Bank of New York Mellon Corp Sells 2,308 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Bank of New York Mellon Corp cut its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 1.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 199,981 shares of the company’s stock after selling 2,308 shares during the period. Bank of New York Mellon Corp’s holdings in Medpace were worth $66,440,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. R Squared Ltd bought a new position in Medpace during the fourth quarter valued at approximately $30,000. Stone House Investment Management LLC purchased a new stake in shares of Medpace in the 3rd quarter valued at $33,000. Ashton Thomas Securities LLC bought a new position in shares of Medpace during the 3rd quarter valued at $37,000. Capital Performance Advisors LLP purchased a new position in Medpace in the 3rd quarter worth $46,000. Finally, True Wealth Design LLC lifted its stake in Medpace by 16,800.0% in the third quarter. True Wealth Design LLC now owns 169 shares of the company’s stock worth $56,000 after purchasing an additional 168 shares during the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Robert W. Baird raised their price objective on Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Medpace currently has an average rating of “Hold” and an average price target of $381.44.

Medpace Trading Down 2.5 %

Shares of NASDAQ:MEDP opened at $319.17 on Tuesday. The company has a 50-day moving average price of $342.26 and a 200-day moving average price of $344.70. The company has a market cap of $9.72 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 3.81 and a beta of 1.36. Medpace Holdings, Inc. has a 12 month low of $302.01 and a 12 month high of $459.77.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, February 10th. The company reported $3.67 EPS for the quarter, beating 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, research analysts forecast that Medpace Holdings, Inc. will post 12.29 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.