Sone Capital Management LLC Buys Shares of 3,968 Medpace Holdings, Inc. (NASDAQ:MEDP)

Sone Capital Management LLC bought a new position in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,968 shares of the company's stock, valued at approximately $1,318,000.

A number of other hedge funds also recently made changes to their positions in the company. Spyglass Capital Management LLC lifted its position in shares of Medpace by 85.1% in the fourth quarter. Spyglass Capital Management LLC now owns 262,660 shares of the company's stock worth $87,264,000 after buying an additional 120,778 shares in the last quarter. Two Sigma Advisers LP raised its position in Medpace by 12.8% during the fourth quarter. Two Sigma Advisers LP now owns 212,500 shares of the company's stock valued at $70,599,000 after purchasing an additional 24,100 shares during the period. Two Sigma Investments LP raised its position in Medpace by 5.8% during the fourth quarter. Two Sigma Investments LP now owns 154,505 shares of the company's stock valued at $51,331,000 after purchasing an additional 8,476 shares during the period. Teza Capital Management LLC raised its position in Medpace by 10.5% during the fourth quarter. Teza Capital Management LLC now owns 1,633 shares of the company's stock valued at $543,000 after purchasing an additional 155 shares during the period. Finally, True Wealth Design LLC raised its position in Medpace by 52.7% during the fourth quarter. True Wealth Design LLC now owns 258 shares of the company's stock valued at $86,000 after purchasing an additional 89 shares during the period. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MEDP. Leerink Partners began coverage on Medpace in a research report on Monday, March 24th. They set a "market perform" rating and a $330.00 price objective on the stock. 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 report on Monday, April 14th. Leerink Partnrs upgraded Medpace to a "hold" rating in a report on Monday, March 24th. William Blair reiterated a "market perform" rating on shares of Medpace in a report on Tuesday, April 22nd. Finally, 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. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Medpace presently has a consensus rating of "Hold" and a consensus target price of $349.30.

Medpace Price Performance

MEDP traded up $1.86 during trading hours on Friday, reaching $294.89. The company's stock had a trading volume of 266,217 shares, compared to its average volume of 353,489. Medpace Holdings, Inc. has a fifty-two week low of $250.05 and a fifty-two week high of $459.77. The stock has a market cap of $8.48 billion, a PE ratio of 23.35, a P/E/G ratio of 3.81 and a beta of 1.55. The business's 50-day moving average is $301.83 and its 200-day moving average is $326.99.

Medpace (NASDAQ:MEDP - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The company reported $3.67 EPS 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 analysts' expectations of $528.38 million. During the same period in the prior year, the firm posted $3.20 earnings per share. Analysts expect that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Insider Activity at Medpace

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

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.