Ausbil Investment Management Ltd Purchases New Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Ausbil Investment Management Ltd bought a new stake in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,972 shares of the company's stock, valued at approximately $601,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of MEDP. SBI Securities Co. Ltd. purchased a new stake in Medpace during the 4th quarter valued at about $31,000. Jones Financial Companies Lllp boosted its holdings in shares of Medpace by 2,750.0% during the 4th quarter. Jones Financial Companies Lllp now owns 114 shares of the company's stock worth $38,000 after purchasing an additional 110 shares during the last quarter. Lindbrook Capital LLC grew its position in shares of 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 purchasing an additional 29 shares in the last quarter. Assetmark Inc. grew its position in shares of Medpace by 20.1% in the fourth quarter. Assetmark Inc. now owns 173 shares of the company's stock valued at $57,000 after purchasing an additional 29 shares in the last quarter. Finally, Colonial Trust Co SC increased its holdings in shares of Medpace by 150.0% in the fourth quarter. Colonial Trust Co SC now owns 175 shares of the company's stock valued at $58,000 after purchasing an additional 105 shares during the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Medpace

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of the firm'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 transaction of $516,715.84. Following the completion of the transaction, the director now directly owns 2,998 shares of the company's stock, valued at $904,856.36. This trade represents a 36.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 20.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Mizuho lowered their price objective on Medpace from $400.00 to $355.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Truist Financial lowered their price target on shares of Medpace from $333.00 to $300.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Leerink Partnrs raised shares of Medpace to a "hold" rating in a report on Monday, March 24th. Robert W. Baird reduced their target price on shares of Medpace from $340.00 to $313.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Finally, William Blair reissued a "market perform" rating on shares of Medpace in a research note on Tuesday, April 22nd. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Medpace presently has an average rating of "Hold" and a consensus price target of $344.82.

Medpace Price Performance

Shares of NASDAQ MEDP traded down $4.34 during mid-day trading on Thursday, hitting $306.80. The company had a trading volume of 377,320 shares, compared to its average volume of 371,724. The company has a market capitalization of $8.82 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 5.61 and a beta of 1.47. The business's 50-day simple moving average is $300.65 and its 200 day simple moving average is $320.45. 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 announced its quarterly earnings results on Monday, April 21st. The company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.06 by $0.61. Medpace had a net margin of 19.31% and a return on equity of 54.36%. The company had revenue of $558.57 million for the quarter, compared to analyst estimates of $528.38 million. During the same period in the prior year, the firm posted $3.20 earnings per share. On average, analysts expect that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

About Medpace

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.