Trust Point Inc. Has $935,000 Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Trust Point Inc. lessened its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 36.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 3,068 shares of the company’s stock after selling 1,760 shares during the quarter. Trust Point Inc.’s holdings in Medpace were worth $935,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sone Capital Management LLC acquired a new stake in Medpace during the 4th quarter valued at approximately $1,318,000. Sanctuary Advisors LLC increased its position in Medpace by 20.5% during the 4th quarter. Sanctuary Advisors LLC now owns 4,964 shares of the company’s stock valued at $1,738,000 after purchasing an additional 844 shares during the period. Truist Financial Corp increased its position in Medpace by 166.2% during the 4th 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 during the period. Charles Schwab Investment Management Inc. increased its position in Medpace by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 201,046 shares of the company’s stock valued at $66,794,000 after purchasing an additional 2,142 shares during the period. Finally, Congress Asset Management Co. increased its position in Medpace by 14.7% during the 4th quarter. Congress Asset Management Co. now owns 53,696 shares of the company’s stock valued at $17,839,000 after purchasing an additional 6,878 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Stock Down 1.9%

Shares of MEDP opened at $298.25 on Monday. Medpace Holdings, Inc. has a 12-month low of $250.05 and a 12-month high of $459.77. The business’s fifty day moving average is $298.85 and its 200 day moving average is $322.54. The stock has a market cap of $8.57 billion, a P/E ratio of 23.61, a P/E/G ratio of 3.81 and a beta of 1.47.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.06 by $0.61. Medpace had a return on equity of 51.48% and a net margin of 19.17%. The company had revenue of $558.57 million for the quarter, compared to analysts’ expectations of $528.38 million. During the same period last year, the business earned $3.20 EPS. On average, analysts expect that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Insider Buying and Selling

In other Medpace 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 transaction of $516,715.84. Following the transaction, the director now directly owns 2,998 shares in the company, valued at approximately $904,856.36. This trade represents a 36.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 20.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Robert W. Baird decreased their target price 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. TD Cowen downgraded shares of Medpace from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $370.00 to $328.00 in a research report on Monday, April 14th. Truist Financial reduced their price objective on shares of Medpace from $333.00 to $300.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Leerink Partners initiated 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 for the company. Finally, William Blair reaffirmed a “market perform” rating on shares of Medpace in a research report on Tuesday, April 22nd. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Medpace currently has an average rating of “Hold” and an average price target of $349.30.

Medpace 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.