Corebridge Financial Inc. Reduces Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Corebridge Financial Inc. reduced its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,131 shares of the company’s stock after selling 1,230 shares during the period. Corebridge Financial Inc. owned 0.09% of Medpace worth $9,678,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd bought a new position in shares of Medpace during the fourth quarter valued at $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of Medpace during the fourth quarter valued at $31,000. Stone House Investment Management LLC bought a new stake in Medpace in the 3rd quarter worth about $33,000. Jones Financial Companies Lllp boosted 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 valued at $38,000 after acquiring an additional 110 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in Medpace by 27.6% in the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company’s stock worth $45,000 after purchasing an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Analyst Ratings Changes

MEDP has been the topic of several research analyst reports. Robert W. Baird increased their price target on Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Leerink Partners started coverage on Medpace in a research note on Monday. They set a “market perform” rating and a $330.00 price target for the company. Finally, Leerink Partnrs upgraded shares of Medpace to a “hold” rating in a research report on Monday. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Medpace has an average rating of “Hold” and an average target price of $376.30.

Medpace Price Performance

Shares of NASDAQ MEDP opened at $317.65 on Thursday. The stock has a market capitalization of $9.68 billion, a P/E ratio of 25.15, a PEG ratio of 3.81 and a beta of 1.47. Medpace Holdings, Inc. has a 1-year low of $302.01 and a 1-year high of $459.77. The business’s 50 day moving average is $336.81 and its two-hundred day moving average is $339.41.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, February 10th. The company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.96 by $0.71. Medpace had a net margin of 19.17% and a return on equity of 51.48%. As a group, equities research analysts anticipate that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

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.