Bank of America Corp DE Cuts Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Bank of America Corp DE lowered its stake in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 16.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 141,075 shares of the company's stock after selling 26,775 shares during the period. Bank of America Corp DE owned approximately 0.45% of Medpace worth $46,869,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC grew its holdings in Medpace by 71.9% during the third quarter. Barclays PLC now owns 19,781 shares of the company's stock worth $6,603,000 after acquiring an additional 8,275 shares during the period. Sanctuary Advisors LLC grew its holdings in Medpace by 20.5% in the fourth quarter. Sanctuary Advisors LLC now owns 4,964 shares of the company's stock valued at $1,738,000 after purchasing an additional 844 shares during the last quarter. SYM FINANCIAL Corp acquired a new stake in Medpace in the fourth quarter valued at $320,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in Medpace in the fourth quarter valued at $9,335,000. Finally, Truist Financial Corp grew its holdings in Medpace by 166.2% in the fourth quarter. Truist Financial Corp now owns 10,277 shares of the company's stock valued at $3,414,000 after purchasing an additional 6,417 shares during the last quarter. Institutional investors and hedge funds own 77.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MEDP shares. William Blair reissued a "market perform" rating on shares of Medpace in a report on Tuesday, April 22nd. Truist Financial lowered their target price on Medpace from $333.00 to $300.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. TD Cowen lowered 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 report on Monday, April 14th. Mizuho lowered their target price on Medpace from $400.00 to $355.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Finally, Leerink Partnrs upgraded Medpace to a "hold" rating in a research report on Monday, March 24th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Medpace currently has an average rating of "Hold" and an average price target of $349.30.

Medpace Trading Up 3.1%

Shares of NASDAQ:MEDP traded up $9.25 on Friday, hitting $305.66. The company had a trading volume of 239,601 shares, compared to its average volume of 351,289. The business has a 50 day moving average of $304.24 and a 200 day moving average of $327.76. Medpace Holdings, Inc. has a 52-week low of $250.05 and a 52-week high of $459.77. The company has a market cap of $8.79 billion, a PE ratio of 24.20, a PEG ratio of 3.81 and a beta of 1.55.

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

Insider Buying and Selling

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of the firm's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $301.82, for a total value of $516,715.84. Following the transaction, the director now directly owns 2,998 shares in the company, valued at $904,856.36. This trade represents a 36.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 20.30% of the stock is currently owned by company insiders.

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.