Riverbridge Partners LLC Has $146.59 Million Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Riverbridge Partners LLC decreased its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 7.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 481,126 shares of the company’s stock after selling 36,407 shares during the period. Medpace accounts for approximately 2.4% of Riverbridge Partners LLC’s holdings, making the stock its 8th largest position. Riverbridge Partners LLC owned approximately 1.59% of Medpace worth $146,594,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MEDP. SBI Securities Co. Ltd. bought a new position in Medpace during the fourth quarter worth about $31,000. Jones Financial Companies Lllp increased its holdings in shares of Medpace by 2,750.0% during the 4th quarter. Jones Financial Companies Lllp now owns 114 shares of the company’s stock worth $38,000 after acquiring an additional 110 shares during the last quarter. Lindbrook Capital LLC raised its stake in Medpace by 27.6% in the 4th quarter. Lindbrook Capital LLC now owns 134 shares of the company’s stock valued at $45,000 after acquiring an additional 29 shares during the period. Assetmark Inc. raised its stake in Medpace by 20.1% in the 4th quarter. Assetmark Inc. now owns 173 shares of the company’s stock valued at $57,000 after acquiring an additional 29 shares during the period. Finally, Colonial Trust Co SC raised its stake in Medpace by 150.0% in the 4th quarter. Colonial Trust Co SC now owns 175 shares of the company’s stock valued at $58,000 after acquiring an additional 105 shares during the period. Institutional investors own 77.98% of the company’s stock.

Medpace Price Performance

Medpace stock opened at $302.69 on Friday. The stock’s fifty day moving average price is $299.64 and its two-hundred day moving average price is $321.69. Medpace Holdings, Inc. has a one year low of $250.05 and a one year high of $459.77. The firm has a market cap of $8.70 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 5.46 and a beta of 1.47.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, April 21st. The company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.06 by $0.61. The business had revenue of $558.57 million during the quarter, compared to the consensus estimate of $528.38 million. Medpace had a return on equity of 54.36% and a net margin of 19.31%. During the same quarter in the previous year, the firm earned $3.20 earnings per share. Sell-side analysts expect that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Medpace news, Director Fred B. Davenport, Jr. sold 1,712 shares of Medpace stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $301.82, for a total transaction of $516,715.84. Following the transaction, the director now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 20.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MEDP shares. Mizuho dropped their price objective 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. Leerink Partnrs raised shares of Medpace to a “hold” rating in a report on Monday, March 24th. TD Cowen cut shares of Medpace from a “buy” rating to a “hold” rating and lowered their price target for the company from $370.00 to $328.00 in a report on Monday, April 14th. Leerink Partners began coverage on Medpace in a research note on Monday, March 24th. They set a “market perform” rating and a $330.00 target price on the stock. Finally, Truist Financial lowered their target price on Medpace from $333.00 to $300.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $349.30.

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.