Novem Group Takes $718,000 Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Novem Group purchased a new stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,161 shares of the company's stock, valued at approximately $718,000.

Several other institutional investors and hedge funds have also made changes to their positions in MEDP. R Squared Ltd acquired a new stake in Medpace during the 4th quarter valued at $30,000. SBI Securities Co. Ltd. acquired a new position in Medpace during the 4th quarter valued at $31,000. Jones Financial Companies Lllp lifted its position in shares of Medpace by 2,750.0% in 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 during the period. Lindbrook Capital LLC grew its stake in shares of Medpace by 27.6% in the 4th quarter. Lindbrook Capital LLC now owns 134 shares of the company's stock valued at $45,000 after purchasing an additional 29 shares during the period. Finally, Assetmark Inc. lifted its holdings in Medpace by 20.1% during the 4th quarter. Assetmark Inc. now owns 173 shares of the company's stock valued at $57,000 after purchasing an additional 29 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors.

Medpace Trading Up 1.3%

NASDAQ:MEDP traded up $3.73 during mid-day trading on Tuesday, hitting $298.62. The stock had a trading volume of 44,479 shares, compared to its average volume of 353,238. The stock has a 50-day simple moving average of $301.18 and a two-hundred day simple moving average of $326.12. The company has a market capitalization of $8.58 billion, a PE ratio of 23.65, a PEG ratio of 3.81 and a beta of 1.55. Medpace Holdings, Inc. has a twelve month low of $250.05 and a twelve 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 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 19.17% and a return on equity of 51.48%. During the same quarter in the prior year, the firm earned $3.20 EPS. Sell-side analysts predict that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MEDP shares. Truist Financial decreased their target price on Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Mizuho dropped their target price on Medpace from $400.00 to $355.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Leerink Partnrs raised shares of Medpace to a "hold" rating in a research note on Monday, March 24th. William Blair reissued a "market perform" rating on shares of Medpace in a report on Tuesday, April 22nd. Finally, Robert W. Baird dropped their price objective on shares of Medpace from $340.00 to $313.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $349.30.

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 transaction, the director now owns 2,998 shares in the company, valued at approximately $904,856.36. The trade was a 36.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 20.30% of the stock is currently owned by company insiders.

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.