Stephens Inc. AR Cuts Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Stephens Inc. AR cut its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 5.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 711 shares of the company’s stock after selling 41 shares during the quarter. Stephens Inc. AR’s holdings in Medpace were worth $217,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MEDP. Joseph Group Capital Management boosted its stake in Medpace by 15.3% in the first quarter. Joseph Group Capital Management now owns 4,173 shares of the company’s stock valued at $1,271,000 after acquiring an additional 553 shares during the last quarter. Covey Capital Advisors LLC purchased a new position in Medpace in the first quarter valued at about $1,261,000. Alps Advisors Inc. boosted its stake in Medpace by 10.0% in the first quarter. Alps Advisors Inc. now owns 1,098 shares of the company’s stock valued at $335,000 after acquiring an additional 100 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its stake in Medpace by 1.9% in the first quarter. Linden Thomas Advisory Services LLC now owns 4,746 shares of the company’s stock valued at $1,446,000 after acquiring an additional 87 shares during the last quarter. Finally, Palisades Investment Partners LLC boosted its stake in Medpace by 1.6% in the first quarter. Palisades Investment Partners LLC now owns 16,174 shares of the company’s stock valued at $4,928,000 after acquiring an additional 255 shares during the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Medpace news, Director Fred B. Davenport, Jr. sold 1,712 shares of the stock in a transaction 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 sale, the director owned 2,998 shares of the company’s stock, valued at $904,856.36. This represents a 36.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 20.30% of the stock is owned by insiders.

Medpace Price Performance

Shares of NASDAQ:MEDP opened at $311.87 on Monday. The company’s fifty day moving average price is $307.47 and its 200-day moving average price is $317.86. The firm has a market capitalization of $8.96 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 5.64 and a beta of 1.47. Medpace Holdings, Inc. has a one year low of $250.05 and a one year high of $440.38.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data 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 net margin of 19.31% and a return on equity of 54.36%. The company had revenue of $558.57 million during the quarter, compared to analysts’ expectations of $528.38 million. During the same quarter in the prior year, the company earned $3.20 EPS. As a group, equities research analysts expect that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Analyst Upgrades and Downgrades

MEDP has been the topic of several research reports. Truist Financial lowered 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. Barclays initiated coverage on shares of Medpace in a research report on Tuesday, June 24th. They issued an “equal weight” rating and a $300.00 price target on the stock. Leerink Partnrs raised shares of Medpace to a “hold” rating in a research report on Monday, March 24th. Mizuho lowered their price target on shares of Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Finally, Robert W. Baird lowered their price target on shares of Medpace from $340.00 to $313.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $344.82.

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.