Medpace Holdings, Inc. (NASDAQ:MEDP) Stock Holdings Lifted by Smith Group Asset Management LLC

Smith Group Asset Management LLC boosted its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 7.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,694 shares of the company's stock after acquiring an additional 5,436 shares during the quarter. Medpace accounts for 1.8% of Smith Group Asset Management LLC's portfolio, making the stock its 26th largest position. Smith Group Asset Management LLC owned about 0.28% of Medpace worth $24,282,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MEDP. Bartlett & CO. Wealth Management LLC increased its holdings in shares of Medpace by 17.5% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 343 shares of the company's stock valued at $105,000 after purchasing an additional 51 shares during the period. Bessemer Group Inc. increased its stake in Medpace by 1.1% during the 1st quarter. Bessemer Group Inc. now owns 582,269 shares of the company's stock valued at $177,411,000 after buying an additional 6,225 shares during the period. Moran Wealth Management LLC acquired a new position in Medpace during the 1st quarter valued at about $5,158,000. Sheets Smith Wealth Management raised its position in shares of Medpace by 4.6% during the 1st quarter. Sheets Smith Wealth Management now owns 3,289 shares of the company's stock worth $1,002,000 after buying an additional 144 shares in the last quarter. Finally, Ausbil Investment Management Ltd acquired a new stake in shares of Medpace in the 1st quarter worth approximately $601,000. Institutional investors own 77.98% of the company's stock.

Insiders Place Their Bets

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of the stock in a transaction that occurred on 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 sale, the director directly owned 2,998 shares of the company's stock, valued at $904,856.36. This represents a 36.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 20.30% of the stock is currently owned by company insiders.

Medpace Stock Performance

Shares of NASDAQ:MEDP traded up $3.71 during mid-day trading on Wednesday, hitting $324.78. The stock had a trading volume of 171,202 shares, compared to its average volume of 372,137. Medpace Holdings, Inc. has a 12-month low of $250.05 and a 12-month high of $459.77. The company has a market cap of $9.33 billion, a PE ratio of 24.79, a P/E/G ratio of 5.66 and a beta of 1.47. The company's 50 day moving average is $302.21 and its 200-day moving average is $319.68.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its quarterly 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. The business 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 previous year, the company posted $3.20 earnings per share. On average, equities research analysts predict that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MEDP has been the topic of several recent analyst reports. TD Cowen cut 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. William Blair reiterated a "market perform" rating on shares of Medpace in a research report on Tuesday, April 22nd. Leerink Partners initiated coverage on Medpace in a report on Monday, March 24th. They issued a "market perform" rating and a $330.00 price objective for the company. Leerink Partnrs raised Medpace to a "hold" rating in a report on Monday, March 24th. Finally, Barclays assumed coverage on shares of Medpace in a report on Tuesday, June 24th. They issued an "equal weight" rating and a $300.00 price target for the company. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Medpace currently has an average rating of "Hold" and a consensus target price of $344.82.

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.