Wealth Enhancement Advisory Services LLC Cuts Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Wealth Enhancement Advisory Services LLC cut its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 13.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,276 shares of the company's stock after selling 1,095 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Medpace were worth $2,217,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MEDP. Sone Capital Management LLC bought a new stake in shares of Medpace in the 4th quarter valued at about $1,318,000. Charles Schwab Investment Management Inc. increased its stake in Medpace by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 201,046 shares of the company's stock valued at $66,794,000 after purchasing an additional 2,142 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in Medpace by 347.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 4,248 shares of the company's stock worth $1,411,000 after purchasing an additional 3,299 shares during the period. Fundsmith LLP bought a new position in shares of Medpace during the fourth quarter worth $42,372,000. Finally, Park Avenue Securities LLC increased its position in shares of Medpace by 1.8% in the 1st quarter. Park Avenue Securities LLC now owns 2,749 shares of the company's stock valued at $838,000 after buying an additional 48 shares in the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Medpace 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 transaction of $516,715.84. Following the completion of the transaction, the director owned 2,998 shares of the company's stock, valued at approximately $904,856.36. This trade represents a 36.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 20.30% of the company's stock.

Medpace Price Performance

Shares of Medpace stock traded up $6.70 during trading hours on Wednesday, hitting $327.77. 228,092 shares of the company's stock traded hands, compared to its average volume of 372,375. The stock has a market capitalization of $9.42 billion, a price-to-earnings ratio of 25.02, a PEG ratio of 5.66 and a beta of 1.47. Medpace Holdings, Inc. has a 12-month low of $250.05 and a 12-month high of $459.77. The company has a fifty day simple moving average of $302.21 and a 200-day simple moving average of $319.68.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $558.57 million during the quarter, compared to analyst estimates 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 company earned $3.20 earnings per share. On average, analysts forecast that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MEDP shares. Barclays assumed coverage on Medpace in a report on Tuesday, June 24th. They set an "equal weight" rating and a $300.00 price objective on the stock. TD Cowen lowered Medpace from a "buy" rating to a "hold" rating and cut their price target for the company from $370.00 to $328.00 in a report on Monday, April 14th. Truist Financial decreased their price objective on Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Mizuho lowered their price objective on shares of Medpace from $400.00 to $355.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Finally, Leerink Partnrs raised shares of Medpace to a "hold" rating in a research report on Monday, March 24th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $344.82.

About Medpace

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.