Annex Advisory Services LLC Raises Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Annex Advisory Services LLC raised its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 13.8% during the first quarter, Holdings Channel.com reports. The fund owned 99,190 shares of the company’s stock after buying an additional 12,045 shares during the period. Annex Advisory Services LLC’s holdings in Medpace were worth $30,222,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Barclays PLC boosted its position in shares of Medpace by 71.9% during the third quarter. Barclays PLC now owns 19,781 shares of the company’s stock worth $6,603,000 after acquiring an additional 8,275 shares during the last quarter. Chicago Partners Investment Group LLC bought a new stake in Medpace in the 4th quarter valued at $298,000. Meritage Portfolio Management lifted its stake in Medpace by 4.6% in the 4th quarter. Meritage Portfolio Management now owns 3,211 shares of the company’s stock worth $1,067,000 after purchasing an additional 142 shares in the last quarter. Financial Advocates Investment Management bought a new position in shares of Medpace during the 4th quarter valued at about $423,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Medpace during the 4th quarter valued at about $532,000. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in 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. TD Cowen lowered shares of Medpace from a “buy” rating to a “hold” rating and lowered their price objective for the company from $370.00 to $328.00 in a research report on Monday, April 14th. William Blair reissued a “market perform” rating on shares of Medpace in a research note on Tuesday, April 22nd. Mizuho decreased their target price on shares of Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Finally, Robert W. Baird lowered their price target on shares of Medpace from $340.00 to $313.00 and set a “neutral” rating for the company in a report on Wednesday, April 23rd. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Medpace has a consensus rating of “Hold” and an average price target of $349.30.

Insider Transactions at Medpace

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

Medpace Price Performance

Shares of MEDP stock opened at $312.74 on Thursday. The stock’s 50-day moving average is $298.32 and its 200 day moving average is $324.17. Medpace Holdings, Inc. has a 1-year low of $250.05 and a 1-year high of $459.77. The company has a market cap of $8.99 billion, a P/E ratio of 24.76, a PEG ratio of 3.81 and a beta of 1.55.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, April 21st. The company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.61. Medpace had a net margin of 19.17% and a return on equity of 51.48%. The company had revenue of $558.57 million during the quarter, compared to the consensus estimate of $528.38 million. During the same period last year, the firm earned $3.20 earnings per share. On average, analysts anticipate 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.