PDT Partners LLC Cuts Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

PDT Partners LLC lowered its position in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 36.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,618 shares of the company's stock after selling 3,165 shares during the period. PDT Partners LLC's holdings in Medpace were worth $1,866,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MEDP. Lindbrook Capital LLC raised its holdings in 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 in the last quarter. HBK Sorce Advisory LLC boosted its stake in Medpace by 0.5% during the fourth quarter. HBK Sorce Advisory LLC now owns 5,384 shares of the company's stock worth $1,789,000 after acquiring an additional 29 shares in the last quarter. Assetmark Inc. grew its holdings in Medpace by 20.1% in the fourth quarter. Assetmark Inc. now owns 173 shares of the company's stock worth $57,000 after purchasing an additional 29 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Medpace by 4.1% during the fourth quarter. Proficio Capital Partners LLC now owns 730 shares of the company's stock valued at $243,000 after purchasing an additional 29 shares in the last quarter. Finally, Schulhoff & Co. Inc. increased its stake in shares of Medpace by 1.2% during the fourth quarter. Schulhoff & Co. Inc. now owns 2,630 shares of the company's stock valued at $874,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company's stock.

Insiders Place Their Bets

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of Medpace stock in a transaction dated 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 directly owns 2,998 shares of the company's stock, valued at $904,856.36. The trade was a 36.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 20.30% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MEDP shares. Robert W. Baird reduced their price objective on Medpace from $340.00 to $313.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. William Blair restated a "market perform" rating on shares of Medpace in a research note on Tuesday, April 22nd. Truist Financial dropped their target price 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. TD Cowen lowered shares of Medpace from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $370.00 to $328.00 in a report on Monday, April 14th. Finally, Leerink Partners started coverage on Medpace in a research note on Monday, March 24th. They set a "market perform" rating and a $330.00 target price on the stock. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $349.30.

Medpace Price Performance

Shares of MEDP traded up $2.86 during trading hours on Friday, hitting $305.11. The stock had a trading volume of 313,502 shares, compared to its average volume of 342,545. Medpace Holdings, Inc. has a 12 month low of $250.05 and a 12 month high of $459.77. The stock has a fifty day moving average price of $309.90 and a 200 day moving average price of $330.24. The firm has a market capitalization of $8.77 billion, a PE ratio of 24.16, a PEG ratio of 3.81 and a beta of 1.55.

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

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.