Sone Capital Management LLC Purchases Shares of 3,968 Medpace Holdings, Inc. (NASDAQ:MEDP)

Sone Capital Management LLC purchased a new position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,968 shares of the company’s stock, valued at approximately $1,318,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Invesco Ltd. raised its position in shares of Medpace by 91.8% during the 4th quarter. Invesco Ltd. now owns 1,084,753 shares of the company’s stock worth $360,387,000 after acquiring an additional 519,186 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in Medpace by 34,497.4% during the fourth quarter. Proficio Capital Partners LLC now owns 242,528 shares of the company’s stock worth $80,575,000 after purchasing an additional 241,827 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Medpace during the 4th quarter worth approximately $78,144,000. Norges Bank purchased a new stake in shares of Medpace during the 4th quarter worth approximately $69,859,000. Finally, GW&K Investment Management LLC boosted its holdings in shares of Medpace by 93.9% in the 4th quarter. GW&K Investment Management LLC now owns 275,460 shares of the company’s stock valued at $91,516,000 after buying an additional 133,379 shares in the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

Medpace Stock Performance

MEDP stock opened at $305.66 on Monday. The stock has a market capitalization of $8.79 billion, a PE ratio of 24.20, a price-to-earnings-growth ratio of 3.81 and a beta of 1.55. The company has a fifty day moving average of $304.24 and a 200-day moving average of $327.86. Medpace Holdings, Inc. has a one year low of $250.05 and a one year high of $459.77.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.61. Medpace had a net margin of 19.17% and a return on equity of 51.48%. The firm had revenue of $558.57 million during the quarter, compared to analysts’ expectations of $528.38 million. During the same period in the prior year, the company posted $3.20 earnings per share. Equities analysts forecast that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of the stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $301.82, for a total value of $516,715.84. Following the completion of the transaction, the director now owns 2,998 shares in the company, valued at $904,856.36. This trade represents a 36.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 20.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on MEDP shares. Mizuho cut their price target on shares of Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. William Blair reaffirmed a “market perform” rating on shares of Medpace in a report on Tuesday, April 22nd. Robert W. Baird cut their target price on Medpace from $340.00 to $313.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. Leerink Partners started coverage on Medpace in a report on Monday, March 24th. They issued a “market perform” rating and a $330.00 target price for the company. Finally, Truist Financial dropped their price target on Medpace from $333.00 to $300.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $349.30.

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.