Deutsche Bank AG cut its stake in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 47.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,214 shares of the company's stock after selling 5,583 shares during the period. Deutsche Bank AG's holdings in Medpace were worth $2,064,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Invesco Ltd. grew its position in shares of Medpace by 91.8% during the fourth quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock worth $360,387,000 after buying an additional 519,186 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in Medpace by 34,497.4% in the fourth quarter. Proficio Capital Partners LLC now owns 242,528 shares of the company's stock worth $80,575,000 after acquiring an additional 241,827 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Medpace during the 4th quarter worth $78,144,000. Norges Bank acquired a new position in shares of Medpace during the fourth quarter worth $69,859,000. Finally, GW&K Investment Management LLC boosted its holdings in Medpace by 93.9% in the fourth quarter. GW&K Investment Management LLC now owns 275,460 shares of the company's stock valued at $91,516,000 after purchasing an additional 133,379 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company's stock.
Insider Transactions 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 value of $516,715.84. Following the completion of the sale, the director now owns 2,998 shares in the company, valued at approximately $904,856.36. This trade represents a 36.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 20.30% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on MEDP. Robert W. Baird reduced 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. William Blair reissued a "market perform" rating on shares of Medpace in a report on Tuesday, April 22nd. Leerink Partners began coverage on shares of Medpace in a research note on Monday, March 24th. They set a "market perform" rating and a $330.00 price target on the stock. Mizuho reduced 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. Finally, 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. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $349.30.
Check Out Our Latest Analysis on Medpace
Medpace Trading Down 0.8%
Shares of MEDP traded down $2.25 during mid-day trading on Wednesday, reaching $296.35. The company had a trading volume of 20,499 shares, compared to its average volume of 417,683. Medpace Holdings, Inc. has a fifty-two week low of $250.05 and a fifty-two week high of $459.77. The firm has a fifty day simple moving average of $300.76 and a 200-day simple moving average of $325.93. The stock has a market cap of $8.52 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 3.81 and a beta of 1.55.
Medpace (NASDAQ:MEDP - Get Free Report) last issued its earnings results on Monday, April 21st. The company reported $3.67 earnings per share for the quarter, beating analysts' consensus estimates of $3.06 by $0.61. The firm had revenue of $558.57 million for 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 quarter last year, the firm earned $3.20 earnings per share. As a group, equities analysts predict that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.
Medpace Company Profile
(
Free Report)
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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