Homestead Advisers Corp Cuts Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Homestead Advisers Corp cut its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 53.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,750 shares of the company's stock after selling 6,500 shares during the quarter. Homestead Advisers Corp's holdings in Medpace were worth $1,752,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Whittier Trust Co. lifted its position in shares of Medpace by 47.3% during the first quarter. Whittier Trust Co. now owns 109 shares of the company's stock worth $33,000 after purchasing an additional 35 shares during the last quarter. Colonial Trust Co SC lifted 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 during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Medpace during the first quarter worth $60,000. Nemes Rush Group LLC bought a new stake in shares of Medpace during the fourth quarter worth $86,000. Finally, True Wealth Design LLC lifted its position in shares of Medpace by 52.7% during the fourth quarter. True Wealth Design LLC now owns 258 shares of the company's stock worth $86,000 after purchasing an additional 89 shares during the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Medpace Stock Up 49.3%

MEDP traded up $152.34 during trading on Tuesday, hitting $461.22. 2,342,900 shares of the stock were exchanged, compared to its average volume of 391,564. The firm has a market capitalization of $13.26 billion, a P/E ratio of 35.24, a PEG ratio of 5.64 and a beta of 1.47. Medpace Holdings, Inc. has a 1-year low of $250.05 and a 1-year high of $500.10. The stock has a fifty day moving average price of $307.47 and a two-hundred day moving average price of $317.86.

Medpace (NASDAQ:MEDP - Get Free Report) last released its earnings results on Monday, July 21st. The company reported $3.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.00 by $0.10. The business had revenue of $603.31 million for the quarter, compared to analyst estimates of $537.70 million. Medpace had a return on equity of 54.36% and a net margin of 19.31%. The company's revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.75 earnings per share. Analysts predict 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 dated 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 sale, the director directly owned 2,998 shares in the company, valued at $904,856.36. This represents a 36.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 20.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MEDP. Leerink Partners began coverage on Medpace in a report on Monday, March 24th. They issued a "market perform" rating and a $330.00 price objective for the company. William Blair restated a "market perform" rating on shares of Medpace in a report on Tuesday, April 22nd. TD Cowen downgraded Medpace from a "buy" rating to a "hold" rating and decreased their price objective for the company from $370.00 to $328.00 in a report on Monday, April 14th. Truist Financial reduced their target price on shares of Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Finally, Barclays initiated 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. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price 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.

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