Quantedge Capital Pte Ltd cut its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP – Free Report) by 62.1% during the 1st quarter, Holdings Channel reports. The firm owned 2,000 shares of the company’s stock after selling 3,280 shares during the period. Medpace makes up 0.5% of Quantedge Capital Pte Ltd’s holdings, making the stock its 28th largest holding. Quantedge Capital Pte Ltd’s holdings in Medpace were worth $960,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in shares of Medpace by 164.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,653 shares of the company’s stock valued at $2,086,000 after acquiring an additional 2,274 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Medpace in the 4th quarter valued at $4,084,000. Cerity Partners LLC increased its stake in shares of Medpace by 41.0% in the 4th quarter. Cerity Partners LLC now owns 80,973 shares of the company’s stock valued at $45,478,000 after purchasing an additional 23,530 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Medpace by 24,930.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 101,373 shares of the company’s stock valued at $56,936,000 after purchasing an additional 100,968 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Medpace by 881.1% during the 4th quarter. SG Americas Securities LLC now owns 60,144 shares of the company’s stock worth $33,780,000 after buying an additional 54,014 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts recently weighed in on the company. Barclays reduced their price objective on Medpace from $500.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Friday, April 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of Medpace in a research note on Thursday, July 2nd. Jefferies Financial Group cut shares of Medpace from a “buy” rating to a “hold” rating and increased their target price for the stock from $490.00 to $515.00 in a report on Tuesday, July 7th. Mizuho raised their price target on shares of Medpace from $495.00 to $586.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $547.00 price target (up from $477.00) on shares of Medpace in a report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $469.50.
Medpace Stock Performance
Shares of NASDAQ:MEDP opened at $531.67 on Wednesday. Medpace Holdings, Inc. has a 52-week low of $373.00 and a 52-week high of $628.92. The company has a market capitalization of $15.18 billion, a PE ratio of 33.42, a price-to-earnings-growth ratio of 2.64 and a beta of 1.15. The company has a fifty day moving average of $482.55 and a 200-day moving average of $493.73.
Medpace (NASDAQ:MEDP – Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $4.28 earnings per share for the quarter, beating the consensus estimate of $3.74 by $0.54. The company had revenue of $706.60 million for the quarter, compared to the consensus estimate of $697.82 million. Medpace had a return on equity of 120.89% and a net margin of 17.19%.Medpace’s revenue for the quarter was up 26.5% on a year-over-year basis. During the same quarter last year, the business posted $3.67 EPS. On average, equities analysts forecast that Medpace Holdings, Inc. will post 17.04 EPS for the current fiscal year.
Insider Transactions at Medpace
In other Medpace news, General Counsel Stephen P. Ewald sold 16,349 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $450.00, for a total value of $7,357,050.00. Following the completion of the transaction, the general counsel owned 20,343 shares of the company’s stock, valued at $9,154,350. This represents a 44.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 20.50% of the stock is currently owned by insiders.
About Medpace
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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