Edgestream Partners L.P. Increases Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Edgestream Partners L.P. lifted its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 11.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,438 shares of the company's stock after buying an additional 2,139 shares during the quarter. Edgestream Partners L.P. owned approximately 0.07% of Medpace worth $6,532,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its position in shares of Medpace by 2,750.0% in the fourth quarter. Jones Financial Companies Lllp now owns 114 shares of the company's stock valued at $38,000 after acquiring an additional 110 shares in the last quarter. Colonial Trust Co SC grew 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 raised its stake in Medpace by 52.7% during the 4th quarter. True Wealth Design LLC now owns 258 shares of the company's stock valued at $86,000 after purchasing an additional 89 shares during the period. Nemes Rush Group LLC purchased a new position in Medpace in the 4th quarter worth approximately $86,000. Finally, GeoWealth Management LLC boosted its stake in Medpace by 27.8% in the 4th quarter. GeoWealth Management LLC now owns 285 shares of the company's stock worth $95,000 after purchasing an additional 62 shares during the period. Institutional investors own 77.98% of the company's stock.

Insider Buying and Selling

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

Medpace Trading Up 0.7%

Shares of NASDAQ:MEDP traded up $2.12 during trading on Wednesday, reaching $314.83. The company's stock had a trading volume of 324,337 shares, compared to its average volume of 379,165. The firm's 50 day simple moving average is $306.78 and its two-hundred day simple moving average is $318.31. Medpace Holdings, Inc. has a 12 month low of $250.05 and a 12 month high of $459.77. The stock has a market capitalization of $9.05 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 5.66 and a beta of 1.47.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $0.61. The business had revenue of $558.57 million during the quarter, compared to analyst estimates of $528.38 million. Medpace had a return on equity of 54.36% and a net margin of 19.31%. During the same period last year, the company earned $3.20 EPS. Research analysts anticipate that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MEDP has been the topic of several recent analyst reports. TD Cowen cut shares of Medpace from a "buy" rating to a "hold" rating and reduced their price objective for the company from $370.00 to $328.00 in a research report on Monday, April 14th. Robert W. Baird cut their target price on shares of Medpace from $340.00 to $313.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Barclays started coverage on shares of Medpace in a research note on Tuesday, June 24th. They issued an "equal weight" rating and a $300.00 price target on the stock. Mizuho cut their price objective on Medpace from $400.00 to $355.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Finally, Leerink Partners began coverage on Medpace in a report on Monday, March 24th. They issued a "market perform" rating and a $330.00 target price on the stock. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $344.82.

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.