Moran Wealth Management LLC Makes New $5.16 Million Investment in Medpace Holdings, Inc. (NASDAQ:MEDP)

Moran Wealth Management LLC purchased a new position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 16,928 shares of the company's stock, valued at approximately $5,158,000. Moran Wealth Management LLC owned approximately 0.06% of Medpace at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Medpace during the 4th quarter worth approximately $31,000. Jones Financial Companies Lllp boosted its position 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 worth $45,000 after acquiring an additional 29 shares in the last quarter. 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 worth $57,000 after acquiring an additional 29 shares in the last quarter. Finally, Colonial Trust Co SC boosted its position in shares of Medpace by 150.0% during the 4th 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. Institutional investors and hedge funds own 77.98% of the company's stock.

Insider Buying and Selling

In related 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 transaction, the director now owns 2,998 shares of the company's stock, valued at $904,856.36. This trade 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 at the SEC website. 20.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MEDP has been the topic of several analyst reports. 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 price target on the stock. William Blair restated a "market perform" rating on shares of Medpace in a research report on Tuesday, April 22nd. Truist Financial cut their target price on shares of Medpace from $333.00 to $300.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Leerink Partnrs upgraded shares of Medpace to a "hold" rating in a research report on Monday, March 24th. Finally, Mizuho cut their target price on shares of Medpace from $400.00 to $355.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $344.82.

Medpace Stock Up 1.3%

Shares of MEDP stock traded up $3.89 during trading hours on Friday, hitting $310.69. 677,983 shares of the company's stock traded hands, compared to its average volume of 373,382. The stock's 50 day simple moving average is $300.65 and its 200 day simple moving average is $320.45. The stock has a market cap of $8.93 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 5.54 and a beta of 1.47. Medpace Holdings, Inc. has a 12 month low of $250.05 and a 12 month high of $459.77.

Medpace (NASDAQ:MEDP - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $0.61. The firm had revenue of $558.57 million during the quarter, compared to the consensus estimate of $528.38 million. Medpace had a net margin of 19.31% and a return on equity of 54.36%. During the same quarter last year, the firm earned $3.20 earnings per share. As a group, equities research analysts expect that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal 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.