Nuveen Asset Management LLC Sells 2,044 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Nuveen Asset Management LLC trimmed its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,830 shares of the company's stock after selling 2,044 shares during the quarter. Nuveen Asset Management LLC owned 0.21% of Medpace worth $21,871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Millennium Management LLC increased its stake in shares of Medpace by 13.3% in the 4th quarter. Millennium Management LLC now owns 113,765 shares of the company's stock worth $37,796,000 after purchasing an additional 13,390 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of Medpace by 13.3% in the 4th quarter. Lazard Asset Management LLC now owns 28,110 shares of the company's stock worth $9,337,000 after purchasing an additional 3,303 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Medpace by 1,297.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 15,657 shares of the company's stock worth $5,202,000 after purchasing an additional 14,537 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Medpace by 56.9% in the 4th quarter. Janus Henderson Group PLC now owns 69,207 shares of the company's stock worth $23,002,000 after purchasing an additional 25,089 shares in the last quarter. Finally, Kensico Capital Management Corp increased its stake in shares of Medpace by 348.5% in the 4th quarter. Kensico Capital Management Corp now owns 121,100 shares of the company's stock worth $40,233,000 after purchasing an additional 94,100 shares in the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Medpace Price Performance

Shares of Medpace stock traded up $3.64 during trading on Thursday, reaching $297.45. 50,103 shares of the stock traded hands, compared to its average volume of 352,828. The company has a market capitalization of $8.55 billion, a price-to-earnings ratio of 23.55, a P/E/G ratio of 3.81 and a beta of 1.55. The business has a fifty day simple moving average of $300.15 and a two-hundred day simple moving average of $325.70. Medpace Holdings, Inc. has a 52-week low of $250.05 and a 52-week high of $459.77.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The company reported $3.67 earnings per share for the quarter, beating analysts' consensus estimates of $3.06 by $0.61. The firm had revenue of $558.57 million during 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 quarter last year, the business posted $3.20 earnings per share. On average, research analysts predict that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Fred B. Davenport, Jr. sold 1,712 shares of the stock in a transaction dated 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 transaction, the director now owns 2,998 shares of the company's stock, valued at approximately $904,856.36. This trade represents a 36.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 20.30% of the company's stock.

Analyst Upgrades and Downgrades

MEDP has been the subject of several analyst reports. TD Cowen lowered Medpace from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $370.00 to $328.00 in a research note on Monday, April 14th. Leerink Partnrs upgraded Medpace to a "hold" rating in a research note on Monday, March 24th. Robert W. Baird cut their price target on Medpace from $340.00 to $313.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Mizuho cut their price target on Medpace from $400.00 to $355.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Finally, Truist Financial cut their price target on Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Medpace currently has an average rating of "Hold" and a consensus price target of $349.30.

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.