Cim LLC Sells 3,918 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Cim LLC trimmed its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 49.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,021 shares of the company's stock after selling 3,918 shares during the period. Cim LLC's holdings in Medpace were worth $1,336,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MEDP. Invesco Ltd. boosted its stake in shares of Medpace by 91.8% in the 4th quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock valued at $360,387,000 after purchasing an additional 519,186 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in Medpace by 34,497.4% in the 4th quarter. Proficio Capital Partners LLC now owns 242,528 shares of the company's stock valued at $80,575,000 after buying an additional 241,827 shares during the last quarter. Raymond James Financial Inc. bought a new position in Medpace in the 4th quarter valued at approximately $78,144,000. Norges Bank bought a new position in Medpace in the 4th quarter valued at approximately $69,859,000. Finally, GW&K Investment Management LLC raised its holdings in Medpace by 93.9% during the 4th quarter. GW&K Investment Management LLC now owns 275,460 shares of the company's stock worth $91,516,000 after purchasing an additional 133,379 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Medpace

In other Medpace news, Director Fred B. Davenport, Jr. sold 1,712 shares of Medpace 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 sale, the director now owns 2,998 shares of the company's stock, valued at $904,856.36. The trade was a 36.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 20.30% of the stock is owned by corporate insiders.

Medpace Price Performance

Shares of MEDP traded down $4.78 during mid-day trading on Wednesday, hitting $293.81. The stock had a trading volume of 216,833 shares, compared to its average volume of 354,007. The firm has a market cap of $8.44 billion, a P/E ratio of 23.26, a PEG ratio of 3.81 and a beta of 1.55. The business has a fifty day moving average price of $300.15 and a 200-day moving average price of $325.70. Medpace Holdings, Inc. has a 52 week low of $250.05 and a 52 week high of $459.77.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.61. The company had revenue of $558.57 million during the quarter, compared to analysts' expectations of $528.38 million. Medpace had a return on equity of 51.48% and a net margin of 19.17%. During the same period in the previous year, the business earned $3.20 earnings per share. As a group, research analysts expect that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MEDP. William Blair restated a "market perform" rating on shares of Medpace in a report on Tuesday, April 22nd. Leerink Partnrs upgraded Medpace to a "hold" rating in a report on Monday, March 24th. TD Cowen lowered Medpace from a "buy" rating to a "hold" rating and cut their price target for the stock from $370.00 to $328.00 in a report on Monday, April 14th. Truist Financial cut their price target on Medpace from $333.00 to $300.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Finally, Robert W. Baird cut their price target on Medpace from $340.00 to $313.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $349.30.

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.