Voya Investment Management LLC Cuts Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Voya Investment Management LLC lessened its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 13.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,416 shares of the company's stock after selling 3,302 shares during the quarter. Voya Investment Management LLC owned 0.07% of Medpace worth $6,783,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MEDP. Pallas Capital Advisors LLC increased its stake in Medpace by 179.7% in the 4th quarter. Pallas Capital Advisors LLC now owns 3,270 shares of the company's stock worth $1,086,000 after purchasing an additional 2,101 shares during the period. Barclays PLC raised its stake in shares of Medpace by 71.9% during the third quarter. Barclays PLC now owns 19,781 shares of the company's stock valued at $6,603,000 after acquiring an additional 8,275 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Medpace by 20.5% in the fourth 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 last quarter. SYM FINANCIAL Corp purchased a new position in Medpace during the 4th quarter valued at about $320,000. Finally, Tokio Marine Asset Management Co. Ltd. bought a new position in Medpace during the 4th quarter valued at approximately $9,335,000. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Medpace Stock Down 0.4 %

Shares of MEDP traded down $1.15 during trading hours on Monday, reaching $303.97. 51,246 shares of the company traded hands, compared to its average volume of 342,242. The stock has a market capitalization of $8.74 billion, a P/E ratio of 24.14, a P/E/G ratio of 3.81 and a beta of 1.55. 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 12-month low of $250.05 and a 12-month high of $459.77.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its 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 firm had revenue of $558.57 million for the quarter, compared to analyst estimates of $528.38 million. During the same quarter last year, the firm posted $3.20 EPS. As a group, research analysts predict that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on MEDP shares. William Blair restated a "market perform" rating on shares of Medpace in a report on Tuesday, April 22nd. Leerink Partners initiated coverage on shares of Medpace in a research note on Monday, March 24th. They issued a "market perform" rating and a $330.00 price target for the company. Truist Financial decreased their target price on Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Robert W. Baird lowered 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. Finally, TD Cowen downgraded Medpace from a "buy" rating to a "hold" rating and cut their price target for the stock from $370.00 to $328.00 in a research note on Monday, April 14th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Medpace currently has an average rating of "Hold" and an average target price of $349.30.

Insiders Place Their Bets

In related news, Director Fred B. Davenport, Jr. sold 1,712 shares of the business'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 transaction of $516,715.84. Following the completion of the sale, the director now directly owns 2,998 shares in the company, valued at approximately $904,856.36. The trade was a 36.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.30% of the stock is owned by company 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.