Gotham Asset Management LLC Cuts Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Gotham Asset Management LLC trimmed its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 29.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,753 shares of the company's stock after selling 2,457 shares during the quarter. Gotham Asset Management LLC's holdings in Medpace were worth $1,911,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Invesco Ltd. increased its position in Medpace by 91.8% during the fourth quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock worth $360,387,000 after buying an additional 519,186 shares during the period. Proficio Capital Partners LLC increased its stake in Medpace by 34,497.4% in the fourth quarter. Proficio Capital Partners LLC now owns 242,528 shares of the company's stock valued at $80,575,000 after purchasing an additional 241,827 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Medpace in the fourth quarter valued at about $78,144,000. Norges Bank acquired a new stake in shares of Medpace during the fourth quarter worth about $69,859,000. Finally, GW&K Investment Management LLC grew its holdings in shares of Medpace by 93.9% during the fourth quarter. GW&K Investment Management LLC now owns 275,460 shares of the company's stock worth $91,516,000 after buying an additional 133,379 shares during the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MEDP. Leerink Partners began coverage on Medpace in a research report on Monday, March 24th. They set a "market perform" rating and a $330.00 price objective for the company. William Blair reaffirmed a "market perform" rating on shares of Medpace in a report on Tuesday, April 22nd. Robert W. Baird dropped their price objective 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. Truist Financial lowered their target price on shares of Medpace from $333.00 to $300.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Finally, TD Cowen cut shares of Medpace from a "buy" rating to a "hold" rating and cut their price target for the stock from $370.00 to $328.00 in a report on Monday, April 14th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $349.30.

Insiders Place Their Bets

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of Medpace 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 completion of the sale, the director now owns 2,998 shares of the company's stock, valued at $904,856.36. The trade was a 36.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 20.30% of the stock is owned by corporate insiders.

Medpace Trading Up 0.1%

Shares of MEDP stock traded up $0.32 during mid-day trading on Monday, reaching $305.98. The stock had a trading volume of 188,958 shares, compared to its average volume of 350,640. Medpace Holdings, Inc. has a 12-month low of $250.05 and a 12-month high of $459.77. The business has a 50-day simple moving average of $304.24 and a 200 day simple moving average of $327.86. The company has a market cap of $8.79 billion, a P/E ratio of 24.23, a price-to-earnings-growth ratio of 3.81 and a beta of 1.55.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its earnings results on Monday, April 21st. The company reported $3.67 earnings per share 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 firm 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 EPS. Research analysts anticipate that Medpace Holdings, Inc. will post 12.29 EPS for the current 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.