Archford Capital Strategies LLC purchased a new stake in Medpace Holdings, Inc. (NASDAQ:MEDP – Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 1,690 shares of the company’s stock, valued at approximately $949,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MEDP. Quent Capital LLC bought a new position in Medpace in the third quarter valued at approximately $25,000. Optiver Holding B.V. acquired a new stake in Medpace in the third quarter valued at $27,000. Quarry LP bought a new position in shares of Medpace in the 3rd quarter valued at about $35,000. Root Financial Partners LLC acquired a new position in shares of Medpace during the 3rd quarter worth about $38,000. Finally, Geneos Wealth Management Inc. grew its holdings in Medpace by 64.9% during the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $29,000 after purchasing an additional 37 shares during the period. 77.98% of the stock is owned by institutional investors.
Medpace Stock Performance
NASDAQ:MEDP opened at $489.48 on Thursday. Medpace Holdings, Inc. has a 52 week low of $250.05 and a 52 week high of $628.92. The firm has a market cap of $13.89 billion, a price-to-earnings ratio of 31.99, a P/E/G ratio of 2.30 and a beta of 1.39. The firm’s 50-day simple moving average is $485.99 and its 200 day simple moving average is $537.17.
Analyst Ratings Changes
A number of research firms recently weighed in on MEDP. TD Cowen raised Medpace from a “sell” rating to a “hold” rating and decreased their target price for the stock from $462.00 to $419.00 in a report on Wednesday, February 18th. Truist Financial reduced their price objective on shares of Medpace from $555.00 to $539.00 and set a “hold” rating for the company in a research report on Wednesday, February 11th. Royal Bank Of Canada assumed coverage on shares of Medpace in a report on Tuesday, March 3rd. They issued an “outperform” rating and a $522.00 price objective on the stock. Leerink Partners dropped their price objective on shares of Medpace from $575.00 to $485.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 11th. Finally, Zacks Research cut shares of Medpace from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $486.67.
Check Out Our Latest Report on MEDP
Insider Buying and Selling at Medpace
In other Medpace news, President Jesse J. Geiger sold 31,707 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $455.30, for a total value of $14,436,197.10. Following the sale, the president owned 15,000 shares of the company’s stock, valued at approximately $6,829,500. This trade represents a 67.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 20.30% of the company’s stock.
Medpace Profile
Medpace Holdings, Inc (NASDAQ: MEDP) is a global contract research organization (CRO) that provides comprehensive clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports clinical trials across all phases (I–IV), offering end-to-end solutions designed to streamline the development process and accelerate the delivery of new therapies to market.
Medpace’s core service offerings include clinical pharmacology, regulatory affairs consulting, project management, central laboratory services, imaging, data management and biostatistics, pharmacovigilance and medical writing.
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