Invesco LLC decreased its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 47.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,472 shares of the company's stock after selling 1,343 shares during the period. Invesco LLC's holdings in Medpace were worth $449,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Medpace by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 2,570,770 shares of the company's stock worth $854,087,000 after buying an additional 25,704 shares during the period. Invesco Ltd. raised its stake in shares of Medpace by 91.8% during the fourth quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock valued at $360,387,000 after acquiring an additional 519,186 shares in the last quarter. Wasatch Advisors LP boosted its holdings in shares of Medpace by 3.1% in the fourth quarter. Wasatch Advisors LP now owns 936,842 shares of the company's stock valued at $311,247,000 after purchasing an additional 28,161 shares during the period. Geode Capital Management LLC grew its stake in Medpace by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 656,130 shares of the company's stock worth $218,031,000 after purchasing an additional 28,076 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in Medpace by 15.0% in the fourth quarter. Bessemer Group Inc. now owns 576,044 shares of the company's stock worth $191,379,000 after purchasing an additional 75,275 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other 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 value of $516,715.84. Following the sale, the director now owns 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 20.30% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on MEDP shares. Robert W. Baird cut their price objective on shares of Medpace from $340.00 to $313.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. William Blair reaffirmed a "market perform" rating on shares of Medpace in a research report on Tuesday, April 22nd. TD Cowen downgraded Medpace from a "buy" rating to a "hold" rating and cut their price target for the company from $370.00 to $328.00 in a report on Monday, April 14th. Leerink Partners initiated coverage on Medpace in a research note on Monday, March 24th. They set a "market perform" rating and a $330.00 price objective for the company. Finally, Barclays assumed coverage on Medpace in a research report on Tuesday. They set an "equal weight" rating and a $300.00 price objective on the stock. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $344.82.
Read Our Latest Analysis on Medpace
Medpace Price Performance
Medpace stock traded down $4.46 during trading hours on Wednesday, hitting $310.82. 47,840 shares of the stock traded hands, compared to its average volume of 368,483. The firm's 50 day moving average price is $300.15 and its 200-day moving average price is $320.83. The stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of 23.67, a P/E/G ratio of 5.57 and a beta of 1.47. Medpace Holdings, Inc. has a 1 year low of $250.05 and a 1 year high of $459.77.
Medpace (NASDAQ:MEDP - Get Free Report) last released its earnings results on Monday, April 21st. The company reported $3.67 EPS for the quarter, topping 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 firm had revenue of $558.57 million during the quarter, compared to the consensus estimate of $528.38 million. During the same quarter in the previous year, the company posted $3.20 earnings per share. Research analysts forecast that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.
About Medpace
(
Free Report)
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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