Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Sold by Argent Capital Management LLC

Argent Capital Management LLC reduced its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 49.8% during the fourth quarter, HoldingsChannel reports. The firm owned 46,078 shares of the company’s stock after selling 45,654 shares during the quarter. Argent Capital Management LLC’s holdings in Medpace were worth $15,308,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. State Street Corp increased its stake in Medpace by 7.2% during the third quarter. State Street Corp now owns 752,957 shares of the company’s stock valued at $251,337,000 after purchasing an additional 50,312 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Medpace by 7.6% in the 3rd quarter. Geode Capital Management LLC now owns 628,054 shares of the company’s stock valued at $209,885,000 after acquiring an additional 44,371 shares during the last quarter. Wellington Management Group LLP raised its holdings in Medpace by 36.0% during the 3rd quarter. Wellington Management Group LLP now owns 415,255 shares of the company’s stock worth $138,612,000 after buying an additional 109,886 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Medpace by 55.1% in the 2nd quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock valued at $166,343,000 after purchasing an additional 143,481 shares during the period. Finally, American Capital Management Inc. increased its holdings in shares of Medpace by 2.6% in the 3rd quarter. American Capital Management Inc. now owns 380,646 shares of the company’s stock valued at $127,060,000 after purchasing an additional 9,592 shares during the period. 77.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. UBS Group cut Medpace from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $420.00 to $350.00 in a research report on Friday, September 27th. TD Cowen dropped their price objective on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. William Blair restated an “outperform” rating on shares of Medpace in a research note on Tuesday, October 22nd. Baird R W cut Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Truist Financial cut their price objective on Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $380.56.

Medpace Stock Performance

NASDAQ:MEDP opened at $335.23 on Thursday. Medpace Holdings, Inc. has a 52-week low of $277.72 and a 52-week high of $459.77. The firm has a market cap of $10.42 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 1.80 and a beta of 1.36. The business’s fifty day moving average is $341.36 and its 200 day moving average is $358.26.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.24. The firm had revenue of $533.32 million during the quarter, compared to analysts’ expectations of $540.99 million. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.22 EPS. Equities analysts predict that Medpace Holdings, Inc. will post 11.93 EPS 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.