Envestnet Asset Management Inc. Reduces Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Envestnet Asset Management Inc. lowered its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 7.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 93,786 shares of the company’s stock after selling 7,941 shares during the period. Envestnet Asset Management Inc. owned approximately 0.33% of Medpace worth $28,576,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Sone Capital Management LLC acquired a new position in Medpace in the 4th quarter valued at $1,318,000. GAMMA Investing LLC grew its holdings in shares of Medpace by 37.1% during the 1st quarter. GAMMA Investing LLC now owns 307 shares of the company’s stock worth $94,000 after purchasing an additional 83 shares during the period. Orion Portfolio Solutions LLC grew its holdings in shares of Medpace by 347.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 4,248 shares of the company’s stock worth $1,411,000 after purchasing an additional 3,299 shares during the period. Fundsmith LLP purchased a new position in Medpace during the 4th quarter valued at about $42,372,000. Finally, Park Avenue Securities LLC boosted its holdings in Medpace by 1.8% during the 1st quarter. Park Avenue Securities LLC now owns 2,749 shares of the company’s stock valued at $838,000 after acquiring an additional 48 shares during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Insider Buying and Selling at Medpace

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 directly owned 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 document filed with the SEC, which is accessible through this hyperlink. 20.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MEDP shares. Mizuho reduced their price target on Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. 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 target on the stock. Robert W. Baird dropped their target price on Medpace from $340.00 to $313.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. Leerink Partnrs upgraded shares of Medpace to a “hold” rating in a research note on Monday, March 24th. Finally, TD Cowen downgraded Medpace from a “buy” rating to a “hold” rating and decreased their price target for the company from $370.00 to $328.00 in a research note on Monday, April 14th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $344.82.

Medpace Stock Down 1.0%

Shares of NASDAQ MEDP opened at $320.36 on Tuesday. The stock has a market capitalization of $9.21 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 5.85 and a beta of 1.47. The stock’s fifty day simple moving average is $306.01 and its 200 day simple moving average is $318.38. Medpace Holdings, Inc. has a 52-week low of $250.05 and a 52-week high of $459.77.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, April 21st. The company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates of $3.06 by $0.61. The business had revenue of $558.57 million for the quarter, compared to the consensus estimate of $528.38 million. Medpace had a return on equity of 54.36% and a net margin of 19.31%. During the same quarter in the previous year, the company posted $3.20 earnings per share. As a group, analysts anticipate that Medpace Holdings, Inc. will post 12.29 earnings per share for the current 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.