.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $3.86 EPS for the quarter, topping analysts’ consensus estimates of $3.50 by $0.36. Medpace had a net margin of 18.36% and a return on equity of 91.88%. The company had revenue of $659.90 million for the quarter, compared to analyst estimates of $640.49 million. During the same quarter in the previous year, the business earned $3.01 earnings per share. Medpace’s revenue was up 23.7% compared to the same quarter last year. As a group, equities research analysts predict that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MEDP. Barclays lifted their target price on Medpace from $485.00 to $525.00 and gave the company an “underweight” rating in a research report on Monday, December 15th. Mizuho set a $660.00 price target on shares of Medpace in a research note on Friday, January 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Medpace in a research report on Friday, October 31st. TD Cowen restated a “sell” rating on shares of Medpace in a research report on Friday, October 24th. Finally, Zacks Research cut shares of Medpace from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Medpace has a consensus rating of “Reduce” and a consensus target price of $491.27.

Medpace Company Profile

Medpace Holdings, Inc (NASDAQ: MEDP) is a global contract research organization (CRO) that provides comprehensive clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports clinical trials across all phases (I–IV), offering end-to-end solutions designed to streamline the development process and accelerate the delivery of new therapies to market.

Medpace’s core service offerings include clinical pharmacology, regulatory affairs consulting, project management, central laboratory services, imaging, data management and biostatistics, pharmacovigilance and medical writing.