Iron Triangle Partners LP Decreases Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Iron Triangle Partners LP reduced its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 53.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,000 shares of the company’s stock after selling 102,842 shares during the period. Medpace makes up about 3.3% of Iron Triangle Partners LP’s investment portfolio, making the stock its 15th biggest position. Iron Triangle Partners LP owned approximately 0.29% of Medpace worth $29,901,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Invesco Ltd. grew its stake in shares of Medpace by 91.8% during the 4th quarter. Invesco Ltd. now owns 1,084,753 shares of the company’s stock valued at $360,387,000 after purchasing an additional 519,186 shares during the period. Proficio Capital Partners LLC increased its holdings in Medpace by 34,497.4% during the fourth quarter. Proficio Capital Partners LLC now owns 242,528 shares of the company’s stock valued at $80,575,000 after buying an additional 241,827 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Medpace during the 4th quarter worth $78,144,000. Norges Bank bought a new stake in shares of Medpace during the 4th quarter valued at $69,859,000. Finally, GW&K Investment Management LLC increased its stake in shares of Medpace by 93.9% in the 4th 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 in the last quarter. Institutional investors own 77.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MEDP. Truist Financial cut their price target on Medpace from $333.00 to $300.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. Leerink Partnrs upgraded shares of Medpace to a “hold” rating in a research note on Monday, March 24th. Robert W. Baird dropped their price target on shares of Medpace from $340.00 to $313.00 and set a “neutral” rating for the company in a research report on Wednesday, April 23rd. William Blair restated a “market perform” rating on shares of Medpace in a research report on Tuesday, April 22nd. Finally, 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 report on Wednesday, April 9th. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Medpace presently has a consensus rating of “Hold” and an average price target of $349.30.

Medpace Trading Down 1.6 %

Shares of Medpace stock opened at $296.03 on Friday. Medpace Holdings, Inc. has a 12 month low of $250.05 and a 12 month high of $459.77. The stock has a 50 day moving average of $306.90 and a 200 day moving average of $328.58. The firm has a market cap of $8.51 billion, a PE ratio of 23.44, a PEG ratio of 3.81 and a beta of 1.55.

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

Insider Activity at Medpace

In other Medpace news, Director Fred B. Davenport, Jr. sold 1,712 shares of the company’s stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $301.82, for a total transaction of $516,715.84. Following the sale, the director now directly owns 2,998 shares in the company, valued at $904,856.36. This represents a 36.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 20.30% of the stock is owned by insiders.

About Medpace

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.