MML Investors Services LLC Increases Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

MML Investors Services LLC boosted its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 28.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,164 shares of the company's stock after purchasing an additional 927 shares during the quarter. MML Investors Services LLC's holdings in Medpace were worth $1,383,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Medpace by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 2,570,770 shares of the company's stock valued at $854,087,000 after buying an additional 25,704 shares during the last quarter. Invesco Ltd. lifted its stake in Medpace by 91.8% in the 4th quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock worth $360,387,000 after purchasing an additional 519,186 shares in the last quarter. Wasatch Advisors LP lifted its stake in Medpace by 3.1% in the 4th quarter. Wasatch Advisors LP now owns 936,842 shares of the company's stock worth $311,247,000 after purchasing an additional 28,161 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Medpace by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 656,130 shares of the company's stock valued at $218,031,000 after purchasing an additional 28,076 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in shares of Medpace by 15.0% during the fourth quarter. Bessemer Group Inc. now owns 576,044 shares of the company's stock valued at $191,379,000 after purchasing an additional 75,275 shares in the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 20.30% of the company's stock.

Medpace Price Performance

Shares of NASDAQ:MEDP traded down $1.37 during trading hours on Monday, hitting $303.75. 126,340 shares of the company's stock traded hands, compared to its average volume of 342,553. The business has a fifty day moving average price of $309.90 and a 200-day moving average price of $330.04. 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 $8.73 billion, a P/E ratio of 24.00, a price-to-earnings-growth ratio of 3.81 and a beta of 1.55.

Medpace (NASDAQ:MEDP - Get Free Report) last released its earnings results on Monday, April 21st. The company reported $3.67 earnings per share for the quarter, topping analysts' consensus estimates of $3.06 by $0.61. The business had revenue of $558.57 million for the quarter, compared to analyst estimates of $528.38 million. Medpace had a return on equity of 51.48% and a net margin of 19.17%. During the same quarter last year, the firm posted $3.20 earnings per share. As a group, equities analysts predict that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on MEDP shares. Truist Financial dropped their price target on Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. TD Cowen downgraded Medpace from a "buy" rating to a "hold" rating and lowered their target price for the company from $370.00 to $328.00 in a research report on Monday, April 14th. Leerink Partnrs upgraded shares of Medpace to a "hold" rating in a research report on Monday, March 24th. Robert W. Baird lowered 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. Finally, Mizuho reduced their target price 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. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $349.30.

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.