Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 90.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 39,135 shares of the company’s stock after selling 376,120 shares during the period. Wellington Management Group LLP’s holdings in Medpace were worth $13,002,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Joseph Group Capital Management lifted its holdings in shares of Medpace by 18.9% in the fourth quarter. Joseph Group Capital Management now owns 3,620 shares of the company’s stock valued at $1,203,000 after purchasing an additional 575 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of Medpace by 347.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 4,248 shares of the company’s stock valued at $1,411,000 after purchasing an additional 3,299 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Medpace in the fourth quarter valued at $1,886,000. Norges Bank purchased a new stake in shares of Medpace in the fourth quarter valued at $69,859,000. Finally, WINTON GROUP Ltd lifted its holdings in shares of Medpace by 43.0% in 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 in the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Price Performance

Medpace stock opened at $302.56 on Thursday. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 3.81 and a beta of 1.46. Medpace Holdings, Inc. has a one year low of $272.00 and a one year high of $459.77. The company’s fifty day moving average price is $325.79 and its two-hundred day moving average price is $335.08.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, February 10th. The company reported $3.67 EPS for the quarter, topping 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, sell-side analysts anticipate that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Mizuho reduced their target price on Medpace from $400.00 to $355.00 and set an “outperform” rating for the company in a report on Wednesday. Leerink Partners initiated coverage on shares of Medpace in a research note on Monday, March 24th. They issued a “market perform” rating and a $330.00 price target on the stock. Robert W. Baird upped their price target on shares of Medpace from $354.00 to $362.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Finally, Leerink Partnrs raised shares of Medpace to a “hold” rating in a research note on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $368.30.

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.