Hsbc Holdings PLC Has $566,000 Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Hsbc Holdings PLC cut its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 62.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,695 shares of the company’s stock after selling 2,805 shares during the quarter. Hsbc Holdings PLC’s holdings in Medpace were worth $566,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MEDP. R Squared Ltd bought a new position in Medpace during the 4th quarter worth $30,000. SBI Securities Co. Ltd. bought a new position in shares of Medpace in the fourth quarter worth $31,000. Jones Financial Companies Lllp raised its stake in Medpace by 2,750.0% in the fourth quarter. Jones Financial Companies Lllp now owns 114 shares of the company’s stock valued at $38,000 after purchasing an additional 110 shares in the last quarter. Lindbrook Capital LLC lifted its position in Medpace by 27.6% during 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. grew its stake in Medpace by 20.1% during 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 and hedge funds.

Insider Buying and Selling

In other Medpace 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 shares were sold at an average price of $301.82, for a total transaction of $516,715.84. Following the completion of the transaction, the director now owns 2,998 shares in the company, valued at approximately $904,856.36. This trade represents a 36.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 20.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MEDP. Truist Financial reduced their price target on shares of Medpace from $333.00 to $300.00 and set a “hold” rating on the stock in a research report on Wednesday, April 23rd. TD Cowen cut Medpace from a “buy” rating to a “hold” rating and lowered their price target for the stock from $370.00 to $328.00 in a report on Monday, April 14th. Leerink Partners assumed coverage on Medpace in a research report on Monday, March 24th. They set a “market perform” rating and a $330.00 price objective for the company. Mizuho lowered their target price on Medpace from $400.00 to $355.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, William Blair restated a “market perform” rating on shares of Medpace in a research note on Tuesday, April 22nd. Eleven 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 an average target price of $349.30.

Medpace Price Performance

MEDP opened at $289.22 on Wednesday. The company’s 50 day moving average price is $308.38 and its two-hundred day moving average price is $329.37. The firm has a market capitalization of $8.31 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 3.81 and a beta of 1.55. Medpace Holdings, Inc. has a fifty-two week low of $250.05 and a fifty-two week high of $459.77.

Medpace (NASDAQ:MEDP) last announced its earnings results 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 business had revenue of $558.57 million during the quarter, compared to analyst estimates of $528.38 million. During the same period last year, the company earned $3.20 EPS. As a group, equities research analysts predict that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

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.