Focus Partners Wealth Acquires 1,523 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Focus Partners Wealth increased its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 191.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,319 shares of the company's stock after purchasing an additional 1,523 shares during the quarter. Focus Partners Wealth's holdings in Medpace were worth $775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd bought a new position in shares of Medpace during the fourth quarter valued at $30,000. SBI Securities Co. Ltd. purchased a new stake in Medpace during the fourth quarter valued at $31,000. Jones Financial Companies Lllp increased its position in Medpace by 2,750.0% during 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 during the last quarter. Lindbrook Capital LLC increased its position in Medpace by 27.6% during the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company's stock valued at $45,000 after acquiring an additional 29 shares during the last quarter. Finally, Assetmark Inc. increased its position in Medpace by 20.1% during the fourth quarter. Assetmark Inc. now owns 173 shares of the company's stock valued at $57,000 after acquiring an additional 29 shares during the last quarter. 77.98% of the stock is owned by institutional investors.

Insider Activity at Medpace

In related news, Director Fred B. Davenport, Jr. sold 1,712 shares of the 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 completion of the transaction, the director now directly owns 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 20.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MEDP. Robert W. Baird reduced their price objective on Medpace from $340.00 to $313.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Leerink Partnrs upgraded Medpace to a "hold" rating in a research report on Monday, March 24th. Truist Financial reduced their price objective on Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. TD Cowen cut 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. Finally, Mizuho reduced 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. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $349.30.

Medpace Trading Up 3.1%

NASDAQ:MEDP opened at $305.66 on Monday. Medpace Holdings, Inc. has a 12-month low of $250.05 and a 12-month high of $459.77. The stock has a 50-day moving average price of $304.24 and a 200 day moving average price of $327.86. The stock has a market capitalization of $8.79 billion, a P/E ratio of 24.20, a P/E/G ratio of 3.81 and a beta of 1.55.

Medpace (NASDAQ:MEDP - Get Free Report) last released its earnings results on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.61. Medpace had a return on equity of 51.48% and a net margin of 19.17%. The firm had revenue of $558.57 million during the quarter, compared to analysts' expectations of $528.38 million. During the same quarter last year, the business posted $3.20 earnings per share. On average, research analysts predict that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Medpace Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.