MML Investors Services LLC Acquires 927 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

MML Investors Services LLC grew its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 28.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 reporting period.

A number of other hedge funds also recently made changes to their positions in the business. R Squared Ltd bought a new stake in shares of Medpace during the fourth quarter valued at about $30,000. SBI Securities Co. Ltd. purchased a new stake in Medpace in the 4th quarter worth approximately $31,000. Jones Financial Companies Lllp boosted its holdings in Medpace by 2,750.0% in the 4th quarter. Jones Financial Companies Lllp now owns 114 shares of the company's stock valued at $38,000 after purchasing an additional 110 shares during the period. Lindbrook Capital LLC increased its holdings in shares of Medpace by 27.6% in the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company's stock worth $45,000 after purchasing an additional 29 shares during the period. Finally, Assetmark Inc. raised its position in shares of Medpace by 20.1% in the fourth quarter. Assetmark Inc. now owns 173 shares of the company's stock worth $57,000 after buying an additional 29 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors.

Medpace Price Performance

Medpace stock traded down $5.37 during trading hours on Tuesday, reaching $295.13. The stock had a trading volume of 71,606 shares, compared to its average volume of 342,179. The company has a fifty day simple moving average of $309.12 and a 200-day simple moving average of $329.65. Medpace Holdings, Inc. has a 52 week low of $250.05 and a 52 week high of $459.77. The stock has a market cap of $8.48 billion, a PE ratio of 23.38, a PEG ratio of 3.81 and a beta of 1.55.

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 analysts' consensus estimates of $3.06 by $0.61. The company had revenue of $558.57 million for the quarter, compared to the consensus estimate of $528.38 million. Medpace had a return on equity of 51.48% and a net margin of 19.17%. During the same quarter in the previous year, the business earned $3.20 EPS. Research analysts predict that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MEDP. TD Cowen downgraded Medpace from a "buy" rating to a "hold" rating and dropped their price target for the company from $370.00 to $328.00 in a research report on Monday, April 14th. William Blair reissued a "market perform" rating on shares of Medpace in a report on Tuesday, April 22nd. Leerink Partners started coverage on shares of Medpace in a report on Monday, March 24th. They set a "market perform" rating and a $330.00 price objective for the company. Mizuho reduced their target price on Medpace from $400.00 to $355.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, Truist Financial cut 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. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $349.30.

Insider Buying and Selling

In other 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 stock was sold at an average price of $301.82, for a total value of $516,715.84. Following the completion of the transaction, the director now owns 2,998 shares in the company, valued at $904,856.36. This trade represents a 36.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 20.30% of the stock is currently owned by insiders.

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.