Sawgrass Asset Management LLC Reduces Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Sawgrass Asset Management LLC cut its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 23.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 608 shares of the company’s stock after selling 185 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Medpace were worth $202,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Van ECK Associates Corp increased its stake in shares of Medpace by 34.7% in the fourth quarter. Van ECK Associates Corp now owns 27,260 shares of the company’s stock worth $9,057,000 after acquiring an additional 7,027 shares during the period. Davidson Capital Management Inc. grew its position in Medpace by 15.2% during the 4th quarter. Davidson Capital Management Inc. now owns 9,672 shares of the company’s stock worth $3,213,000 after purchasing an additional 1,279 shares during the period. Louisiana State Employees Retirement System grew its position in Medpace by 1.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 7,100 shares of the company’s stock worth $2,359,000 after purchasing an additional 100 shares during the period. Savant Capital LLC raised its stake in shares of Medpace by 81.9% during the 4th quarter. Savant Capital LLC now owns 8,755 shares of the company’s stock valued at $2,909,000 after buying an additional 3,943 shares during the last quarter. Finally, Kestra Private Wealth Services LLC lifted its holdings in shares of Medpace by 46.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 2,083 shares of the company’s stock valued at $692,000 after buying an additional 660 shares during the period. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MEDP. William Blair reiterated an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. Robert W. Baird raised their price objective 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. TD Cowen decreased their target price on shares of Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, Baird R W lowered shares of Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $381.44.

Medpace Stock Performance

Shares of NASDAQ MEDP opened at $342.41 on Friday. The firm has a market cap of $10.64 billion, a PE ratio of 29.98, a PEG ratio of 1.85 and a beta of 1.36. Medpace Holdings, Inc. has a one year low of $302.01 and a one year high of $459.77. The firm has a fifty day moving average of $343.70 and a 200 day moving average of $348.88.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, February 10th. The company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $2.96 by $0.71. Medpace had a net margin of 17.66% and a return on equity of 50.87%. On average, equities analysts predict that Medpace Holdings, Inc. will post 11.93 EPS for the current fiscal year.

About Medpace

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.