Prudential Financial Inc. Sells 427 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Prudential Financial Inc. decreased its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 8.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,870 shares of the company’s stock after selling 427 shares during the quarter. Prudential Financial Inc.’s holdings in Medpace were worth $1,618,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Congress Wealth Management LLC DE raised its holdings in Medpace by 1.7% during the fourth quarter. Congress Wealth Management LLC DE now owns 12,288 shares of the company’s stock worth $4,082,000 after buying an additional 209 shares during the last quarter. Summit Creek Advisors LLC increased its position in shares of Medpace by 0.3% during the fourth quarter. Summit Creek Advisors LLC now owns 47,808 shares of the company’s stock worth $15,883,000 after acquiring an additional 146 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Medpace by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 2,570,770 shares of the company’s stock worth $854,087,000 after acquiring an additional 25,704 shares during the last quarter. LPL Financial LLC lifted its position in Medpace by 5.3% in the 4th quarter. LPL Financial LLC now owns 17,960 shares of the company’s stock valued at $6,010,000 after acquiring an additional 909 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Medpace during the 4th quarter valued at about $2,093,000. 77.98% of the stock is owned by institutional investors and hedge funds.

Medpace Stock Performance

Shares of NASDAQ:MEDP opened at $287.11 on Friday. The company has a market capitalization of $8.75 billion, a P/E ratio of 22.73, a price-to-earnings-growth ratio of 3.81 and a beta of 1.45. The company’s 50-day moving average is $331.56 and its 200 day moving average is $337.49. Medpace Holdings, Inc. has a fifty-two week low of $282.42 and a fifty-two week high of $459.77.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, February 10th. The company reported $3.67 earnings per share for the quarter, beating 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%. As a group, research analysts predict that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on MEDP shares. Robert W. Baird increased their price objective on Medpace from $354.00 to $362.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Leerink Partnrs raised Medpace to a “hold” rating in a research report on Monday, March 24th. Finally, Leerink Partners initiated coverage on shares of Medpace in a report on Monday, March 24th. They set a “market perform” rating and a $330.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Medpace currently has an average rating of “Hold” and a consensus 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.