Abacus FCF Advisors LLC Acquires 6,931 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Abacus FCF Advisors LLC lifted its stake in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 72.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,459 shares of the company's stock after purchasing an additional 6,931 shares during the quarter. Abacus FCF Advisors LLC owned about 0.05% of Medpace worth $5,015,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lindbrook Capital LLC increased its stake in shares of Medpace by 27.6% in the 4th 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. HBK Sorce Advisory LLC grew its holdings in shares of Medpace by 0.5% in the fourth quarter. HBK Sorce Advisory LLC now owns 5,384 shares of the company's stock valued at $1,789,000 after purchasing an additional 29 shares during the period. Assetmark Inc. grew its position in Medpace by 20.1% in the fourth quarter. Assetmark Inc. now owns 173 shares of the company's stock worth $57,000 after acquiring an additional 29 shares during the period. Proficio Capital Partners LLC boosted its stake in Medpace by 4.1% during the fourth quarter. Proficio Capital Partners LLC now owns 730 shares of the company's stock worth $243,000 after buying an additional 29 shares during the period. Finally, Schulhoff & Co. Inc. boosted its position in shares of Medpace by 1.2% during the fourth quarter. Schulhoff & Co. Inc. now owns 2,630 shares of the company's stock worth $874,000 after buying an additional 30 shares during the period. 77.98% of the stock is owned by hedge funds and other institutional investors.

Medpace Stock Performance

Shares of NASDAQ MEDP traded down $5.75 during mid-day trading on Friday, reaching $298.25. The company had a trading volume of 327,943 shares, compared to its average volume of 361,318. Medpace Holdings, Inc. has a one year low of $250.05 and a one year high of $459.77. The firm has a market cap of $8.57 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 3.81 and a beta of 1.47. The business's 50-day simple moving average is $298.43 and its 200 day simple moving average is $323.02.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $528.38 million. During the same period last year, the firm posted $3.20 earnings per share. On average, sell-side analysts anticipate that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Insider Buying and Selling

In related news, Director Fred B. Davenport, Jr. sold 1,712 shares of the business'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 transaction, the director now owns 2,998 shares in the company, valued at $904,856.36. The trade was a 36.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 20.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

MEDP has been the subject of a number of recent analyst reports. Leerink Partners started coverage on Medpace in a report on Monday, March 24th. They set a "market perform" rating and a $330.00 price target for the company. Mizuho cut their price objective on shares of Medpace from $400.00 to $355.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. TD Cowen downgraded Medpace from a "buy" rating to a "hold" rating and cut their target price for the stock from $370.00 to $328.00 in a research note on Monday, April 14th. Leerink Partnrs upgraded shares of Medpace to a "hold" rating in a report on Monday, March 24th. Finally, Robert W. Baird dropped their target price on shares of Medpace from $340.00 to $313.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target 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.