Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Sold by Spark Investment Management LLC
Spark Investment Management LLC cut its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 38.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,200 shares of the company’s stock after selling 21,100 shares during the period. Spark Investment Management LLC’s holdings in Medpace Holdings were worth $962,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Acadian Asset Management LLC increased its stake in shares of Medpace Holdings by 46.6% in the second quarter. Acadian Asset Management LLC now owns 485,638 shares of the company’s stock worth $14,084,000 after buying an additional 154,331 shares during the last quarter. Osborn Williams & Donohoe LLC acquired a new stake in shares of Medpace Holdings during the second quarter worth $326,000. Fisher Asset Management LLC increased its stake in shares of Medpace Holdings by 193.2% in the second quarter. Fisher Asset Management LLC now owns 104,289 shares of the company’s stock worth $3,024,000 after buying an additional 68,725 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Medpace Holdings by 497.9% in the first quarter. Goldman Sachs Group Inc. now owns 34,208 shares of the company’s stock worth $1,021,000 after buying an additional 28,487 shares during the last quarter. Finally, Credit Suisse AG acquired a new stake in shares of Medpace Holdings during the first quarter worth $231,000. Institutional investors and hedge funds own 17.33% of the company’s stock.
Shares of Medpace Holdings, Inc. (NASDAQ MEDP) opened at 30.89 on Friday. The company has a market cap of $1.22 billion and a P/E ratio of 54.38. Medpace Holdings, Inc. has a 12-month low of $21.76 and a 12-month high of $38.94. The stock’s 50 day moving average price is $29.09 and its 200 day moving average price is $29.44.
Medpace Holdings (NASDAQ:MEDP) last announced its earnings results on Monday, July 31st. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.08. Medpace Holdings had a return on equity of 9.32% and a net margin of 5.37%. The firm had revenue of $94.60 million during the quarter, compared to analyst estimates of $92.71 million. During the same quarter in the prior year, the company earned $0.45 EPS. The business’s revenue was up 2.1% compared to the same quarter last year. On average, analysts forecast that Medpace Holdings, Inc. will post $1.42 EPS for the current year.
MEDP has been the subject of several recent research reports. Zacks Investment Research upgraded Medpace Holdings from a “sell” rating to a “hold” rating and set a $33.00 price objective for the company in a report on Thursday, August 3rd. Jefferies Group LLC restated a “hold” rating and set a $31.00 price objective (up previously from $30.00) on shares of Medpace Holdings in a report on Wednesday, August 2nd. Credit Suisse Group restated an “outperform” rating and set a $36.00 price objective (up previously from $35.00) on shares of Medpace Holdings in a report on Tuesday, June 6th. ValuEngine downgraded Medpace Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Finally, Wells Fargo & Company downgraded Medpace Holdings from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 3rd. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $34.00.
About Medpace Holdings
Medpace Holdings, Inc is a clinical contract research organization. The Company provides clinical research-based drug and medical device development services. The Company partners with pharmaceutical, biotechnology, and medical device companies in the development and execution of clinical trials. The Company’s drug development services focus on full service Phase I-IV clinical development services and include development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support.
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