Spyglass Capital Management LLC Buys 120,778 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Spyglass Capital Management LLC boosted its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 85.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 262,660 shares of the company’s stock after purchasing an additional 120,778 shares during the quarter. Medpace comprises about 4.9% of Spyglass Capital Management LLC’s investment portfolio, making the stock its 7th largest holding. Spyglass Capital Management LLC’s holdings in Medpace were worth $87,264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of 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 buying an additional 25,704 shares in the last quarter. Invesco Ltd. boosted its stake in Medpace by 91.8% in the fourth 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 increased its position in Medpace by 3.1% during the 4th quarter. Wasatch Advisors LP now owns 936,842 shares of the company’s stock worth $311,247,000 after purchasing an additional 28,161 shares in the last quarter. Geode Capital Management LLC grew its position in Medpace by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 656,130 shares of the company’s stock worth $218,031,000 after acquiring an additional 28,076 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in Medpace by 15.0% during the 4th quarter. Bessemer Group Inc. now owns 576,044 shares of the company’s stock worth $191,379,000 after acquiring an additional 75,275 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors.

Insider Activity at Medpace

In related news, Director Fred B. Davenport, Jr. sold 1,712 shares of the company’s stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $301.82, for a total value of $516,715.84. Following the transaction, the director now directly owns 2,998 shares in the company, valued at approximately $904,856.36. This represents a 36.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 20.30% of the stock is owned by company insiders.

Medpace Trading Up 3.1%

Shares of Medpace stock opened at $305.66 on Monday. The stock has a 50 day moving average of $304.24 and a 200 day moving average of $327.86. Medpace Holdings, Inc. has a 12 month low of $250.05 and a 12 month high of $459.77. The firm has a market cap of $8.79 billion, a PE ratio of 24.20, a PEG ratio of 3.81 and a beta of 1.55.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, April 21st. The company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.06 by $0.61. Medpace had a return on equity of 51.48% and a net margin of 19.17%. The company had revenue of $558.57 million for the quarter, compared to the consensus estimate of $528.38 million. During the same quarter in the prior year, the company posted $3.20 EPS. As a group, equities research analysts forecast that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MEDP. Truist Financial cut their price target on shares of Medpace from $333.00 to $300.00 and set a “hold” rating on the stock in a research report on Wednesday, April 23rd. William Blair reissued a “market perform” rating on shares of Medpace in a research report on Tuesday, April 22nd. Robert W. Baird reduced their target price on Medpace from $340.00 to $313.00 and set a “neutral” rating for the company in a report on Wednesday, April 23rd. Leerink Partnrs raised shares of Medpace to a “hold” rating in a research report on Monday, March 24th. Finally, Mizuho lowered their price objective on Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $349.30.

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.