Amalgamated Bank Sells 599 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Amalgamated Bank lowered its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 4.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,878 shares of the company’s stock after selling 599 shares during the period. Amalgamated Bank’s holdings in Medpace were worth $3,619,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new position in shares of Medpace during the fourth quarter valued at approximately $31,000. Jones Financial Companies Lllp increased its position in Medpace by 2,750.0% during the 4th quarter. Jones Financial Companies Lllp now owns 114 shares of the company’s stock valued at $38,000 after buying an additional 110 shares in the last quarter. Lindbrook Capital LLC raised its stake in Medpace by 27.6% during the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company’s stock valued at $45,000 after buying an additional 29 shares during the last quarter. Assetmark Inc. raised its stake in Medpace by 20.1% during the fourth quarter. Assetmark Inc. now owns 173 shares of the company’s stock valued at $57,000 after buying an additional 29 shares during the last quarter. Finally, Colonial Trust Co SC boosted its holdings in Medpace by 150.0% in the fourth quarter. Colonial Trust Co SC now owns 175 shares of the company’s stock worth $58,000 after acquiring an additional 105 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.

Medpace Trading Down 1.4%

NASDAQ:MEDP opened at $321.50 on Friday. The company has a market cap of $9.24 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 5.88 and a beta of 1.47. The company has a 50 day simple moving average of $303.28 and a two-hundred day simple moving average of $319.53. Medpace Holdings, Inc. has a 12 month low of $250.05 and a 12 month high of $459.77.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.06 by $0.61. The firm had revenue of $558.57 million for the quarter, compared to the consensus estimate of $528.38 million. Medpace had a return on equity of 54.36% and a net margin of 19.31%. During the same period last year, the business posted $3.20 EPS. Research analysts forecast that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Insider Activity at Medpace

In related news, Director Fred B. Davenport, Jr. sold 1,712 shares of the firm’s stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $301.82, for a total value of $516,715.84. Following the transaction, the director owned 2,998 shares of the company’s stock, valued at approximately $904,856.36. This trade represents a 36.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 20.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Leerink Partnrs upgraded Medpace to a “hold” rating in a report on Monday, March 24th. TD Cowen downgraded shares of Medpace from a “buy” rating to a “hold” rating and cut their price objective for the company from $370.00 to $328.00 in a research report on Monday, April 14th. William Blair reaffirmed a “market perform” rating on shares of Medpace in a report on Tuesday, April 22nd. Barclays started coverage on shares of Medpace in a research note on Tuesday, June 24th. They issued an “equal weight” rating and a $300.00 target price on the stock. Finally, Truist Financial cut their price target on shares of Medpace from $333.00 to $300.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $344.82.

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.