Pinebridge Investments L.P. Sells 13,309 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Pinebridge Investments L.P. cut its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 51.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,641 shares of the company's stock after selling 13,309 shares during the quarter. Pinebridge Investments L.P.'s holdings in Medpace were worth $4,200,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MEDP. Dark Forest Capital Management LP acquired a new position in Medpace in the fourth quarter valued at approximately $626,000. Eversept Partners LP purchased a new stake in Medpace in the fourth quarter valued at approximately $6,329,000. Tower Research Capital LLC TRC lifted its stake in Medpace by 104.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,571 shares of the company's stock valued at $854,000 after buying an additional 1,314 shares during the last quarter. MML Investors Services LLC lifted its stake in Medpace by 28.6% in the fourth quarter. MML Investors Services LLC now owns 4,164 shares of the company's stock valued at $1,383,000 after buying an additional 927 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of Medpace by 8.3% during the fourth quarter. MetLife Investment Management LLC now owns 15,486 shares of the company's stock worth $5,145,000 after purchasing an additional 1,190 shares during the period. 77.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MEDP has been the topic of several analyst reports. William Blair reaffirmed a "market perform" rating on shares of Medpace in a report on Tuesday, April 22nd. Leerink Partnrs raised shares of Medpace to a "hold" rating in a report on Monday, March 24th. Mizuho decreased their price objective 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. TD Cowen lowered shares of Medpace from a "buy" rating to a "hold" rating and cut their price objective for the company from $370.00 to $328.00 in a research report on Monday, April 14th. Finally, Truist Financial cut their price objective on shares of Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $349.30.

Insider Buying and Selling

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of Medpace stock in a transaction 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 transaction, the director now directly owns 2,998 shares of the company's stock, valued at $904,856.36. This trade represents a 36.35 % decrease in their ownership of the stock. The sale 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.

Medpace Stock Performance

Shares of NASDAQ MEDP traded down $3.51 during trading hours on Thursday, hitting $304.89. The stock had a trading volume of 161,058 shares, compared to its average volume of 340,976. The company has a market capitalization of $8.76 billion, a P/E ratio of 24.14, a P/E/G ratio of 3.81 and a beta of 1.46. The firm's 50-day moving average price is $311.46 and its two-hundred day moving average price is $330.93. Medpace Holdings, Inc. has a 52 week low of $250.05 and a 52 week high of $459.77.

Medpace (NASDAQ:MEDP - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.61. Medpace had a return on equity of 51.48% and a net margin of 19.17%. The firm had revenue of $558.57 million during the quarter, compared to analyst estimates of $528.38 million. During the same period in the prior year, the company posted $3.20 earnings per share. As a group, analysts expect 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.