Prudential PLC Sells 734 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Prudential PLC decreased its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 5.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,089 shares of the company’s stock after selling 734 shares during the quarter. Prudential PLC’s holdings in Medpace were worth $4,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of MEDP. Grant Private Wealth Management Inc purchased a new stake in Medpace during the fourth quarter valued at $279,000. Trexquant Investment LP raised its position in shares of Medpace by 130.6% during the 4th quarter. Trexquant Investment LP now owns 35,501 shares of the company’s stock valued at $11,794,000 after buying an additional 20,103 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Medpace in the 4th quarter valued at about $1,057,000. Geode Capital Management LLC grew its position in Medpace by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 656,130 shares of the company’s stock worth $218,031,000 after acquiring an additional 28,076 shares in the last quarter. Finally, Nemes Rush Group LLC bought a new stake in Medpace during the fourth quarter worth approximately $86,000. 77.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MEDP shares. Leerink Partnrs raised Medpace to a “hold” rating in a research note on Monday, March 24th. Leerink Partners began coverage on Medpace in a research report on Monday, March 24th. They issued a “market perform” rating and a $330.00 price target for the company. Finally, Robert W. Baird boosted their price objective on shares of Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $376.30.

Medpace Price Performance

MEDP stock opened at $287.11 on Friday. Medpace Holdings, Inc. has a 12 month low of $282.42 and a 12 month high of $459.77. The firm’s 50-day moving average is $331.56 and its 200 day moving average is $337.49. The company has a market capitalization of $8.75 billion, a PE ratio of 22.73, a P/E/G ratio of 3.81 and a beta of 1.45.

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

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.