Voya Financial Advisors Inc. Sells 115 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Voya Financial Advisors Inc. reduced its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 6.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,653 shares of the company’s stock after selling 115 shares during the period. Voya Financial Advisors Inc.’s holdings in Medpace were worth $551,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Medpace by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 2,570,770 shares of the company’s stock worth $854,087,000 after acquiring an additional 25,704 shares in the last quarter. Invesco Ltd. raised its position in Medpace by 91.8% in the 4th quarter. Invesco Ltd. now owns 1,084,753 shares of the company’s stock worth $360,387,000 after purchasing an additional 519,186 shares during the period. Wasatch Advisors LP raised its position in Medpace by 3.1% in the 4th quarter. Wasatch Advisors LP now owns 936,842 shares of the company’s stock worth $311,247,000 after purchasing an additional 28,161 shares during the period. Geode Capital Management LLC lifted its stake 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 purchasing an additional 28,076 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in Medpace by 15.0% during the fourth quarter. Bessemer Group Inc. now owns 576,044 shares of the company’s stock valued at $191,379,000 after buying an additional 75,275 shares during the period. 77.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. TD Cowen downgraded Medpace from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $370.00 to $328.00 in a report on Monday, April 14th. Leerink Partnrs raised Medpace to a “hold” rating in a research note on Monday, March 24th. William Blair reissued a “market perform” rating on shares of Medpace in a research note on Tuesday. Leerink Partners began coverage on shares of Medpace in a research note on Monday, March 24th. They issued a “market perform” rating and a $330.00 target price on the stock. Finally, Truist Financial lowered their price target on shares of Medpace from $333.00 to $300.00 and set a “hold” rating for the company in a report on Wednesday. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $349.30.

Medpace Trading Down 1.4 %

Shares of MEDP opened at $298.55 on Friday. Medpace Holdings, Inc. has a 1-year low of $250.05 and a 1-year high of $459.77. The firm’s 50-day moving average price is $313.79 and its 200-day moving average price is $331.76. The firm has a market capitalization of $9.02 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 3.81 and a beta of 1.46.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, April 21st. The company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.61. Medpace had a return on equity of 51.48% and a net margin of 19.17%. The business had revenue of $558.57 million for the quarter, compared to analysts’ expectations of $528.38 million. During the same period in the previous year, the firm posted $3.20 EPS. On average, 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.