Trust Point Inc. Has $935,000 Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Trust Point Inc. lowered its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 36.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,068 shares of the company's stock after selling 1,760 shares during the quarter. Trust Point Inc.'s holdings in Medpace were worth $935,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in shares of Medpace in the fourth quarter worth $31,000. Jones Financial Companies Lllp raised its position in shares of Medpace by 2,750.0% during the fourth quarter. Jones Financial Companies Lllp now owns 114 shares of the company's stock valued at $38,000 after buying an additional 110 shares during the last quarter. Lindbrook Capital LLC lifted its stake in shares of Medpace by 27.6% in the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company's stock valued at $45,000 after buying an additional 29 shares during the period. Assetmark Inc. increased its stake in Medpace by 20.1% during the fourth quarter. Assetmark Inc. now owns 173 shares of the company's stock valued at $57,000 after acquiring an additional 29 shares during the period. Finally, Colonial Trust Co SC raised its holdings in Medpace by 150.0% in the 4th quarter. Colonial Trust Co SC now owns 175 shares of the company's stock valued at $58,000 after acquiring an additional 105 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MEDP shares. Leerink Partnrs upgraded Medpace to a "hold" rating in a research note on Monday, March 24th. TD Cowen lowered shares of Medpace from a "buy" rating to a "hold" rating and lowered their price target for the company from $370.00 to $328.00 in a report on Monday, April 14th. Truist Financial reduced their price objective on shares of Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Leerink Partners assumed coverage on shares of Medpace in a research note on Monday, March 24th. They issued a "market perform" rating and a $330.00 target price on the stock. Finally, Robert W. Baird cut their price target on shares of Medpace from $340.00 to $313.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $349.30.

Insider Transactions at Medpace

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

Medpace Stock Performance

MEDP traded up $4.77 during mid-day trading on Thursday, reaching $302.69. The stock had a trading volume of 656,130 shares, compared to its average volume of 365,467. The firm's fifty day simple moving average is $299.23 and its two-hundred day simple moving average is $321.96. The stock has a market capitalization of $8.70 billion, a P/E ratio of 23.11, a P/E/G ratio of 5.38 and a beta of 1.47. Medpace Holdings, Inc. has a 52 week low of $250.05 and a 52 week high of $459.77.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $0.61. The business had revenue of $558.57 million for the quarter, compared to analysts' expectations of $528.38 million. Medpace had a return on equity of 54.36% and a net margin of 19.31%. During the same quarter last year, the business earned $3.20 earnings per share. As a group, analysts expect 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.