Man Group plc Sells 52,679 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Man Group plc lowered its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 42.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,908 shares of the company’s stock after selling 52,679 shares during the period. Man Group plc owned approximately 0.23% of Medpace worth $23,558,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Barclays PLC boosted its position in Medpace by 71.9% during the 3rd quarter. Barclays PLC now owns 19,781 shares of the company’s stock valued at $6,603,000 after buying an additional 8,275 shares during the period. Sanctuary Advisors LLC increased its holdings in shares of Medpace by 20.5% during the fourth quarter. Sanctuary Advisors LLC now owns 4,964 shares of the company’s stock valued at $1,738,000 after acquiring an additional 844 shares in the last quarter. SYM FINANCIAL Corp purchased a new position in Medpace in the fourth quarter worth about $320,000. Tokio Marine Asset Management Co. Ltd. purchased a new position in Medpace in the 4th quarter worth approximately $9,335,000. Finally, Truist Financial Corp lifted its holdings in shares of Medpace by 166.2% during the fourth quarter. Truist Financial Corp now owns 10,277 shares of the company’s stock valued at $3,414,000 after purchasing an additional 6,417 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Insider Buying and Selling

In related news, Director Fred B. Davenport, Jr. sold 1,712 shares of the firm’s stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $301.82, for a total value of $516,715.84. Following the completion of the sale, the director now directly owns 2,998 shares in the company, valued at $904,856.36. This trade represents a 36.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 20.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. 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 on the stock. Leerink Partnrs raised Medpace to a “hold” rating in a report on Monday, March 24th. Truist Financial cut their price objective on Medpace from $333.00 to $300.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. William Blair reiterated a “market perform” rating on shares of Medpace in a research report on Tuesday, April 22nd. Finally, TD Cowen cut 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 research report on Monday, April 14th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Medpace presently has an average rating of “Hold” and a consensus target price of $349.30.

Medpace Stock Performance

MEDP stock opened at $296.41 on Friday. The firm has a fifty day moving average price of $304.65 and a 200 day moving average price of $327.86. Medpace Holdings, Inc. has a fifty-two week low of $250.05 and a fifty-two week high of $459.77. The firm has a market cap of $8.52 billion, a PE ratio of 23.47, a price-to-earnings-growth 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, topping analysts’ consensus estimates of $3.06 by $0.61. The firm had revenue of $558.57 million for the quarter, compared to the consensus estimate of $528.38 million. Medpace had a net margin of 19.17% and a return on equity of 51.48%. During the same period in the previous year, the firm posted $3.20 EPS. On average, equities 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.