Asio Capital LLC Invests $2.21 Million in Medpace Holdings, Inc. (NASDAQ:MEDP)

Asio Capital LLC acquired a new stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 7,264 shares of the company's stock, valued at approximately $2,213,000.

A number of other large investors also recently modified their holdings of the company. Sone Capital Management LLC acquired a new stake in shares of Medpace in the fourth quarter worth $1,318,000. Sanctuary Advisors LLC lifted its holdings in shares of Medpace by 20.5% in the 4th quarter. Sanctuary Advisors LLC now owns 4,964 shares of the company's stock worth $1,738,000 after acquiring an additional 844 shares during the last quarter. Truist Financial Corp grew its position in Medpace by 166.2% in the 4th quarter. Truist Financial Corp now owns 10,277 shares of the company's stock valued at $3,414,000 after acquiring an additional 6,417 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Medpace by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 201,046 shares of the company's stock worth $66,794,000 after purchasing an additional 2,142 shares in the last quarter. Finally, Congress Asset Management Co. boosted its position in Medpace by 14.7% in the 4th quarter. Congress Asset Management Co. now owns 53,696 shares of the company's stock valued at $17,839,000 after buying an additional 6,878 shares during the period. Hedge funds and other institutional investors own 77.98% of the company's stock.

Medpace Trading Up 1.6%

MEDP stock traded up $4.77 during trading hours on Wednesday, hitting $302.69. 656,130 shares of the stock traded hands, compared to its average volume of 364,552. The stock has a 50-day simple moving average of $299.23 and a 200 day simple moving average of $322.10. Medpace Holdings, Inc. has a one year low of $250.05 and a one year high of $459.77. The company has a market cap of $8.70 billion, a P/E ratio of 23.11, a P/E/G ratio of 5.43 and a beta of 1.47.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its earnings results on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.06 by $0.61. Medpace had a return on equity of 54.36% and a net margin of 19.31%. The business had revenue of $558.57 million for the quarter, compared to analysts' expectations of $528.38 million. During the same period in the previous year, the firm posted $3.20 EPS. Analysts forecast that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Wall Street Analyst Weigh In

MEDP has been the subject of several recent analyst reports. Leerink Partners assumed coverage on shares of Medpace in a research note on Monday, March 24th. They issued a "market perform" rating and a $330.00 target price for the company. TD Cowen lowered Medpace from a "buy" rating to a "hold" rating and lowered their price objective for the company from $370.00 to $328.00 in a report on Monday, April 14th. Truist Financial reduced their price target on Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Robert W. Baird cut their price objective on Medpace from $340.00 to $313.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Finally, Mizuho decreased their target price on shares of Medpace from $400.00 to $355.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $349.30.

Insider Activity at Medpace

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of the 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 transaction, the director now owns 2,998 shares of the company's stock, valued at approximately $904,856.36. This represents a 36.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 20.30% of the stock is currently owned by insiders.

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.