Pictet Asset Management Holding SA Has $17.80 Million Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Pictet Asset Management Holding SA cut its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,584 shares of the company’s stock after selling 3,401 shares during the period. Pictet Asset Management Holding SA owned about 0.17% of Medpace worth $17,802,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. New Age Alpha Advisors LLC bought a new stake in Medpace during the 4th quarter worth about $1,886,000. Norges Bank bought a new stake in Medpace during the fourth quarter worth about $69,859,000. WINTON GROUP Ltd boosted its position in Medpace by 43.0% during the fourth quarter. WINTON GROUP Ltd now owns 3,343 shares of the company’s stock valued at $1,111,000 after purchasing an additional 1,006 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in Medpace by 40.3% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 38,630 shares of the company’s stock valued at $12,834,000 after purchasing an additional 11,099 shares in the last quarter. Finally, Florida Financial Advisors LLC acquired a new position in shares of Medpace during the 4th quarter worth approximately $229,000. Institutional investors own 77.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MEDP. Leerink Partners started coverage on Medpace in a report on Monday, March 24th. They issued 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 research report on Monday, January 27th. Finally, Leerink Partnrs raised shares of Medpace to a “hold” rating in a report on Monday, March 24th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $376.30.

Medpace Trading Down 2.3 %

NASDAQ:MEDP opened at $297.73 on Wednesday. The stock has a 50 day simple moving average of $334.26 and a 200 day simple moving average of $338.52. Medpace Holdings, Inc. has a 1-year low of $289.01 and a 1-year high of $459.77. The stock has a market cap of $9.07 billion, a P/E ratio of 23.57, a PEG ratio of 3.81 and a beta of 1.47.

Medpace (NASDAQ:MEDP) last posted its 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 return on equity of 51.48% and a net margin of 19.17%. As a group, sell-side analysts forecast that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

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.