Steel Grove Capital Advisors LLC Sells 217 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Steel Grove Capital Advisors LLC trimmed its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 21.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Portside Wealth Group LLC lifted 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 buying an additional 183 shares during the last quarter. Chase Investment Counsel Corp grew its holdings in shares of Medpace by 3.2% during the 3rd quarter. Chase Investment Counsel Corp now owns 9,849 shares of the company’s stock valued at $2,384,000 after purchasing an additional 301 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Medpace by 42.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,920 shares of the company’s stock valued at $4,823,000 after purchasing an additional 5,956 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Medpace by 164.6% during the third quarter. Federated Hermes Inc. now owns 29,075 shares of the company’s stock worth $7,040,000 after buying an additional 18,088 shares during the last quarter. Finally, Atria Investments Inc acquired a new position in shares of Medpace during the third quarter worth $1,013,000. Institutional investors own 77.98% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft started coverage on shares of Medpace in a report on Monday, March 18th. They issued a “hold” rating and a $395.00 target price on the stock. UBS Group upgraded Medpace from a “neutral” rating to a “buy” rating and increased their price target for the stock from $282.00 to $452.00 in a report on Thursday, February 15th. StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a research note on Saturday, March 23rd. Finally, Robert W. Baird increased their target price on shares of Medpace from $312.00 to $408.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $382.00.

Medpace Trading Up 0.6 %

Shares of NASDAQ MEDP traded up $2.55 during mid-day trading on Thursday, hitting $405.82. The company had a trading volume of 89,002 shares, compared to its average volume of 249,819. The company has a market capitalization of $12.48 billion, a price-to-earnings ratio of 45.41, a P/E/G ratio of 2.13 and a beta of 1.38. Medpace Holdings, Inc. has a 1 year low of $181.50 and a 1 year high of $419.42. The stock’s 50-day moving average price is $364.20 and its 200-day moving average price is $304.29.

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

Insiders Place Their Bets

In related news, major shareholder Medpace Investors, Llc sold 50,000 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $391.75, for a total transaction of $19,587,500.00. Following the completion of the sale, the insider now directly owns 5,539,947 shares in the company, valued at approximately $2,170,274,237.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Medpace news, CEO August J. Troendle sold 100,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total value of $41,298,000.00. Following the completion of the transaction, the chief executive officer now directly owns 4,833,019 shares in the company, valued at approximately $1,995,940,186.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Medpace Investors, Llc sold 50,000 shares of Medpace stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $391.75, for a total transaction of $19,587,500.00. Following the sale, the insider now directly owns 5,539,947 shares in the company, valued at approximately $2,170,274,237.25. The disclosure for this sale can be found here. Insiders have sold 189,340 shares of company stock valued at $76,651,647 in the last ninety days. Company insiders own 25.70% of the company’s stock.

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.