Comerica Bank Reduces Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Comerica Bank lowered its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,352 shares of the company’s stock after selling 257 shares during the period. Comerica Bank’s holdings in Medpace were worth $3,439,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Pallas Capital Advisors LLC boosted its stake in shares of Medpace by 179.7% during the 4th quarter. Pallas Capital Advisors LLC now owns 3,270 shares of the company’s stock valued at $1,086,000 after buying an additional 2,101 shares during the last quarter. Barclays PLC grew its holdings in Medpace by 71.9% during the 3rd quarter. Barclays PLC now owns 19,781 shares of the company’s stock worth $6,603,000 after acquiring an additional 8,275 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of Medpace by 20.5% in the 4th quarter. Sanctuary Advisors LLC now owns 4,964 shares of the company’s stock worth $1,738,000 after purchasing an additional 844 shares during the last quarter. SYM FINANCIAL Corp acquired a new stake in shares of Medpace in the 4th quarter valued at about $320,000. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new position in Medpace in the fourth quarter worth about $9,335,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Price Performance

MEDP opened at $289.22 on Wednesday. The stock’s 50 day moving average price is $308.38 and its 200 day moving average price is $329.37. The stock has a market cap of $8.31 billion, a P/E ratio of 22.90, a P/E/G ratio of 3.81 and a beta of 1.55. Medpace Holdings, Inc. has a 12 month low of $250.05 and a 12 month high of $459.77.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, April 21st. The company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.06 by $0.61. The company had revenue of $558.57 million for the quarter, compared to analyst estimates of $528.38 million. Medpace had a return on equity of 51.48% and a net margin of 19.17%. During the same period last year, the company earned $3.20 earnings per share. Equities analysts anticipate that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MEDP. Mizuho reduced their target price on Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Robert W. Baird decreased their price objective on shares of 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 report on Monday, March 24th. William Blair reaffirmed a “market perform” rating on shares of Medpace in a report on Tuesday, April 22nd. Finally, TD Cowen lowered shares of Medpace from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $370.00 to $328.00 in a research note on Monday, April 14th. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $349.30.

Insider Activity at Medpace

In other Medpace news, Director Fred B. Davenport, Jr. sold 1,712 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $301.82, for a total transaction of $516,715.84. Following the completion of the transaction, the director now directly owns 2,998 shares of the company’s stock, valued at approximately $904,856.36. This trade represents a 36.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 20.30% of the company’s stock.

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.