OMERS ADMINISTRATION Corp Sells 4,550 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

OMERS ADMINISTRATION Corp reduced its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 51.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,350 shares of the company’s stock after selling 4,550 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Medpace were worth $1,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MEDP. R Squared Ltd bought a new position in shares of Medpace during the fourth quarter valued at $30,000. SBI Securities Co. Ltd. bought a new position in Medpace in the fourth quarter valued at about $31,000. Jones Financial Companies Lllp lifted its holdings 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 period. Lindbrook Capital LLC lifted its holdings in Medpace by 27.6% in the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company’s stock valued at $45,000 after acquiring an additional 29 shares during the period. Finally, Assetmark Inc. lifted its holdings in Medpace by 20.1% in the fourth quarter. Assetmark Inc. now owns 173 shares of the company’s stock valued at $57,000 after acquiring an additional 29 shares during the period. 77.98% of the stock is owned by institutional investors.

Medpace Stock Up 1.6%

Shares of MEDP opened at $296.41 on Friday. The business has a 50-day simple moving average of $304.65 and a two-hundred day simple moving average of $327.86. The stock has a market cap of $8.52 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 3.81 and a beta of 1.55. Medpace Holdings, Inc. has a 52 week low of $250.05 and a 52 week high of $459.77.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.61. Medpace had a return on equity of 51.48% and a net margin of 19.17%. The firm had revenue of $558.57 million during the quarter, compared to analysts’ expectations of $528.38 million. During the same quarter last year, the business posted $3.20 earnings per share. On average, equities analysts anticipate that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Fred B. Davenport, Jr. sold 1,712 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $301.82, for a total transaction of $516,715.84. Following the completion of the sale, the director now owns 2,998 shares in the company, valued at approximately $904,856.36. This trade represents a 36.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 20.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. William Blair reissued a “market perform” rating on shares of Medpace in a report on Tuesday, April 22nd. Leerink Partnrs raised Medpace to a “hold” rating in a report on Monday, March 24th. Truist Financial lowered their target price on Medpace from $333.00 to $300.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Robert W. Baird lowered 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. Finally, Mizuho lowered their target price on Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $349.30.

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.