CANADA LIFE ASSURANCE Co Sells 1,393 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

CANADA LIFE ASSURANCE Co cut its stake in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,807 shares of the company's stock after selling 1,393 shares during the period. CANADA LIFE ASSURANCE Co owned 0.07% of Medpace worth $6,911,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of MEDP. Pallas Capital Advisors LLC grew its stake in shares of Medpace by 179.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 3,270 shares of the company's stock valued at $1,086,000 after purchasing an additional 2,101 shares during the last quarter. Barclays PLC grew its stake in shares of Medpace by 71.9% during the third quarter. Barclays PLC now owns 19,781 shares of the company's stock valued at $6,603,000 after purchasing an additional 8,275 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Medpace by 20.5% during 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 bought a new stake in shares of Medpace during the fourth quarter valued at approximately $320,000. Finally, Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of Medpace during the fourth quarter valued at approximately $9,335,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Fred B. Davenport, Jr. sold 1,712 shares of the firm's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $301.82, for a total transaction of $516,715.84. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 20.30% of the stock is currently owned by company insiders.

Medpace Price Performance

MEDP traded down $0.37 during mid-day trading on Monday, hitting $298.18. The stock had a trading volume of 390,361 shares, compared to its average volume of 340,141. The stock's fifty day simple moving average is $312.88 and its 200-day simple moving average is $331.26. The firm has a market capitalization of $8.57 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 3.81 and a beta of 1.46. Medpace Holdings, Inc. has a 1-year low of $250.05 and a 1-year high of $459.77.

Medpace (NASDAQ:MEDP - Get Free Report) last issued 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 net margin of 19.17% and a return on equity of 51.48%. The business had revenue of $558.57 million for the quarter, compared to analyst estimates of $528.38 million. During the same period last year, the business posted $3.20 earnings per share. As a group, research analysts expect that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. TD Cowen lowered shares of Medpace from a "buy" rating to a "hold" rating and cut their price objective for the company from $370.00 to $328.00 in a report on Monday, April 14th. 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 cut their price objective on shares of Medpace from $340.00 to $313.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. William Blair restated a "market perform" rating on shares of Medpace in a report on Tuesday, April 22nd. Finally, Truist Financial cut their price objective on shares of Medpace from $333.00 to $300.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $349.30.

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.