Pitcairn Co. Sells 43 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Pitcairn Co. reduced its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,393 shares of the company’s stock after selling 43 shares during the quarter. Pitcairn Co.’s holdings in Medpace were worth $795,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of MEDP. R Squared Ltd acquired a new stake in Medpace during the 4th quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Medpace during the fourth quarter worth $31,000. Jones Financial Companies Lllp lifted its position in 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 acquiring an additional 110 shares in the last quarter. Lindbrook Capital LLC increased its holdings in Medpace by 27.6% during the 4th quarter. Lindbrook Capital LLC now owns 134 shares of the company’s stock worth $45,000 after purchasing an additional 29 shares in the last quarter. Finally, Assetmark Inc. raised its stake in shares of Medpace by 20.1% in the 4th quarter. Assetmark Inc. now owns 173 shares of the company’s stock valued at $57,000 after purchasing an additional 29 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Stock Down 5.6 %

MEDP opened at $287.11 on Friday. The stock has a market capitalization of $8.75 billion, a price-to-earnings ratio of 22.73, a P/E/G ratio of 3.81 and a beta of 1.45. Medpace Holdings, Inc. has a twelve month low of $282.42 and a twelve month high of $459.77. The company has a 50-day simple moving average of $331.56 and a 200 day simple moving average of $337.60.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, February 10th. The company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $2.96 by $0.71. Medpace had a net margin of 19.17% and a return on equity of 51.48%. Sell-side analysts anticipate that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MEDP. Leerink Partners began coverage on Medpace in a report on Monday, March 24th. They set a “market perform” rating and a $330.00 price objective for the company. Robert W. Baird lifted their price objective on shares of Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Finally, Leerink Partnrs raised shares of Medpace to a “hold” rating in a research report on Monday, March 24th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $376.30.

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.