Woodline Partners LP Invests $5.31 Million in Medpace Holdings, Inc. (NASDAQ:MEDP)

Woodline Partners LP bought a new position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,967 shares of the company's stock, valued at approximately $5,305,000. Woodline Partners LP owned approximately 0.05% of Medpace at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MEDP. Sone Capital Management LLC purchased a new position in Medpace during the 4th quarter worth approximately $1,318,000. Barclays PLC grew its position in Medpace by 71.9% during the 3rd quarter. Barclays PLC now owns 19,781 shares of the company's stock worth $6,603,000 after purchasing an additional 8,275 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Medpace by 20.5% during the 4th quarter. Sanctuary Advisors LLC now owns 4,964 shares of the company's stock valued at $1,738,000 after buying an additional 844 shares during the period. SYM FINANCIAL Corp acquired a new stake in shares of Medpace during the 4th quarter valued at $320,000. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Medpace during the 4th quarter valued at $9,335,000. Institutional investors own 77.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MEDP shares. Mizuho decreased their target price on shares of Medpace from $400.00 to $355.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. William Blair reaffirmed a "market perform" rating on shares of Medpace in a research note on Tuesday, April 22nd. 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 research note on Wednesday, April 23rd. Robert W. Baird reduced their price objective 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. Finally, TD Cowen lowered shares of Medpace from a "buy" rating to a "hold" rating and reduced their price objective for the company from $370.00 to $328.00 in a research note on Monday, April 14th. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $349.30.

Insiders Place Their Bets

In related news, Director Fred B. Davenport, Jr. sold 1,712 shares of the firm's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $301.82, for a total transaction of $516,715.84. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 20.30% of the company's stock.

Medpace Stock Performance

Medpace stock traded up $3.04 during trading hours on Thursday, hitting $296.85. 73,657 shares of the stock were exchanged, compared to its average volume of 352,922. The stock has a market capitalization of $8.53 billion, a P/E ratio of 23.52, a P/E/G ratio of 3.81 and a beta of 1.55. Medpace Holdings, Inc. has a 12 month low of $250.05 and a 12 month high of $459.77. The business's 50-day moving average is $300.15 and its two-hundred day moving average is $325.70.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.06 by $0.61. Medpace had a net margin of 19.17% and a return on equity of 51.48%. The firm had revenue of $558.57 million for the quarter, compared to analysts' expectations of $528.38 million. During the same period last year, the firm earned $3.20 earnings per share. On average, equities analysts predict that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

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.