McGuire Investment Group LLC Reduces Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)
McGuire Investment Group LLC reduced its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP – Get Rating) by 24.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,228 shares of the company’s stock after selling 15,180 shares during the quarter. Medpace comprises 2.2% of McGuire Investment Group LLC’s investment portfolio, making the stock its 18th biggest position. McGuire Investment Group LLC owned about 0.15% of Medpace worth $10,032,000 as of its most recent SEC filing.
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A number of other institutional investors also recently modified their holdings of MEDP. Rice Hall James & Associates LLC increased its holdings in Medpace by 12.1% during the 1st quarter. Rice Hall James & Associates LLC now owns 183,556 shares of the company’s stock worth $30,028,000 after acquiring an additional 19,884 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in Medpace by 28.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,581 shares of the company’s stock worth $259,000 after acquiring an additional 349 shares during the period. Cetera Advisor Networks LLC increased its holdings in Medpace by 26.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 2,304 shares of the company’s stock worth $377,000 after acquiring an additional 477 shares during the period. Rhumbline Advisers increased its holdings in Medpace by 2.4% during the 1st quarter. Rhumbline Advisers now owns 78,755 shares of the company’s stock worth $12,884,000 after acquiring an additional 1,827 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Medpace by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,537 shares of the company’s stock worth $1,724,000 after acquiring an additional 1,005 shares during the period. 82.49% of the stock is currently owned by hedge funds and other institutional investors.
Medpace Trading Down 1.9 %
Shares of NASDAQ:MEDP traded down $3.53 during trading on Friday, reaching $178.73. The company had a trading volume of 94,409 shares, compared to its average volume of 327,496. The company has a fifty day moving average of $212.62 and a two-hundred day moving average of $196.56. The stock has a market capitalization of $5.55 billion, a P/E ratio of 24.90 and a beta of 1.42. Medpace Holdings, Inc. has a 12 month low of $126.94 and a 12 month high of $241.48.
Medpace (NASDAQ:MEDP – Get Rating) last issued its quarterly earnings results on Monday, February 13th. The company reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.34. Medpace had a net margin of 16.81% and a return on equity of 60.42%. The firm had revenue of $394.10 million for the quarter, compared to analyst estimates of $386.09 million. During the same quarter in the prior year, the firm earned $1.32 EPS. The business’s revenue for the quarter was up 27.7% compared to the same quarter last year. As a group, equities research analysts predict that Medpace Holdings, Inc. will post 7.66 earnings per share for the current year.
Analyst Ratings Changes
A number of analysts recently weighed in on MEDP shares. StockNews.com started coverage on shares of Medpace in a report on Thursday. They set a “buy” rating on the stock. Robert W. Baird increased their price target on shares of Medpace from $226.00 to $233.00 and gave the stock a “neutral” rating in a report on Wednesday, February 15th.
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.
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