Cerity Partners LLC Sells 3,695 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Cerity Partners LLC trimmed its stake in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 7.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 42,984 shares of the company's stock after selling 3,695 shares during the quarter. Cerity Partners LLC owned approximately 0.15% of Medpace worth $13,097,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MEDP. Invesco Ltd. lifted its stake in Medpace by 91.8% in the 4th quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock worth $360,387,000 after acquiring an additional 519,186 shares in the last quarter. Norges Bank acquired a new position in shares of Medpace in the 4th quarter valued at about $69,859,000. Fundsmith LLP purchased a new stake in shares of Medpace in the fourth quarter worth approximately $42,372,000. Spyglass Capital Management LLC lifted its position in shares of Medpace by 85.1% in the fourth quarter. Spyglass Capital Management LLC now owns 262,660 shares of the company's stock worth $87,264,000 after purchasing an additional 120,778 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Medpace by 31.3% during the fourth quarter. AQR Capital Management LLC now owns 480,186 shares of the company's stock worth $159,532,000 after purchasing an additional 114,436 shares during the period. 77.98% of the stock is owned by institutional investors and hedge funds.

Medpace Price Performance

MEDP traded down $3.14 on Monday, hitting $320.36. The company had a trading volume of 352,586 shares, compared to its average volume of 413,640. Medpace Holdings, Inc. has a 1-year low of $250.05 and a 1-year high of $459.77. The company's fifty day moving average price is $305.61 and its 200 day moving average price is $318.52. The stock has a market cap of $9.21 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 5.85 and a beta of 1.47.

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MEDP. William Blair reiterated a "market perform" rating on shares of Medpace in a research report on Tuesday, April 22nd. Truist Financial cut their price objective on Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Leerink Partnrs upgraded Medpace to a "hold" rating in a research note on Monday, March 24th. Mizuho dropped their target price on Medpace from $400.00 to $355.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, Barclays began coverage on Medpace in a report on Tuesday, June 24th. They set an "equal weight" rating and a $300.00 price target for the company. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $344.82.

Insider Activity

In related 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 completion of the transaction, the director owned 2,998 shares of the company's stock, valued at approximately $904,856.36. The trade was a 36.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 20.30% of the company's stock.

Medpace 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.