Rhumbline Advisers Sells 1,113 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Rhumbline Advisers decreased its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 1.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,207 shares of the company's stock after selling 1,113 shares during the period. Rhumbline Advisers owned about 0.25% of Medpace worth $22,001,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lindbrook Capital LLC increased its stake 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 period. HBK Sorce Advisory LLC increased its stake in shares of Medpace by 0.5% during the fourth quarter. HBK Sorce Advisory LLC now owns 5,384 shares of the company's stock worth $1,789,000 after purchasing an additional 29 shares during the period. Assetmark Inc. increased its stake 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 period. Proficio Capital Partners LLC increased its stake in shares of Medpace by 4.1% during the fourth quarter. Proficio Capital Partners LLC now owns 730 shares of the company's stock worth $243,000 after purchasing an additional 29 shares during the period. Finally, Schulhoff & Co. Inc. increased its stake in shares of Medpace by 1.2% during the fourth quarter. Schulhoff & Co. Inc. now owns 2,630 shares of the company's stock worth $874,000 after purchasing an additional 30 shares during the period. Institutional investors own 77.98% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MEDP. Truist Financial lowered their target price on Medpace from $333.00 to $300.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Leerink Partnrs upgraded Medpace to a "hold" rating in a research note on Monday, March 24th. Mizuho reduced their price target on Medpace from $400.00 to $355.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. TD Cowen downgraded Medpace from a "buy" rating to a "hold" rating and reduced their price target for the stock from $370.00 to $328.00 in a research report on Monday, April 14th. Finally, Robert W. Baird reduced their price target on Medpace from $340.00 to $313.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $349.30.

Medpace Stock Up 1.0%

Shares of MEDP stock traded up $2.92 during trading hours on Friday, reaching $296.50. The company's stock had a trading volume of 421,400 shares, compared to its average volume of 359,731. The firm's 50 day simple moving average is $298.07 and its 200-day simple moving average is $323.93. The company has a market capitalization of $8.52 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 3.81 and a beta of 1.47. Medpace Holdings, Inc. has a fifty-two week low of $250.05 and a fifty-two week high of $459.77.

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, beating analysts' consensus estimates of $3.06 by $0.61. Medpace had a return on equity of 51.48% and a net margin of 19.17%. The firm had revenue of $558.57 million for the quarter, compared to the consensus estimate of $528.38 million. During the same quarter last year, the business posted $3.20 EPS. Sell-side analysts predict that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Insider Activity

In other 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 transaction, the director now directly owns 2,998 shares in the company, valued at approximately $904,856.36. This 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. 20.30% of the stock is owned by corporate 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.