Summit Investment Advisors Inc. Cuts Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Summit Investment Advisors Inc. cut its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,105 shares of the company’s stock after selling 111 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Medpace were worth $1,696,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Pallas Capital Advisors LLC boosted its position in shares of Medpace by 179.7% during the 4th quarter. Pallas Capital Advisors LLC now owns 3,270 shares of the company’s stock worth $1,086,000 after purchasing an additional 2,101 shares in the last quarter. Barclays PLC boosted its holdings in Medpace by 71.9% during the third quarter. Barclays PLC now owns 19,781 shares of the company’s stock worth $6,603,000 after buying an additional 8,275 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in Medpace by 20.5% during the fourth quarter. Sanctuary Advisors LLC now owns 4,964 shares of the company’s stock worth $1,738,000 after buying an additional 844 shares in the last quarter. SYM FINANCIAL Corp acquired a new position in Medpace during the fourth quarter worth about $320,000. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new position in Medpace in the fourth quarter valued at about $9,335,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Price Performance

NASDAQ:MEDP opened at $305.00 on Wednesday. Medpace Holdings, Inc. has a 1-year low of $272.00 and a 1-year high of $459.77. The firm has a 50 day simple moving average of $321.46 and a 200-day simple moving average of $334.08. The firm has a market cap of $9.22 billion, a PE ratio of 24.15, a P/E/G ratio of 3.81 and a beta of 1.46.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, February 10th. The company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $2.96 by $0.71. Medpace had a return on equity of 51.48% and a net margin of 19.17%. As a group, sell-side analysts expect that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MEDP shares. TD Cowen cut Medpace from a “buy” rating to a “hold” rating and lowered their price target for the stock from $370.00 to $328.00 in a report on Monday. Mizuho lowered their target price on Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Leerink Partners began coverage on Medpace in a research note on Monday, March 24th. They set a “market perform” rating and a $330.00 price target for the company. Truist Financial lowered their price objective on shares of Medpace from $347.00 to $333.00 and set a “hold” rating on the stock in a research note on Thursday, April 10th. Finally, Leerink Partnrs upgraded shares of Medpace to a “hold” rating in a research report on Monday, March 24th. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $357.50.

Medpace Company 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.