Sheets Smith Wealth Management Raises Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Sheets Smith Wealth Management increased its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 4.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,289 shares of the company’s stock after purchasing an additional 144 shares during the quarter. Sheets Smith Wealth Management’s holdings in Medpace were worth $1,002,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Medpace during the fourth quarter worth $31,000. Jones Financial Companies Lllp boosted its stake in shares of Medpace by 2,750.0% in the 4th quarter. Jones Financial Companies Lllp now owns 114 shares of the company’s stock valued at $38,000 after purchasing an additional 110 shares in the last quarter. Lindbrook Capital LLC boosted its position in Medpace by 27.6% during the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company’s stock valued at $45,000 after buying an additional 29 shares during the period. Assetmark Inc. grew its position in Medpace by 20.1% during the 4th quarter. Assetmark Inc. now owns 173 shares of the company’s stock worth $57,000 after acquiring an additional 29 shares during the last quarter. Finally, Colonial Trust Co SC grew its holdings in shares of Medpace by 150.0% in the fourth quarter. Colonial Trust Co SC now owns 175 shares of the company’s stock worth $58,000 after purchasing an additional 105 shares during the last quarter. 77.98% of the stock is owned by institutional investors.

Insider Transactions at Medpace

In other Medpace news, Director Fred B. Davenport, Jr. sold 1,712 shares of the company’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 approximately $904,856.36. This represents a 36.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 20.30% of the company’s stock.

Medpace Stock Down 0.2%

Shares of MEDP opened at $308.64 on Tuesday. The business has a fifty day moving average of $299.94 and a 200 day moving average of $320.87. The company has a market cap of $8.87 billion, a PE ratio of 23.56, a P/E/G ratio of 5.58 and a beta of 1.47. Medpace Holdings, Inc. has a 52-week low of $250.05 and a 52-week high of $459.77.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data 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 company had revenue of $558.57 million for the quarter, compared to analyst estimates of $528.38 million. Medpace had a net margin of 19.31% and a return on equity of 54.36%. During the same period in the prior year, the company posted $3.20 EPS. As a group, research analysts anticipate that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on MEDP shares. Robert W. Baird reduced their price objective on shares of Medpace from $340.00 to $313.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. Truist Financial lowered their price objective on Medpace from $333.00 to $300.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. Leerink Partnrs upgraded shares of Medpace to a “hold” rating in a research note on Monday, March 24th. Leerink Partners began coverage on Medpace in a research report on Monday, March 24th. They set a “market perform” rating and a $330.00 price objective on the stock. Finally, William Blair reaffirmed a “market perform” rating on shares of Medpace in a research report on Tuesday, April 22nd. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.