Cetera Investment Advisers Grows Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Cetera Investment Advisers boosted its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 8.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 12,032 shares of the company’s stock after buying an additional 953 shares during the period. Cetera Investment Advisers’ holdings in Medpace were worth $3,997,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Barclays PLC increased its stake in Medpace by 71.9% in the 3rd quarter. Barclays PLC now owns 19,781 shares of the company’s stock valued at $6,603,000 after purchasing an additional 8,275 shares in the last quarter. Sanctuary Advisors LLC increased its stake in Medpace by 20.5% in the 4th quarter. Sanctuary Advisors LLC now owns 4,964 shares of the company’s stock valued at $1,738,000 after purchasing an additional 844 shares in the last quarter. SYM FINANCIAL Corp purchased a new position in Medpace in the 4th quarter valued at approximately $320,000. Tokio Marine Asset Management Co. Ltd. purchased a new position in Medpace in the 4th quarter valued at approximately $9,335,000. Finally, Truist Financial Corp increased its stake in Medpace by 166.2% in the 4th quarter. Truist Financial Corp now owns 10,277 shares of the company’s stock valued at $3,414,000 after purchasing an additional 6,417 shares in the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Medpace news, Director Fred B. Davenport, Jr. sold 1,712 shares of the business’s stock in a transaction dated 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 sale, the director now owns 2,998 shares of the company’s stock, valued at approximately $904,856.36. The trade was a 36.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 20.30% of the company’s stock.

Medpace Stock Up 1.6%

Shares of NASDAQ:MEDP opened at $296.41 on Friday. The company has a market cap of $8.52 billion, a P/E ratio of 23.47, a P/E/G ratio of 3.81 and a beta of 1.55. Medpace Holdings, Inc. has a 52 week low of $250.05 and a 52 week high of $459.77. The business has a fifty day simple moving average of $304.65 and a 200-day simple moving average of $327.86.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, April 21st. The company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.06 by $0.61. The business had revenue of $558.57 million during the quarter, compared to the consensus estimate of $528.38 million. Medpace had a return on equity of 51.48% and a net margin of 19.17%. During the same quarter in the previous year, the business earned $3.20 earnings per share. Sell-side analysts expect that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MEDP has been the subject of several research analyst reports. Mizuho dropped their price objective on Medpace from $400.00 to $355.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Truist Financial dropped their price objective on Medpace from $333.00 to $300.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. Leerink Partners started coverage on Medpace in a report on Monday, March 24th. They issued a “market perform” rating and a $330.00 price target for the company. William Blair reissued a “market perform” rating on shares of Medpace in a report on Tuesday, April 22nd. Finally, Robert W. Baird cut their price target on Medpace from $340.00 to $313.00 and set a “neutral” rating for the company in a report on Wednesday, April 23rd. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $349.30.

Medpace Company 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.