FMR LLC reduced its position in Medpace Holdings Inc (NASDAQ:MEDP) by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 938,437 shares of the company’s stock after selling 83,500 shares during the period. FMR LLC owned 2.30% of Medpace Holdings worth $33,849,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. Monashee Investment Management LLC acquired a new stake in Medpace Holdings during the third quarter valued at approximately $4,479,000. JPMorgan Chase & Co. acquired a new stake in Medpace Holdings during the third quarter valued at approximately $3,114,000. Russell Investments Group Ltd. acquired a new stake in Medpace Holdings during the fourth quarter valued at approximately $732,000. AGF Investments Inc. acquired a new stake in Medpace Holdings during the third quarter valued at approximately $1,492,000. Finally, Rock Springs Capital Management LP acquired a new stake in Medpace Holdings during the third quarter valued at approximately $4,031,000. 14.45% of the stock is currently owned by institutional investors and hedge funds.
Medpace Holdings Inc (NASDAQ:MEDP) traded up 0.07% during trading on Friday, hitting $30.46. 87,323 shares of the company’s stock were exchanged. Medpace Holdings Inc has a 12-month low of $26.01 and a 12-month high of $38.94. The firm has a market cap of $1.24 billion and a price-to-earnings ratio of 82.32. The company’s 50-day moving average price is $28.66 and its 200 day moving average price is $32.50.
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Several equities research analysts recently commented on the stock. Jefferies Group LLC reissued a “hold” rating and set a $35.50 price objective on shares of Medpace Holdings in a research note on Friday. KeyCorp started coverage on shares of Medpace Holdings in a report on Wednesday, March 29th. They issued an “overweight” rating and a $34.00 target price for the company. Finally, Zacks Investment Research raised shares of Medpace Holdings from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Thursday, March 2nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $34.30.
About Medpace Holdings
Medpace Holdings, Inc is a clinical contract research organization. The Company provides clinical research-based drug and medical device development services. The Company partners with pharmaceutical, biotechnology, and medical device companies in the development and execution of clinical trials. The Company’s drug development services focus on full service Phase I-IV clinical development services and include development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support.
