Millennium Management LLC Grows Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Millennium Management LLC boosted its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 13.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,765 shares of the company's stock after buying an additional 13,390 shares during the quarter. Millennium Management LLC owned approximately 0.37% of Medpace worth $37,796,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MEDP. Invesco Ltd. boosted its stake in Medpace by 91.8% in the fourth quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock valued at $360,387,000 after buying an additional 519,186 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in Medpace by 34,497.4% in the fourth quarter. Proficio Capital Partners LLC now owns 242,528 shares of the company's stock valued at $80,575,000 after buying an additional 241,827 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Medpace in the fourth quarter valued at about $78,144,000. Norges Bank acquired a new stake in Medpace in the fourth quarter valued at about $69,859,000. Finally, GW&K Investment Management LLC boosted its stake in Medpace by 93.9% in the fourth quarter. GW&K Investment Management LLC now owns 275,460 shares of the company's stock valued at $91,516,000 after buying an additional 133,379 shares in the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MEDP has been the topic of a number of recent research reports. Robert W. Baird cut their price target on Medpace from $340.00 to $313.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. TD Cowen lowered 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 research note 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 target on the stock. Mizuho cut their price target on Medpace from $400.00 to $355.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, William Blair reissued a "market perform" rating on shares of Medpace in a research note on Tuesday, April 22nd. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $349.30.

Insider Buying and Selling

In other Medpace news, Director Fred B. Davenport, Jr. sold 1,712 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $301.82, for a total transaction of $516,715.84. Following the transaction, the director now directly owns 2,998 shares in the company, valued at approximately $904,856.36. This represents a 36.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 20.30% of the stock is owned by insiders.

Medpace Price Performance

Shares of Medpace stock traded up $1.86 during midday trading on Friday, reaching $294.89. The company had a trading volume of 266,217 shares, compared to its average volume of 353,489. The stock has a fifty day moving average price of $301.83 and a 200 day moving average price of $326.99. The firm has a market cap of $8.48 billion, a PE ratio of 23.35, a P/E/G ratio of 3.81 and a beta of 1.55. Medpace Holdings, Inc. has a fifty-two week low of $250.05 and a fifty-two week high of $459.77.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The company reported $3.67 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 analyst estimates of $528.38 million. Medpace had a return on equity of 51.48% and a net margin of 19.17%. During the same period in the previous year, the firm earned $3.20 earnings per share. As a group, sell-side analysts forecast that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

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.