Procyon Advisors LLC Sells 125 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Procyon Advisors LLC lessened its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 13.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 828 shares of the company’s stock after selling 125 shares during the period. Procyon Advisors LLC’s holdings in Medpace were worth $275,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Stone House Investment Management LLC acquired a new position in Medpace in the third quarter valued at approximately $33,000. Ashton Thomas Securities LLC acquired a new position in Medpace in the third quarter valued at about $37,000. Capital Performance Advisors LLP bought a new stake in Medpace during the 3rd quarter worth approximately $46,000. True Wealth Design LLC raised its holdings in shares of Medpace by 16,800.0% during the third quarter. True Wealth Design LLC now owns 169 shares of the company’s stock worth $56,000 after acquiring an additional 168 shares during the period. Finally, UMB Bank n.a. lifted its holdings in shares of Medpace by 191.4% in the third quarter. UMB Bank n.a. now owns 271 shares of the company’s stock valued at $90,000 after purchasing an additional 178 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.

Medpace Price Performance

Shares of Medpace stock opened at $337.35 on Monday. Medpace Holdings, Inc. has a fifty-two week low of $284.32 and a fifty-two week high of $459.77. The firm has a market capitalization of $10.48 billion, a P/E ratio of 29.54, a P/E/G ratio of 1.80 and a beta of 1.36. The company’s 50 day moving average price is $340.52 and its two-hundred day moving average price is $356.98.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.24. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The firm had revenue of $533.32 million for the quarter, compared to analyst estimates of $540.99 million. During the same period in the previous year, the firm posted $2.22 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts expect that Medpace Holdings, Inc. will post 11.93 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on MEDP. Redburn Atlantic initiated coverage on shares of Medpace in a report on Monday, October 14th. They set a “buy” rating and a $404.00 target price for the company. Baird R W cut Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Robert W. Baird boosted their price objective on Medpace from $349.00 to $354.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. William Blair restated an “outperform” rating on shares of Medpace in a research note on Tuesday, October 22nd. Finally, TD Cowen lowered their price objective on Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Medpace presently has an average rating of “Hold” and a consensus target price of $380.56.

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.