Oppenheimer Asset Management Inc. Decreases Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Oppenheimer Asset Management Inc. lessened its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,351 shares of the company's stock after selling 1,110 shares during the period. Oppenheimer Asset Management Inc. owned about 0.13% of Medpace worth $11,685,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in Medpace in the fourth quarter valued at about $31,000. Jones Financial Companies Lllp grew its holdings in shares of Medpace by 2,750.0% during the fourth quarter. Jones Financial Companies Lllp now owns 114 shares of the company's stock worth $38,000 after purchasing an additional 110 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of Medpace by 27.6% during the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company's stock worth $45,000 after purchasing an additional 29 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Medpace by 20.1% during the fourth quarter. Assetmark Inc. now owns 173 shares of the company's stock worth $57,000 after purchasing an additional 29 shares during the last quarter. Finally, Colonial Trust Co SC grew its holdings in shares of Medpace by 150.0% during the fourth quarter. Colonial Trust Co SC now owns 175 shares of the company's stock worth $58,000 after purchasing an additional 105 shares during the last quarter. Institutional investors own 77.98% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on MEDP shares. Truist Financial reduced their price target on Medpace from $333.00 to $300.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Leerink Partners began coverage on Medpace in a report on Monday, March 24th. They issued a "market perform" rating and a $330.00 target price on the stock. Mizuho reduced 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. Barclays began coverage on Medpace in a report on Tuesday. They issued an "equal weight" rating and a $300.00 target price on the stock. Finally, TD Cowen cut Medpace from a "buy" rating to a "hold" rating and reduced their target price for the company from $370.00 to $328.00 in a report on Monday, April 14th. Twelve research 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 target price of $344.82.

Insider Activity at Medpace

In related news, Director Fred B. Davenport, Jr. sold 1,712 shares of the stock in a transaction 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 now directly owns 2,998 shares of the company's stock, valued at approximately $904,856.36. This represents a 36.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 20.30% of the stock is currently owned by insiders.

Medpace Price Performance

Shares of NASDAQ:MEDP traded up $6.64 during trading on Tuesday, reaching $315.28. 386,152 shares of the stock were exchanged, compared to its average volume of 369,720. Medpace Holdings, Inc. has a 1-year low of $250.05 and a 1-year high of $459.77. The stock has a fifty day moving average of $300.15 and a two-hundred day moving average of $320.83. The firm has a market cap of $9.06 billion, a price-to-earnings ratio of 24.07, a price-to-earnings-growth ratio of 5.57 and a beta of 1.47.

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

Medpace 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.