Davidson Capital Management Inc. Sells 518 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Davidson Capital Management Inc. trimmed its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 5.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,154 shares of the company’s stock after selling 518 shares during the period. Davidson Capital Management Inc.’s holdings in Medpace were worth $2,789,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in shares of Medpace during the 4th quarter worth approximately $31,000. Jones Financial Companies Lllp increased its stake in Medpace by 2,750.0% in the fourth quarter. Jones Financial Companies Lllp now owns 114 shares of the company’s stock valued at $38,000 after acquiring an additional 110 shares during the last quarter. Lindbrook Capital LLC raised its position in Medpace by 27.6% during the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company’s stock valued at $45,000 after purchasing an additional 29 shares in the last quarter. Assetmark Inc. lifted its stake in Medpace by 20.1% during the fourth quarter. Assetmark Inc. now owns 173 shares of the company’s stock worth $57,000 after purchasing an additional 29 shares during the last quarter. Finally, Colonial Trust Co SC boosted its holdings in shares of Medpace by 150.0% in the 4th quarter. Colonial Trust Co SC now owns 175 shares of the company’s stock valued at $58,000 after purchasing an additional 105 shares in the last quarter. 77.98% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of the business’s 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 20.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MEDP shares. Robert W. Baird lowered their price target on Medpace from $340.00 to $313.00 and set a “neutral” rating for the company in a report on Wednesday, April 23rd. Leerink Partnrs raised Medpace to a “hold” rating in a research note on Monday, March 24th. TD Cowen cut shares of Medpace from a “buy” rating to a “hold” rating and dropped their target price for the stock from $370.00 to $328.00 in a report on Monday, April 14th. William Blair reaffirmed a “market perform” rating on shares of Medpace in a report on Tuesday, April 22nd. Finally, Leerink Partners assumed coverage on shares of Medpace in a research report on Monday, March 24th. They set a “market perform” rating and a $330.00 price objective for the company. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $349.30.

Medpace Price Performance

MEDP opened at $302.69 on Thursday. Medpace Holdings, Inc. has a fifty-two week low of $250.05 and a fifty-two week high of $459.77. The company’s 50 day moving average price is $299.23 and its two-hundred day moving average price is $321.96. The firm has a market capitalization of $8.70 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 5.38 and a beta of 1.47.

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