Bank of New York Mellon Corp Has $59.91 Million Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Bank of New York Mellon Corp cut its position in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 1.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 196,631 shares of the company's stock after selling 3,350 shares during the period. Bank of New York Mellon Corp owned 0.68% of Medpace worth $59,911,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MEDP. Jones Financial Companies Lllp lifted its position in shares of Medpace by 2,750.0% during the fourth quarter. Jones Financial Companies Lllp now owns 114 shares of the company's stock worth $38,000 after purchasing an additional 110 shares in the last quarter. Assetmark Inc. lifted its position in shares of Medpace by 20.1% during the fourth quarter. Assetmark Inc. now owns 173 shares of the company's stock worth $57,000 after purchasing an additional 29 shares in the last quarter. Colonial Trust Co SC lifted its position in shares of Medpace by 150.0% during the fourth quarter. Colonial Trust Co SC now owns 175 shares of the company's stock worth $58,000 after purchasing an additional 105 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Medpace by 52.7% during the fourth quarter. True Wealth Design LLC now owns 258 shares of the company's stock worth $86,000 after purchasing an additional 89 shares in the last quarter. Finally, Nemes Rush Group LLC acquired a new position in Medpace in the fourth quarter valued at approximately $86,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Medpace Stock Performance

Shares of NASDAQ:MEDP opened at $323.50 on Friday. Medpace Holdings, Inc. has a 52 week low of $250.05 and a 52 week high of $459.77. The company has a market capitalization of $9.30 billion, a PE ratio of 24.69, a PEG ratio of 5.94 and a beta of 1.47. The company has a 50 day moving average price of $305.61 and a two-hundred day moving average price of $318.86.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $528.38 million. During the same quarter in the prior year, the firm earned $3.20 earnings per share. On average, sell-side analysts forecast that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Insider Activity

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of the 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 completion of the sale, the director owned 2,998 shares of the company's stock, valued at $904,856.36. This represents 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 available at this hyperlink. 20.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MEDP shares. 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. Leerink Partners started coverage on shares of Medpace in a report on Monday, March 24th. They issued a "market perform" rating and a $330.00 price objective on the stock. William Blair restated a "market perform" rating on shares of Medpace in a report on Tuesday, April 22nd. 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. 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. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Medpace presently has an average rating of "Hold" and an average price target of $344.82.

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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