True Wealth Design LLC Acquires 89 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

True Wealth Design LLC grew its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 52.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 258 shares of the company’s stock after buying an additional 89 shares during the period. True Wealth Design LLC’s holdings in Medpace were worth $86,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MEDP. Invesco Ltd. increased its holdings in Medpace by 91.8% during the fourth quarter. Invesco Ltd. now owns 1,084,753 shares of the company’s stock valued at $360,387,000 after buying an additional 519,186 shares during the last quarter. Proficio Capital Partners LLC boosted its position in shares of Medpace by 34,497.4% in the fourth quarter. Proficio Capital Partners LLC now owns 242,528 shares of the company’s stock worth $80,575,000 after purchasing an additional 241,827 shares during the period. Raymond James Financial Inc. bought a new position in shares of Medpace in the fourth quarter worth approximately $78,144,000. Norges Bank bought a new position in shares of Medpace in the fourth quarter worth approximately $69,859,000. Finally, GW&K Investment Management LLC boosted its position in shares of Medpace by 93.9% in the fourth quarter. GW&K Investment Management LLC now owns 275,460 shares of the company’s stock worth $91,516,000 after purchasing an additional 133,379 shares during the period. 77.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Mizuho dropped their target price 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. Leerink Partners started coverage on shares of Medpace in a research note on Monday, March 24th. They issued a “market perform” rating and a $330.00 target price on the stock. Leerink Partnrs raised shares of 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 report on Tuesday, April 22nd. Finally, Truist Financial dropped their target price on shares of Medpace from $333.00 to $300.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $349.30.

Medpace Price Performance

Shares of NASDAQ:MEDP opened at $305.66 on Friday. The firm has a market capitalization of $8.79 billion, a PE ratio of 24.20, a price-to-earnings-growth ratio of 3.81 and a beta of 1.55. The firm’s 50-day moving average is $304.24 and its two-hundred day moving average is $327.76. Medpace Holdings, Inc. has a 1 year low of $250.05 and a 1 year high of $459.77.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, April 21st. The company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $0.61. Medpace had a net margin of 19.17% and a return on equity of 51.48%. The firm had revenue of $558.57 million for the quarter, compared to analyst estimates of $528.38 million. During the same period in the prior year, the firm earned $3.20 earnings per share. Analysts expect that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $301.82, for a total value of $516,715.84. Following the completion of the sale, the director now directly owns 2,998 shares of the company’s stock, valued at approximately $904,856.36. This represents a 36.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 20.30% of the company’s stock.

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.