Principal Financial Group Inc. Lowers Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Principal Financial Group Inc. lowered its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,936 shares of the company's stock after selling 1,322 shares during the period. Principal Financial Group Inc. owned approximately 0.20% of Medpace worth $17,653,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MEDP. SBI Securities Co. Ltd. bought a new position in shares of Medpace in the 4th quarter worth $31,000. Jones Financial Companies Lllp grew its position in 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 purchasing an additional 110 shares in the last quarter. Assetmark Inc. increased its stake in Medpace by 20.1% in the 4th quarter. Assetmark Inc. now owns 173 shares of the company's stock valued at $57,000 after buying an additional 29 shares during the last quarter. Colonial Trust Co SC lifted 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 buying an additional 105 shares in the last quarter. Finally, True Wealth Design LLC lifted its position in shares of Medpace by 52.7% during the 4th quarter. True Wealth Design LLC now owns 258 shares of the company's stock worth $86,000 after buying an additional 89 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on MEDP shares. Barclays started coverage on Medpace in a research report on Tuesday, June 24th. They set an "equal weight" rating and a $300.00 price target for the company. Leerink Partners began coverage on Medpace in a research report on Monday, March 24th. They set a "market perform" rating and a $330.00 target price for the company. Leerink Partnrs raised shares of Medpace to a "hold" rating in a report on Monday, March 24th. Robert W. Baird reduced their price target on shares of Medpace from $340.00 to $313.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Finally, Mizuho lowered their price objective 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 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, the stock presently has an average rating of "Hold" and an average target price of $344.82.

Insider Buying and Selling

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of the company's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $301.82, for a total transaction of $516,715.84. Following the sale, the director directly owned 2,998 shares in the company, valued at $904,856.36. This represents a 36.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 20.30% of the stock is currently owned by corporate insiders.

Medpace Trading Down 1.4%

Shares of NASDAQ MEDP traded down $4.74 during midday trading on Friday, hitting $323.50. The company's stock had a trading volume of 293,644 shares, compared to its average volume of 394,133. The stock has a fifty day moving average price of $305.25 and a 200 day moving average price of $318.99. The firm has a market capitalization of $9.30 billion, a price-to-earnings ratio of 25.06, a P/E/G ratio of 5.94 and a beta of 1.47. Medpace Holdings, Inc. has a one year low of $250.05 and a one year high of $459.77.

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

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.