Baird Financial Group Inc. Sells 11,698 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Baird Financial Group Inc. decreased its stake in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 90.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,185 shares of the company's stock after selling 11,698 shares during the period. Baird Financial Group Inc.'s holdings in Medpace were worth $394,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. R Squared Ltd purchased a new position in shares of Medpace during the 4th quarter valued at about $30,000. SBI Securities Co. Ltd. bought a new stake in Medpace in the 4th quarter worth $31,000. Jones Financial Companies Lllp raised its position in 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 purchasing an additional 110 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in Medpace by 27.6% in 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 in the last quarter. Finally, Assetmark Inc. increased its position in shares of Medpace by 20.1% during the fourth quarter. Assetmark Inc. now owns 173 shares of the company's stock valued at $57,000 after buying an additional 29 shares during the period. Hedge funds and other institutional investors own 77.98% of the company's stock.

Insiders Place Their Bets

In related news, Director Fred B. Davenport, Jr. sold 1,712 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The shares were 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 directly owns 2,998 shares in the company, valued at approximately $904,856.36. The trade was a 36.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on MEDP. Mizuho cut their price objective on shares of Medpace from $400.00 to $355.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Robert W. Baird lowered their target price on Medpace from $340.00 to $313.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Leerink Partners initiated coverage on Medpace in a report on Monday, March 24th. They issued a "market perform" rating and a $330.00 target price on the stock. Truist Financial reduced their price objective on shares of Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Finally, William Blair reaffirmed a "market perform" rating on shares of Medpace in a report on Tuesday, April 22nd. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $349.30.

Medpace Trading Up 0.1%

MEDP stock traded up $0.32 during midday trading on Monday, hitting $305.98. 188,958 shares of the company's stock were exchanged, compared to its average volume of 350,640. The business has a 50-day simple moving average of $304.24 and a two-hundred day simple moving average of $327.86. Medpace Holdings, Inc. has a 1-year low of $250.05 and a 1-year high of $459.77. The stock has a market capitalization of $8.79 billion, a PE ratio of 24.23, a P/E/G ratio of 3.81 and a beta of 1.55.

Medpace (NASDAQ:MEDP - Get Free Report) 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 business had revenue of $558.57 million during the quarter, compared to the consensus estimate of $528.38 million. During the same period in the previous year, the company posted $3.20 earnings per share. As a group, research analysts expect that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal 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.