Sunbelt Securities Inc. Sells 314 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Sunbelt Securities Inc. cut its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 43.2% in the fourth quarter, HoldingsChannel reports. The fund owned 413 shares of the company’s stock after selling 314 shares during the period. Sunbelt Securities Inc.’s holdings in Medpace were worth $138,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. R Squared Ltd bought a new position in shares of Medpace during the 4th quarter valued at approximately $30,000. SBI Securities Co. Ltd. bought a new position in shares of Medpace during the 4th quarter valued at approximately $31,000. Jones Financial Companies Lllp grew its stake in shares of Medpace by 2,750.0% during the 4th 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 period. Lindbrook Capital LLC grew its stake in shares of Medpace by 27.6% during the 4th 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 period. Finally, Assetmark Inc. grew its stake in shares of Medpace by 20.1% during the 4th quarter. Assetmark Inc. now owns 173 shares of the company’s stock valued at $57,000 after acquiring an additional 29 shares during the period. 77.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on MEDP shares. 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 target for the company. William Blair reiterated a “market perform” rating on shares of Medpace in a research report on Tuesday, April 22nd. Robert W. Baird lowered their target price on Medpace from $340.00 to $313.00 and set a “neutral” rating for the company in a research report on Wednesday, April 23rd. Truist Financial lowered their target price on Medpace from $333.00 to $300.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Finally, TD Cowen downgraded Medpace from a “buy” rating to a “hold” rating and lowered their target price for the company from $370.00 to $328.00 in a research report on Monday, April 14th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $349.30.

Medpace Stock Performance

NASDAQ:MEDP opened at $294.89 on Tuesday. The stock’s fifty day moving average is $301.18 and its 200 day moving average is $326.12. Medpace Holdings, Inc. has a fifty-two week low of $250.05 and a fifty-two week high of $459.77. The firm has a market capitalization of $8.48 billion, a PE ratio of 23.35, a PEG ratio of 3.81 and a beta of 1.55.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, April 21st. The company reported $3.67 earnings per share 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 business had revenue of $558.57 million for the quarter, compared to analyst estimates of $528.38 million. During the same quarter last year, the firm posted $3.20 earnings per share. Equities analysts forecast that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Insiders Place Their Bets

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 value of $516,715.84. Following the sale, the director now owns 2,998 shares in the company, valued at $904,856.36. This trade represents a 36.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 20.30% of the company’s stock.

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.