Fundsmith Investment Services LTD. Acquires New Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Fundsmith Investment Services LTD. purchased a new position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 64,138 shares of the company's stock, valued at approximately $21,309,000. Medpace accounts for approximately 0.3% of Fundsmith Investment Services LTD.'s investment portfolio, making the stock its 23rd biggest position. Fundsmith Investment Services LTD. owned about 0.21% of Medpace at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Colonial Trust Co SC grew its stake 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 during the last quarter. Cetera Investment Advisers lifted its position in shares of Medpace by 8.6% in the fourth quarter. Cetera Investment Advisers now owns 12,032 shares of the company's stock valued at $3,997,000 after acquiring an additional 953 shares in the last quarter. Bridgefront Capital LLC acquired a new stake in shares of Medpace during the 4th quarter worth about $210,000. Captrust Financial Advisors boosted its stake in shares of Medpace by 12.7% during the 4th quarter. Captrust Financial Advisors now owns 5,699 shares of the company's stock worth $1,893,000 after purchasing an additional 643 shares during the last quarter. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of Medpace during the 4th quarter worth about $358,000. 77.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MEDP. TD Cowen cut shares of Medpace from a "buy" rating to a "hold" rating and decreased their price target for the stock from $370.00 to $328.00 in a research note on Monday, April 14th. Truist Financial decreased their price target on shares of Medpace from $333.00 to $300.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Robert W. Baird decreased their price target on shares of Medpace from $340.00 to $313.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. William Blair reaffirmed a "market perform" rating on shares of Medpace in a research note on Tuesday, April 22nd. Finally, Leerink Partnrs upgraded shares of Medpace to a "hold" rating in a report on Monday, March 24th. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $349.30.

Medpace Stock Performance

Shares of MEDP traded down $3.23 during midday trading on Tuesday, hitting $310.51. 135,538 shares of the stock traded hands, compared to its average volume of 345,873. 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 $8.92 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 3.81 and a beta of 1.55. The business's 50 day moving average price is $306.60 and its two-hundred day moving average price is $328.47.

Medpace (NASDAQ:MEDP - Get Free Report) last announced 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. Medpace had a net margin of 19.17% and a return on equity of 51.48%. The company had revenue of $558.57 million during the quarter, compared to the consensus estimate of $528.38 million. During the same quarter in the previous year, the company posted $3.20 earnings per share. As a group, equities research analysts forecast that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

Insider Activity

In related news, Director Fred B. Davenport, Jr. sold 1,712 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director now directly 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 20.30% of the company's stock.

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.