Harel Insurance Investments & Financial Services Ltd. Increases Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 5.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,393 shares of the company's stock after purchasing an additional 850 shares during the quarter. Harel Insurance Investments & Financial Services Ltd. owned approximately 0.06% of Medpace worth $4,995,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in MEDP. US Bancorp DE lifted its stake in Medpace by 1.7% in the fourth quarter. US Bancorp DE now owns 8,235 shares of the company's stock worth $2,736,000 after acquiring an additional 135 shares during the period. Jones Financial Companies Lllp lifted its stake in 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. SBI Securities Co. Ltd. purchased a new stake in Medpace in the fourth quarter worth about $31,000. Charles Schwab Investment Management Inc. lifted its stake in Medpace by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 201,046 shares of the company's stock worth $66,794,000 after acquiring an additional 2,142 shares during the period. Finally, Assetmark Inc. lifted its stake in Medpace by 20.1% in the fourth quarter. Assetmark Inc. now owns 173 shares of the company's stock worth $57,000 after acquiring an additional 29 shares during the period. 77.98% of the stock is owned by hedge funds and other institutional investors.

Medpace Price Performance

NASDAQ:MEDP traded down $4.53 during midday trading on Friday, hitting $321.50. The company's stock had a trading volume of 175,561 shares, compared to its average volume of 373,876. Medpace Holdings, Inc. has a fifty-two week low of $250.05 and a fifty-two week high of $459.77. The firm's 50 day moving average is $303.74 and its 200-day moving average is $319.35. The firm has a market cap of $9.24 billion, a P/E ratio of 24.54, a P/E/G ratio of 5.80 and a beta of 1.47.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.06 by $0.61. Medpace had a net margin of 19.31% and a return on equity of 54.36%. The company had revenue of $558.57 million for the quarter, compared to the consensus estimate of $528.38 million. During the same quarter in the prior year, the company earned $3.20 EPS. As a group, analysts forecast that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Insider Buying and Selling

In other Medpace 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 value of $516,715.84. Following the sale, the director owned 2,998 shares in the company, valued at approximately $904,856.36. This represents a 36.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 20.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MEDP. Leerink Partnrs upgraded shares of Medpace to a "hold" rating in a report on Monday, March 24th. William Blair reiterated a "market perform" rating on shares of Medpace in a report on Tuesday, April 22nd. TD Cowen downgraded shares of Medpace from a "buy" rating to a "hold" rating and reduced their target price for the stock from $370.00 to $328.00 in a report on Monday, April 14th. Barclays began coverage on shares of Medpace in a report on Tuesday, June 24th. They issued an "equal weight" rating and a $300.00 target price for the company. Finally, Mizuho reduced their target price on shares of Medpace from $400.00 to $355.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Medpace has an average rating of "Hold" and a consensus price target of $344.82.

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.