Medpace Holdings, Inc. (NASDAQ:MEDP) Stock Position Trimmed by GW&K Investment Management LLC

GW&K Investment Management LLC trimmed its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 270,756 shares of the company's stock after selling 4,704 shares during the quarter. Medpace comprises 0.8% of GW&K Investment Management LLC's holdings, making the stock its 22nd biggest position. GW&K Investment Management LLC owned about 0.94% of Medpace worth $82,497,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Whittier Trust Co. grew its stake in shares of Medpace by 47.3% in the 1st 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 increased its position in shares of Medpace by 150.0% in the fourth quarter. Colonial Trust Co SC now owns 175 shares of the company's stock worth $58,000 after acquiring an additional 105 shares in the last quarter. True Wealth Design LLC increased its position in shares of Medpace by 52.7% in the fourth quarter. True Wealth Design LLC now owns 258 shares of the company's stock worth $86,000 after acquiring an additional 89 shares in the last quarter. Nemes Rush Group LLC purchased a new position in shares of Medpace in the fourth quarter worth approximately $86,000. Finally, GeoWealth Management LLC grew its position in Medpace by 27.8% during the fourth quarter. GeoWealth Management LLC now owns 285 shares of the company's stock valued at $95,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MEDP. 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 research note on Wednesday, April 23rd. 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 research note on Wednesday, April 9th. Barclays assumed coverage on shares of Medpace in a research note on Tuesday, June 24th. They issued an "equal weight" rating and a $300.00 price objective for the company. William Blair restated a "market perform" rating on shares of Medpace in a research note on Tuesday, April 22nd. Finally, Leerink Partners initiated coverage on shares of Medpace in a research report on Monday, March 24th. They set a "market perform" rating and a $330.00 target price on the stock. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $344.82.

Insiders Place Their Bets

In related 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 stock was sold at an average price of $301.82, for a total value of $516,715.84. Following the completion of the sale, the director owned 2,998 shares in the company, valued at $904,856.36. The trade was a 36.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 20.30% of the company's stock.

Medpace Stock Down 2.3%

MEDP stock opened at $311.87 on Monday. The company has a market cap of $8.96 billion, a PE ratio of 23.81, a price-to-earnings-growth ratio of 5.64 and a beta of 1.47. Medpace Holdings, Inc. has a 52 week low of $250.05 and a 52 week high of $440.38. The business has a 50-day simple moving average of $307.47 and a 200 day simple moving average of $317.86.

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

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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