Rice Hall James & Associates LLC Trims Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Rice Hall James & Associates LLC cut its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 1.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 103,127 shares of the company's stock after selling 1,356 shares during the period. Medpace accounts for 1.8% of Rice Hall James & Associates LLC's portfolio, making the stock its 11th biggest position. Rice Hall James & Associates LLC owned approximately 0.36% of Medpace worth $31,422,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Medpace by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 2,570,770 shares of the company's stock worth $854,087,000 after purchasing an additional 25,704 shares during the period. Invesco Ltd. grew its stake in Medpace by 91.8% in the fourth quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock worth $360,387,000 after purchasing an additional 519,186 shares during the period. Wasatch Advisors LP grew its stake in Medpace by 3.1% in the fourth quarter. Wasatch Advisors LP now owns 936,842 shares of the company's stock worth $311,247,000 after purchasing an additional 28,161 shares during the period. Geode Capital Management LLC grew its stake in Medpace by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 656,130 shares of the company's stock worth $218,031,000 after purchasing an additional 28,076 shares during the period. Finally, Bessemer Group Inc. grew its stake in Medpace by 1.1% in the first quarter. Bessemer Group Inc. now owns 582,269 shares of the company's stock worth $177,411,000 after purchasing an additional 6,225 shares during the period. 77.98% of the stock is owned by hedge funds and other institutional investors.

Medpace Price Performance

Medpace stock traded up $4.33 during mid-day trading on Thursday, reaching $319.16. 323,670 shares of the stock traded hands, compared to its average volume of 379,253. The stock has a market capitalization of $9.17 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 5.69 and a beta of 1.47. The business's 50-day moving average is $307.15 and its 200-day moving average is $318.21. Medpace Holdings, Inc. has a 12-month low of $250.05 and a 12-month high of $441.27.

Medpace (NASDAQ:MEDP - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.06 by $0.61. The business had revenue of $558.57 million during 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 period in the previous year, the company posted $3.20 EPS. Equities analysts anticipate that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MEDP shares. Robert W. Baird dropped their target price on Medpace from $340.00 to $313.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. William Blair reissued a "market perform" rating on shares of Medpace in a report on Tuesday, April 22nd. Leerink Partners started 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. TD Cowen downgraded Medpace from a "buy" rating to a "hold" rating and dropped their target price for the stock from $370.00 to $328.00 in a report on Monday, April 14th. Finally, 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. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $344.82.

Insider Buying and Selling

In other Medpace 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 value of $516,715.84. Following the completion of the sale, the director 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 through this hyperlink. 20.30% of the stock is currently owned by insiders.

About Medpace

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.