Ethic Inc. Increases Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Ethic Inc. boosted its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 57.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 777 shares of the company’s stock after purchasing an additional 282 shares during the quarter. Ethic Inc.’s holdings in Medpace were worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. R Squared Ltd purchased a new stake in Medpace in the fourth quarter valued at approximately $30,000. SBI Securities Co. Ltd. bought a new position in Medpace during the fourth quarter valued at approximately $31,000. Jones Financial Companies Lllp grew its position in Medpace by 2,750.0% during the fourth quarter. Jones Financial Companies Lllp now owns 114 shares of the company’s stock valued at $38,000 after acquiring an additional 110 shares during the last quarter. Lindbrook Capital LLC grew its position in Medpace by 27.6% during the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company’s stock valued at $45,000 after acquiring an additional 29 shares during the last quarter. Finally, Assetmark Inc. grew its position in Medpace by 20.1% during the fourth quarter. Assetmark Inc. now owns 173 shares of the company’s stock valued at $57,000 after acquiring an additional 29 shares during the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 value of $516,715.84. Following the completion of the sale, the director now owns 2,998 shares of the company’s stock, valued at $904,856.36. This trade represents a 36.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 20.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

MEDP has been the topic of a number of recent research reports. Leerink Partners initiated coverage on shares of Medpace in a research report on Monday, March 24th. They set a “market perform” rating and a $330.00 price target on the stock. TD Cowen cut shares of Medpace from a “buy” rating to a “hold” rating and reduced their price target for the company from $370.00 to $328.00 in a research report on Monday, April 14th. Leerink Partnrs upgraded shares of Medpace to a “hold” rating in a research report on Monday, March 24th. Truist Financial reduced 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. Finally, Mizuho reduced their price target on shares of Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a research report 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. Based on data from MarketBeat, Medpace has an average rating of “Hold” and a consensus price target of $349.30.

Medpace Stock Performance

Shares of Medpace stock opened at $305.66 on Friday. Medpace Holdings, Inc. has a 52-week low of $250.05 and a 52-week high of $459.77. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 24.20, a P/E/G ratio of 3.81 and a beta of 1.55. The company’s 50 day moving average price is $304.24 and its 200-day moving average price is $327.76.

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

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.