4,140 Shares in Medpace Holdings, Inc. (NASDAQ:MEDP) Acquired by Covey Capital Advisors LLC

Covey Capital Advisors LLC bought a new position in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,140 shares of the company's stock, valued at approximately $1,261,000. Medpace makes up about 1.5% of Covey Capital Advisors LLC's portfolio, making the stock its 17th biggest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MEDP. SBI Securities Co. Ltd. purchased a new stake in Medpace during the 4th quarter valued at approximately $31,000. Jones Financial Companies Lllp grew its holdings 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 buying an additional 110 shares in the last quarter. Assetmark Inc. grew its holdings 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. Colonial Trust Co SC grew 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 in the last quarter. Finally, True Wealth Design LLC grew its holdings in shares of Medpace by 52.7% in the fourth quarter. True Wealth Design LLC now owns 258 shares of the company's stock valued at $86,000 after purchasing an additional 89 shares in the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MEDP. Leerink Partners began coverage on Medpace in a research report on Monday, March 24th. They issued a "market perform" rating and a $330.00 price target for the company. Leerink Partnrs upgraded Medpace to a "hold" rating in a research report on Monday, March 24th. Barclays started coverage on Medpace in a research report on Tuesday, June 24th. They set an "equal weight" rating and a $300.00 target price for the company. Truist Financial decreased their target price on Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Finally, TD Cowen downgraded Medpace from a "buy" rating to a "hold" rating and decreased their target price for the stock from $370.00 to $328.00 in a research report on Monday, April 14th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $344.82.

Insider Buying and Selling at Medpace

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of the business's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $301.82, for a total transaction of $516,715.84. Following the sale, the director owned 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 20.30% of the company's stock.

Medpace Price Performance

MEDP opened at $328.24 on Friday. The business's 50-day moving average is $305.25 and its two-hundred day moving average is $318.99. Medpace Holdings, Inc. has a 1 year low of $250.05 and a 1 year high of $459.77. The firm has a market capitalization of $9.43 billion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 5.77 and a beta of 1.47.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its earnings results on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $0.61. Medpace had a return on equity of 54.36% and a net margin of 19.31%. The company had revenue of $558.57 million for the quarter, compared to analyst estimates of $528.38 million. During the same quarter in the previous year, the firm earned $3.20 earnings per share. As a group, sell-side analysts expect that Medpace Holdings, Inc. will post 12.29 EPS 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.

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