Legato Capital Management LLC Trims Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Legato Capital Management LLC reduced its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 9.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,110 shares of the company’s stock after selling 115 shares during the quarter. Legato Capital Management LLC’s holdings in Medpace were worth $338,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Proficio Capital Partners LLC boosted its holdings in shares of Medpace by 6.4% during the 1st quarter. Proficio Capital Partners LLC now owns 777 shares of the company’s stock valued at $237,000 after buying an additional 47 shares in the last quarter. KLP Kapitalforvaltning AS boosted its holdings in shares of Medpace by 1.6% during the 1st quarter. KLP Kapitalforvaltning AS now owns 6,400 shares of the company’s stock valued at $1,950,000 after buying an additional 100 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Medpace during the 1st quarter valued at $60,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Medpace during the 1st quarter valued at $8,388,000. Finally, Wealth Alliance LLC boosted its holdings in shares of Medpace by 8.8% during the 1st quarter. Wealth Alliance LLC now owns 941 shares of the company’s stock valued at $287,000 after buying an additional 76 shares in the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Cowen cut shares of Medpace from a “buy” rating to a “sell” rating in a report on Wednesday. Robert W. Baird upped their price target on shares of Medpace from $313.00 to $490.00 and gave the stock a “neutral” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Medpace from $270.00 to $430.00 and gave the stock a “hold” rating in a research note on Wednesday. Barclays upped their price target on shares of Medpace from $300.00 to $450.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, TD Cowen restated a “sell” rating and set a $366.00 target price (up previously from $283.00) on shares of Medpace in a research note on Wednesday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Medpace has a consensus rating of “Hold” and a consensus target price of $411.10.

Medpace Trading Down 1.8%

Medpace stock opened at $447.49 on Friday. The firm has a 50 day moving average of $319.66 and a 200 day moving average of $321.05. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of 33.27, a P/E/G ratio of 2.91 and a beta of 1.47. Medpace Holdings, Inc. has a 12-month low of $250.05 and a 12-month high of $501.30.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, July 21st. The company reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.10. The company had revenue of $603.31 million during the quarter, compared to analyst estimates of $537.70 million. Medpace had a net margin of 18.74% and a return on equity of 67.66%. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.75 EPS. On average, analysts predict that Medpace Holdings, Inc. will post 12.29 EPS for the current 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.