True Wealth Design LLC Boosts Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

True Wealth Design LLC increased its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 52.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 258 shares of the company’s stock after purchasing an additional 89 shares during the quarter. True Wealth Design LLC’s holdings in Medpace were worth $86,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Lindbrook Capital LLC lifted its stake in shares of Medpace by 27.6% in the 4th quarter. Lindbrook Capital LLC now owns 134 shares of the company’s stock valued at $45,000 after purchasing an additional 29 shares in the last quarter. HBK Sorce Advisory LLC lifted its position in Medpace by 0.5% during the 4th quarter. HBK Sorce Advisory LLC now owns 5,384 shares of the company’s stock worth $1,789,000 after acquiring an additional 29 shares in the last quarter. Assetmark Inc. lifted its position in Medpace by 20.1% during the 4th quarter. Assetmark Inc. now owns 173 shares of the company’s stock worth $57,000 after acquiring an additional 29 shares in the last quarter. Proficio Capital Partners LLC lifted its position in Medpace by 4.1% during the 4th quarter. Proficio Capital Partners LLC now owns 730 shares of the company’s stock worth $243,000 after acquiring an additional 29 shares in the last quarter. Finally, Schulhoff & Co. Inc. lifted its position in Medpace by 1.2% during the 4th quarter. Schulhoff & Co. Inc. now owns 2,630 shares of the company’s stock worth $874,000 after acquiring an additional 30 shares in the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Mizuho reduced their price target on Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. TD Cowen downgraded Medpace from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $370.00 to $328.00 in a report on Monday, April 14th. William Blair restated a “market perform” rating on shares of Medpace in a report on Tuesday, April 22nd. Truist Financial dropped their price objective on Medpace from $333.00 to $300.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Finally, Robert W. Baird dropped their price objective on Medpace from $340.00 to $313.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Medpace has a consensus rating of “Hold” and an average target price of $349.30.

Insider Buying and Selling

In other Medpace news, Director Fred B. Davenport, Jr. sold 1,712 shares of Medpace 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 transaction, the director now owns 2,998 shares in the company, valued at approximately $904,856.36. The trade was a 36.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 20.30% of the stock is owned by corporate insiders.

Medpace Stock Up 3.1%

MEDP opened at $305.66 on Friday. The firm has a market capitalization of $8.79 billion, a P/E ratio of 24.20, a price-to-earnings-growth ratio of 3.81 and a beta of 1.55. The stock’s 50 day moving average price is $304.24 and its two-hundred day moving average price is $327.76. Medpace Holdings, Inc. has a 12-month low of $250.05 and a 12-month high of $459.77.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, April 21st. The company reported $3.67 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 company had revenue of $558.57 million during the quarter, compared to the consensus estimate of $528.38 million. During the same quarter last year, the company earned $3.20 EPS. As a group, analysts anticipate that Medpace Holdings, Inc. will post 12.29 earnings per share 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.