Envestnet Asset Management Inc. Sells 7,941 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Envestnet Asset Management Inc. lessened its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 7.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 93,786 shares of the company's stock after selling 7,941 shares during the period. Envestnet Asset Management Inc. owned 0.33% of Medpace worth $28,576,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MEDP. Jones Financial Companies Lllp boosted its stake 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 worth $38,000 after acquiring an additional 110 shares during the period. Proficio Capital Partners LLC boosted its stake in shares of Medpace by 4.1% in the fourth quarter. Proficio Capital Partners LLC now owns 730 shares of the company's stock worth $243,000 after acquiring an additional 29 shares during the period. Amundi boosted its stake in shares of Medpace by 1.5% in the fourth quarter. Amundi now owns 4,303 shares of the company's stock worth $1,526,000 after acquiring an additional 65 shares during the period. Independent Advisor Alliance boosted its stake in shares of Medpace by 7.4% in the fourth quarter. Independent Advisor Alliance now owns 1,011 shares of the company's stock worth $336,000 after acquiring an additional 70 shares during the period. Finally, HighTower Advisors LLC boosted its stake in shares of Medpace by 4.7% in the fourth quarter. HighTower Advisors LLC now owns 3,140 shares of the company's stock worth $1,043,000 after acquiring an additional 142 shares during the period. Institutional investors own 77.98% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Mizuho dropped their price objective on Medpace from $400.00 to $355.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Barclays assumed coverage on Medpace in a research note on Tuesday, June 24th. They issued an "equal weight" rating and a $300.00 price objective for the company. Robert W. Baird dropped their price objective on Medpace from $340.00 to $313.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Leerink Partners started coverage on Medpace in a research note on Monday, March 24th. They set a "market perform" rating and a $330.00 price target for the company. Finally, William Blair reissued a "market perform" rating on shares of Medpace in a research note on Tuesday, April 22nd. Twelve 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, the stock currently has an average rating of "Hold" and a consensus price target of $344.82.

Insider Transactions at Medpace

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The stock was 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 of the company's stock, valued at approximately $904,856.36. This represents a 36.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 20.30% of the stock is currently owned by company insiders.

Medpace Stock Performance

MEDP stock traded down $6.42 during midday trading on Friday, reaching $312.74. 133,699 shares of the company traded hands, compared to its average volume of 378,320. Medpace Holdings, Inc. has a 52-week low of $250.05 and a 52-week high of $441.27. The business has a 50 day moving average of $307.15 and a 200-day moving average of $318.21. The firm has a market capitalization of $8.99 billion, a price-to-earnings ratio of 23.88, a P/E/G ratio of 5.69 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 (EPS) for the quarter, beating analysts' consensus estimates of $3.06 by $0.61. Medpace had a return on equity of 54.36% and a net margin of 19.31%. The business had revenue of $558.57 million for the quarter, compared to the consensus estimate of $528.38 million. During the same period in the prior year, the business posted $3.20 earnings per share. Research analysts anticipate that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

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.