Asio Capital LLC Purchases New Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Asio Capital LLC acquired a new stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,264 shares of the company’s stock, valued at approximately $2,213,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vista Finance LLC grew its position in shares of Medpace by 6.9% during the first quarter. Vista Finance LLC now owns 1,113 shares of the company’s stock worth $339,000 after buying an additional 72 shares in the last quarter. Marshall Financial Group LLC raised its holdings in Medpace by 13.7% in the first quarter. Marshall Financial Group LLC now owns 2,935 shares of the company’s stock valued at $894,000 after acquiring an additional 354 shares in the last quarter. Abacus FCF Advisors LLC boosted its stake in Medpace by 72.7% during the 1st quarter. Abacus FCF Advisors LLC now owns 16,459 shares of the company’s stock valued at $5,015,000 after acquiring an additional 6,931 shares during the last quarter. GAMMA Investing LLC grew its holdings in Medpace by 37.1% during the 1st quarter. GAMMA Investing LLC now owns 307 shares of the company’s stock worth $94,000 after acquiring an additional 83 shares in the last quarter. Finally, Portside Wealth Group LLC grew its holdings in Medpace by 17.7% during the 1st quarter. Portside Wealth Group LLC now owns 1,063 shares of the company’s stock worth $324,000 after acquiring an additional 160 shares in the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MEDP has been the topic of a number of recent analyst reports. TD Cowen lowered shares of Medpace from a “buy” rating to a “hold” rating and cut their target price for the company from $370.00 to $328.00 in a research note on Monday, April 14th. Truist Financial cut their price objective on Medpace from $333.00 to $300.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. William Blair reaffirmed a “market perform” rating on shares of Medpace in a report on Tuesday, April 22nd. Leerink Partners began coverage on Medpace in a research report on Monday, March 24th. They issued a “market perform” rating and a $330.00 target price for the company. Finally, Mizuho dropped their price target on Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $349.30.

Insider Activity at Medpace

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of the business’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 transaction of $516,715.84. Following the sale, the director now owns 2,998 shares in the company, valued at $904,856.36. The trade was a 36.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.30% of the stock is currently owned by corporate insiders.

Medpace Price Performance

Shares of MEDP opened at $298.25 on Friday. The firm’s 50 day moving average is $298.85 and its 200-day moving average is $322.66. Medpace Holdings, Inc. has a 12-month low of $250.05 and a 12-month high of $459.77. The stock has a market capitalization of $8.57 billion, a P/E ratio of 23.61, a P/E/G ratio of 3.81 and a beta of 1.47.

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. The firm had revenue of $558.57 million for the quarter, compared to analyst estimates of $528.38 million. Medpace had a net margin of 19.17% and a return on equity of 51.48%. During the same quarter in the previous year, the business posted $3.20 earnings per share. As a group, equities research 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.