Clarkston Capital Partners LLC has made a significant investment in Medpace Holdings, Inc., acquiring a stake valued at approximately $40.57 million. During the second quarter of the year, the fund purchased 129,259 shares of Medpace, which trades on the NASDAQ under the ticker symbol MEDP, according to Holdings Channel.
This investment comes amidst a broader trend of institutional interest in Medpace. Numerous hedge funds and institutional investors have recently adjusted their holdings in the company. For instance, Invesco Ltd. increased its stake by 9.4% in the first quarter, now owning 1,186,768 shares valued at $361.6 million. Similarly, Mawer Investment Management Ltd. boosted its holdings by 17.4%, acquiring an additional 121,213 shares for a total valuation of $256.6 million.
AQR Capital Management LLC also increased its position by 12.4% during the first quarter, now holding 539,547 shares worth $158.5 million. TD Asset Management Inc. raised its holdings by 15.6% in the second quarter and Northern Trust Corp increased its stake by an impressive 36.0% during the first quarter. Overall, institutional investors and hedge funds currently own 77.98% of Medpace’s stock.
Current Stock Performance
On the stock market, shares of Medpace opened at $606.60 on the latest trading day. The company has a market capitalisation of $17.09 billion and a price-to-earnings (PE) ratio of 42.42. The stock has experienced significant volatility, with a fifty-two week low of $250.05 and a high of $626.26.
In terms of technical indicators, Medpace’s fifty-day moving average stands at $558.59, while its two-hundred-day moving average is $441.45.
Insider Activity and Analyst Ratings
Recent insider trading activity has also caught attention. CEO August J. Troendle sold 59,025 shares on November 24, generating approximately $35.87 million from the transaction. Following this sale, Troendle retains ownership of 774,602 shares valued at around $470.79 million, reflecting a 7.08% decrease in his total holdings.
Additionally, President Jesse J. Geiger sold 21,503 shares on November 5 for approximately $12.81 million, reducing his ownership by 58.91% to 15,000 shares valued around $8.93 million. In total, insiders have sold 310,767 shares over the last ninety days, amounting to about $185.88 million. Currently, insiders hold 20.30% of the stock.
Analysts have provided varied perspectives on Medpace’s stock. Robert W. Baird set a target price of $613.00 in their recent report, while BMO Capital Markets initiated coverage with a “market perform” rating and a target of $600.00. Other firms, such as Zacks Research, upgraded Medpace from “hold” to “strong buy,” reflecting growing optimism.
As it stands, one analyst has rated Medpace as a Strong Buy, two analysts have given it a Buy rating, ten have a Hold rating, and four have suggested a Sell rating. The consensus rating is categorized as “Hold,” with an average price target of $487.18 as reported by MarketBeat.com.
Medpace Holdings, Inc. specializes in providing outsourced clinical development services to the biotechnology, pharmaceutical, and medical device sectors. Its comprehensive range of services includes clinical trial management, regulatory affairs, patient recruitment, and data sciences, among others.
