Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lessened its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,718 shares of the company's stock after selling 5,814 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.40% of Medpace worth $41,768,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Pallas Capital Advisors LLC boosted its position in Medpace by 179.7% in the 4th quarter. Pallas Capital Advisors LLC now owns 3,270 shares of the company's stock valued at $1,086,000 after buying an additional 2,101 shares during the period. Barclays PLC boosted its holdings in Medpace by 71.9% in the third quarter. Barclays PLC now owns 19,781 shares of the company's stock valued at $6,603,000 after purchasing an additional 8,275 shares during the period. Sanctuary Advisors LLC increased its holdings in Medpace by 20.5% during the 4th quarter. Sanctuary Advisors LLC now owns 4,964 shares of the company's stock worth $1,738,000 after purchasing an additional 844 shares during the period. SYM FINANCIAL Corp purchased a new position in shares of Medpace in the 4th quarter valued at about $320,000. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Medpace during the fourth quarter worth about $9,335,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Medpace Stock Performance

NASDAQ:MEDP traded down $1.14 during mid-day trading on Monday, hitting $303.97. 51,246 shares of the company's stock traded hands, compared to its average volume of 430,875. The company has a market cap of $8.74 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 3.81 and a beta of 1.55. The firm's 50 day simple moving average is $309.90 and its 200 day simple moving average is $330.04. Medpace Holdings, Inc. has a 1 year low of $250.05 and a 1 year high of $459.77.

Medpace (NASDAQ:MEDP - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.06 by $0.61. The company had revenue of $558.57 million during 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 last year, the business posted $3.20 earnings per share. On average, research analysts expect that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Insider Buying and Selling

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 value 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 document filed with the SEC, which is available at this link. 20.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.