OMERS ADMINISTRATION Corp Cuts Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

OMERS ADMINISTRATION Corp lessened its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 51.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,350 shares of the company’s stock after selling 4,550 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Medpace were worth $1,445,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MEDP. 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 valued at $6,603,000 after buying an additional 8,275 shares in the last quarter. Claro Advisors LLC purchased a new position in Medpace during the 4th quarter valued at approximately $206,000. 180 Wealth Advisors LLC purchased a new position in Medpace during the 4th quarter valued at approximately $209,000. Assenagon Asset Management S.A. grew its holdings in Medpace by 3.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 21,715 shares of the company’s stock valued at $7,214,000 after buying an additional 793 shares in the last quarter. Finally, Park Avenue Securities LLC grew its holdings in Medpace by 39.2% during the 4th quarter. Park Avenue Securities LLC now owns 2,701 shares of the company’s stock valued at $897,000 after buying an additional 760 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Analyst Ratings Changes

MEDP has been the subject of several research analyst reports. William Blair restated a “market perform” rating on shares of Medpace in a report on Tuesday, April 22nd. Truist Financial lowered 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. Mizuho lowered 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. Robert W. Baird lowered their price objective on Medpace from $340.00 to $313.00 and set a “neutral” rating for the company in a research note on Wednesday, April 23rd. Finally, Leerink Partners initiated coverage on Medpace in a research note on Monday, March 24th. They issued a “market perform” rating and a $330.00 price objective for the company. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $349.30.

Insider Buying and Selling

In other Medpace news, Director Fred B. Davenport, Jr. sold 1,712 shares of the firm’s 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 transaction, the director now directly owns 2,998 shares in the company, valued at $904,856.36. This trade represents a 36.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 20.30% of the stock is owned by corporate insiders.

Medpace Stock Performance

Shares of MEDP stock opened at $296.41 on Friday. Medpace Holdings, Inc. has a 52-week low of $250.05 and a 52-week high of $459.77. The firm has a market capitalization 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. The stock has a 50 day moving average price of $304.65 and a 200 day moving average price of $327.86.

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

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.