Royal Bank of Canada Raises Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Royal Bank of Canada increased its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,398 shares of the company's stock after purchasing an additional 890 shares during the period. Royal Bank of Canada owned 0.16% of Medpace worth $16,078,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. R Squared Ltd purchased a new stake in shares of Medpace in the fourth quarter worth about $30,000. SBI Securities Co. Ltd. bought a new stake in Medpace in the 4th quarter worth approximately $31,000. Jones Financial Companies Lllp raised its holdings in shares of Medpace by 2,750.0% during the 4th quarter. Jones Financial Companies Lllp now owns 114 shares of the company's stock worth $38,000 after acquiring an additional 110 shares in the last quarter. Lindbrook Capital LLC boosted its position in shares of Medpace by 27.6% during the 4th 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. boosted its position in shares of Medpace by 20.1% during the 4th 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. Hedge funds and other institutional investors own 77.98% of the company's stock.

Medpace Price Performance

Shares of MEDP traded down $0.59 during mid-day trading on Friday, reaching $296.46. The stock had a trading volume of 38,575 shares, compared to its average volume of 352,737. The business's fifty day moving average is $299.48 and its 200 day moving average is $325.24. Medpace Holdings, Inc. has a 52-week low of $250.05 and a 52-week high of $459.77. The firm has a market cap of $8.52 billion, a price-to-earnings ratio of 23.52, a P/E/G ratio of 3.81 and a beta of 1.55.

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

Insider Activity

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of Medpace stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $301.82, for a total transaction of $516,715.84. Following the completion of the sale, the director now directly owns 2,998 shares of the company's stock, valued at approximately $904,856.36. The trade was a 36.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 20.30% of the company's stock.

Wall Street Analyst Weigh In

MEDP has been the subject of several research reports. William Blair reiterated a "market perform" rating on shares of Medpace in a research report on Tuesday, April 22nd. TD Cowen lowered Medpace from a "buy" rating to a "hold" rating and dropped their price target for the stock from $370.00 to $328.00 in a research report on Monday, April 14th. Truist Financial reduced their price objective on Medpace from $333.00 to $300.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Leerink Partnrs upgraded Medpace to a "hold" rating in a research report on Monday, March 24th. Finally, Leerink Partners started coverage on Medpace in a report on Monday, March 24th. They issued a "market perform" rating and a $330.00 target price for the company. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $349.30.

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.