Steel Grove Capital Advisors LLC Reduces Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Steel Grove Capital Advisors LLC decreased its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 21.7% during the 4th quarter, HoldingsChannel reports. The fund owned 783 shares of the company’s stock after selling 217 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Medpace were worth $240,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Procyon Advisors LLC raised its position in Medpace by 11.8% in the fourth quarter. Procyon Advisors LLC now owns 2,388 shares of the company’s stock valued at $732,000 after purchasing an additional 252 shares during the period. Portside Wealth Group LLC boosted its position in shares of Medpace by 14.8% during the 4th quarter. Portside Wealth Group LLC now owns 1,419 shares of the company’s stock worth $435,000 after purchasing an additional 183 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in Medpace in the fourth quarter valued at approximately $322,000. Raymond James & Associates lifted its stake in Medpace by 15.1% during the fourth quarter. Raymond James & Associates now owns 47,009 shares of the company’s stock worth $14,410,000 after purchasing an additional 6,177 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Medpace by 32.1% during the fourth quarter. SG Americas Securities LLC now owns 3,323 shares of the company’s stock worth $1,019,000 after buying an additional 808 shares during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MEDP shares. Deutsche Bank Aktiengesellschaft initiated coverage on Medpace in a research note on Monday, March 18th. They set a “hold” rating and a $395.00 target price on the stock. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a report on Saturday, March 23rd. UBS Group raised Medpace from a “neutral” rating to a “buy” rating and increased their target price for the company from $282.00 to $452.00 in a report on Thursday, February 15th. Finally, Robert W. Baird increased their price target on shares of Medpace from $312.00 to $408.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Medpace has an average rating of “Moderate Buy” and an average price target of $382.00.

Insider Buying and Selling

In other news, Director Ashley M. Keating sold 250 shares of Medpace stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $409.87, for a total value of $102,467.50. Following the sale, the director now owns 250 shares of the company’s stock, valued at $102,467.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Ashley M. Keating sold 250 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $409.87, for a total transaction of $102,467.50. Following the completion of the transaction, the director now directly owns 250 shares of the company’s stock, valued at approximately $102,467.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Susan E. Burwig sold 102 shares of Medpace stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $403.00, for a total value of $41,106.00. Following the completion of the sale, the vice president now owns 15,181 shares in the company, valued at $6,117,943. The disclosure for this sale can be found here. Insiders sold a total of 189,340 shares of company stock valued at $76,651,647 over the last three months. 25.70% of the stock is currently owned by company insiders.

Medpace Trading Up 0.6 %

Shares of Medpace stock traded up $2.55 during trading on Thursday, reaching $405.82. The company’s stock had a trading volume of 89,002 shares, compared to its average volume of 249,819. Medpace Holdings, Inc. has a fifty-two week low of $181.50 and a fifty-two week high of $419.42. The firm has a market cap of $12.48 billion, a PE ratio of 45.41, a P/E/G ratio of 2.13 and a beta of 1.38. The company has a 50-day moving average price of $364.20 and a two-hundred day moving average price of $304.29.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, February 12th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.24. The firm had revenue of $498.40 million for the quarter, compared to analyst estimates of $498.72 million. Medpace had a return on equity of 63.98% and a net margin of 15.00%. The business’s revenue was up 26.5% on a year-over-year basis. During the same quarter last year, the company posted $2.12 earnings per share. On average, analysts predict that Medpace Holdings, Inc. will post 10.53 earnings per share for the current fiscal year.

Medpace Profile

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.