Wealth Enhancement Advisory Services LLC Has $2.22 Million Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Wealth Enhancement Advisory Services LLC reduced its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 13.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 7,276 shares of the company's stock after selling 1,095 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Medpace were worth $2,217,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Lindbrook Capital LLC increased its position in Medpace by 27.6% in the 4th quarter. Lindbrook Capital LLC now owns 134 shares of the company's stock valued at $45,000 after acquiring an additional 29 shares during the period. HBK Sorce Advisory LLC increased its position in shares of Medpace by 0.5% during the fourth quarter. HBK Sorce Advisory LLC now owns 5,384 shares of the company's stock worth $1,789,000 after buying an additional 29 shares during the period. Assetmark Inc. increased its position in shares of Medpace by 20.1% during the fourth quarter. Assetmark Inc. now owns 173 shares of the company's stock worth $57,000 after buying an additional 29 shares during the period. Proficio Capital Partners LLC increased its position in shares of Medpace by 4.1% during the fourth quarter. Proficio Capital Partners LLC now owns 730 shares of the company's stock worth $243,000 after buying an additional 29 shares during the period. Finally, Arizona State Retirement System increased its position in shares of Medpace by 0.6% during the fourth quarter. Arizona State Retirement System now owns 7,630 shares of the company's stock worth $2,535,000 after buying an additional 46 shares during the period. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Medpace

In related news, Director Fred B. Davenport, Jr. sold 1,712 shares of the firm's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $301.82, for a total transaction of $516,715.84. Following the completion of the sale, the director now owns 2,998 shares in the company, valued at approximately $904,856.36. This trade represents a 36.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 20.30% of the stock is owned by insiders.

Medpace Trading Up 1.3%

Medpace stock opened at $310.69 on Friday. The firm's fifty day moving average price is $300.94 and its two-hundred day moving average price is $320.09. Medpace Holdings, Inc. has a 1-year low of $250.05 and a 1-year high of $459.77. The firm has a market capitalization of $8.93 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 5.61 and a beta of 1.47.

Medpace (NASDAQ:MEDP - Get Free Report) last released 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. Medpace had a net margin of 19.31% and a return on equity of 54.36%. The company had revenue of $558.57 million for the quarter, compared to analyst estimates of $528.38 million. During the same period last year, the firm earned $3.20 earnings per share. On average, research analysts forecast that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MEDP. Leerink Partnrs upgraded shares of Medpace to a "hold" rating in a research report on Monday, March 24th. William Blair reiterated a "market perform" rating on shares of Medpace in a research report on Tuesday, April 22nd. Robert W. Baird decreased their price objective on shares of Medpace from $340.00 to $313.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. TD Cowen cut shares of Medpace from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $370.00 to $328.00 in a research report on Monday, April 14th. Finally, Truist Financial decreased their price objective on shares of Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Medpace has a consensus rating of "Hold" and an average target price of $344.82.

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.

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