QRG Capital Management Inc. lifted its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 10.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 13,050 shares of the company's stock after acquiring an additional 1,283 shares during the quarter. QRG Capital Management Inc.'s holdings in Medpace were worth $3,976,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in MEDP. Vontobel Holding Ltd. grew its stake in shares of Medpace by 46.6% during the 4th quarter. Vontobel Holding Ltd. now owns 2,088 shares of the company's stock worth $694,000 after acquiring an additional 664 shares during the period. Rhumbline Advisers boosted its position in Medpace by 0.8% during the fourth quarter. Rhumbline Advisers now owns 73,320 shares of the company's stock worth $24,359,000 after purchasing an additional 581 shares during the period. Principal Securities Inc. boosted its position in Medpace by 25.7% during the fourth quarter. Principal Securities Inc. now owns 367 shares of the company's stock worth $122,000 after purchasing an additional 75 shares during the period. Sanctuary Advisors LLC boosted its holdings in Medpace by 20.5% in the 4th quarter. Sanctuary Advisors LLC now owns 4,964 shares of the company's stock worth $1,738,000 after buying an additional 844 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in Medpace by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 936 shares of the company's stock worth $311,000 after buying an additional 47 shares during the period. Institutional investors own 77.98% of the company's stock.
Medpace Stock Up 2.2%
Shares of NASDAQ MEDP traded up $6.67 during mid-day trading on Friday, reaching $309.36. 953,785 shares of the company were exchanged, compared to its average volume of 368,362. Medpace Holdings, Inc. has a 52 week low of $250.05 and a 52 week high of $459.77. The stock has a market capitalization of $8.89 billion, a PE ratio of 23.62, a PEG ratio of 5.58 and a beta of 1.47. The company's 50 day moving average price is $299.87 and its 200 day moving average price is $321.31.
Medpace (NASDAQ:MEDP - Get Free Report) last released its 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. The company had revenue of $558.57 million during the quarter, compared to the consensus estimate of $528.38 million. Medpace had a return on equity of 54.36% and a net margin of 19.31%. During the same quarter in the previous year, the company posted $3.20 EPS. On average, sell-side analysts predict that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several research analysts recently commented on MEDP shares. William Blair reaffirmed a "market perform" rating on shares of Medpace in a report on Tuesday, April 22nd. TD Cowen lowered Medpace from a "buy" rating to a "hold" rating and cut their price target for the stock from $370.00 to $328.00 in a report on Monday, April 14th. Mizuho cut their target price on Medpace from $400.00 to $355.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Truist Financial cut their target price on Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Finally, Leerink Partnrs upgraded Medpace to a "hold" rating in a research note on Monday, March 24th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $349.30.
Read Our Latest Stock Analysis on MEDP
Insider Transactions at Medpace
In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $301.82, for a total value of $516,715.84. Following the completion of the sale, the director now directly owns 2,998 shares in the company, valued at approximately $904,856.36. The trade was a 36.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 20.30% of the company's stock.
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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