Tidal Investments LLC Trims Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Tidal Investments LLC cut its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 42.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,117 shares of the company's stock after selling 1,537 shares during the period. Tidal Investments LLC's holdings in Medpace were worth $703,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Teza Capital Management LLC boosted its holdings in Medpace by 10.5% in the 4th quarter. Teza Capital Management LLC now owns 1,633 shares of the company's stock worth $543,000 after buying an additional 155 shares during the period. True Wealth Design LLC increased its holdings in shares of Medpace by 52.7% in the fourth quarter. True Wealth Design LLC now owns 258 shares of the company's stock worth $86,000 after purchasing an additional 89 shares during the period. Strategic Global Advisors LLC raised its position in shares of Medpace by 8.8% in the fourth quarter. Strategic Global Advisors LLC now owns 3,815 shares of the company's stock worth $1,267,000 after buying an additional 309 shares in the last quarter. Snowden Capital Advisors LLC purchased a new stake in shares of Medpace in the fourth quarter worth $222,000. Finally, Royal Bank of Canada boosted its stake in Medpace by 1.9% during the fourth quarter. Royal Bank of Canada now owns 48,398 shares of the company's stock valued at $16,078,000 after buying an additional 890 shares during the period. 77.98% of the stock is owned by institutional investors.

Insider Transactions at Medpace

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Robert W. Baird dropped their price objective on Medpace from $340.00 to $313.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Mizuho dropped their price objective on Medpace from $400.00 to $355.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Leerink Partnrs raised Medpace to a "hold" rating in a research note on Monday, March 24th. Truist Financial dropped their price objective on Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Finally, Leerink Partners assumed coverage on Medpace in a research note on Monday, March 24th. They set a "market perform" rating and a $330.00 price objective for the company. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Medpace currently has an average rating of "Hold" and a consensus price target of $349.30.

Medpace Price Performance

MEDP stock traded down $0.60 during mid-day trading on Friday, hitting $296.45. 315,099 shares of the stock were exchanged, compared to its average volume of 354,653. The business has a fifty day moving average price of $298.92 and a 200 day moving average price of $324.80. Medpace Holdings, Inc. has a 12 month low of $250.05 and a 12 month high of $459.77. The stock has a market capitalization of $8.52 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 3.81 and a beta of 1.55.

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, 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 51.48% and a net margin of 19.17%. During the same quarter in the previous year, the business earned $3.20 earnings per share. As a group, equities analysts forecast that Medpace Holdings, Inc. will post 12.29 EPS 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.