Farther Finance Advisors LLC Trims Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Farther Finance Advisors LLC lowered its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 3.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,285 shares of the company’s stock after selling 40 shares during the period. Farther Finance Advisors LLC’s holdings in Medpace were worth $383,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MEDP. Stephens Inc. AR boosted its holdings in Medpace by 4.9% during the 4th quarter. Stephens Inc. AR now owns 752 shares of the company’s stock valued at $250,000 after acquiring an additional 35 shares during the period. Van ECK Associates Corp increased its stake in Medpace by 34.7% during the fourth quarter. Van ECK Associates Corp now owns 27,260 shares of the company’s stock worth $9,057,000 after purchasing an additional 7,027 shares during the period. Vontobel Holding Ltd. lifted its position in shares of Medpace by 46.6% during the fourth quarter. Vontobel Holding Ltd. now owns 2,088 shares of the company’s stock worth $694,000 after purchasing an additional 664 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Medpace by 0.8% during the fourth quarter. Rhumbline Advisers now owns 73,320 shares of the company’s stock worth $24,359,000 after purchasing an additional 581 shares in the last quarter. Finally, Congress Asset Management Co. boosted its stake in shares of Medpace by 14.7% in the fourth quarter. Congress Asset Management Co. now owns 53,696 shares of the company’s stock valued at $17,839,000 after purchasing an additional 6,878 shares during the period. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MEDP. Leerink Partnrs upgraded Medpace to a “hold” rating in a research note on Monday, March 24th. William Blair reiterated a “market perform” rating on shares of Medpace in a research note on Tuesday, April 22nd. Leerink Partners assumed coverage on shares of Medpace in a research report on Monday, March 24th. They issued a “market perform” rating and a $330.00 price objective on the stock. Mizuho decreased their price objective on shares of Medpace from $400.00 to $355.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Finally, 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 research note on Wednesday, April 23rd. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $349.30.

Insider Transactions at Medpace

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of Medpace stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $301.82, for a total value 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. The trade was a 36.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 20.30% of the stock is owned by insiders.

Medpace Stock Up 0.9%

MEDP stock opened at $300.98 on Tuesday. The stock has a market cap of $8.65 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 3.81 and a beta of 1.47. The firm’s 50-day simple moving average is $299.32 and its 200 day simple moving average is $322.27. 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 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 for the quarter, compared to analysts’ expectations of $528.38 million. During the same quarter in the previous year, the company earned $3.20 earnings per share. Equities analysts forecast that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

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.