Burney Co. Sells 30 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Burney Co. lowered its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 2.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,027 shares of the company’s stock after selling 30 shares during the period. Burney Co.’s holdings in Medpace were worth $423,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Rise Advisors LLC bought a new position in Medpace during the first quarter valued at about $27,000. Mather Group LLC. bought a new position in shares of Medpace during the 1st quarter valued at approximately $28,000. GAMMA Investing LLC purchased a new stake in shares of Medpace during the 4th quarter worth approximately $30,000. Fidelis Capital Partners LLC bought a new stake in shares of Medpace in the 1st quarter worth approximately $31,000. Finally, J.Safra Asset Management Corp lifted its stake in Medpace by 87.0% in the first quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock valued at $41,000 after purchasing an additional 47 shares during the last quarter. Institutional investors own 77.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on MEDP shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Guggenheim cut their price target on shares of Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. William Blair reissued an “outperform” rating on shares of Medpace in a research note on Tuesday, July 23rd. Truist Financial began coverage on shares of Medpace in a research note on Thursday, August 1st. They issued a “hold” rating and a $415.00 target price on the stock. Finally, TD Cowen cut their target price on Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $423.00.

Medpace Stock Down 4.0 %

NASDAQ:MEDP traded down $15.07 on Thursday, hitting $365.94. The stock had a trading volume of 503,116 shares, compared to its average volume of 242,836. Medpace Holdings, Inc. has a 52-week low of $227.21 and a 52-week high of $459.77. The stock has a market cap of $11.34 billion, a price-to-earnings ratio of 38.84, a price-to-earnings-growth ratio of 2.00 and a beta of 1.36. The business’s 50-day simple moving average is $398.81 and its two-hundred day simple moving average is $396.67.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The firm had revenue of $528.10 million during the quarter, compared to the consensus estimate of $528.41 million. During the same quarter in the previous year, the firm posted $1.93 EPS. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Medpace Holdings, Inc. will post 11.66 EPS for the current year.

About Medpace

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.