Synovus Financial Corp Decreases Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Synovus Financial Corp trimmed its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 12.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,501 shares of the company’s stock after selling 209 shares during the period. Synovus Financial Corp’s holdings in Medpace were worth $499,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. R Squared Ltd bought a new position in Medpace during the 4th quarter worth approximately $30,000. SBI Securities Co. Ltd. bought a new position in shares of Medpace in the fourth quarter worth approximately $31,000. Jones Financial Companies Lllp increased its stake in shares of Medpace by 2,750.0% in the fourth quarter. Jones Financial Companies Lllp now owns 114 shares of the company’s stock worth $38,000 after buying an additional 110 shares during the period. Lindbrook Capital LLC raised its holdings in Medpace by 27.6% during the 4th quarter. Lindbrook Capital LLC now owns 134 shares of the company’s stock valued at $45,000 after buying an additional 29 shares during the last quarter. Finally, Assetmark Inc. boosted its position in Medpace by 20.1% during the 4th quarter. Assetmark Inc. now owns 173 shares of the company’s stock valued at $57,000 after buying an additional 29 shares during the period. 77.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MEDP. Leerink Partnrs upgraded shares of Medpace to a “hold” rating in a research report on Monday, March 24th. TD Cowen lowered Medpace from a “buy” rating to a “hold” rating and lowered their price target for the company from $370.00 to $328.00 in a research report on Monday. Leerink Partners began coverage on Medpace in a research report on Monday, March 24th. They issued a “market perform” rating and a $330.00 price objective on the stock. Robert W. Baird upped their target price on Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Finally, Mizuho cut their price target on shares of Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Medpace currently has a consensus rating of “Hold” and a consensus price target of $357.50.

Medpace Price Performance

Shares of Medpace stock opened at $296.28 on Friday. Medpace Holdings, Inc. has a 1 year low of $272.00 and a 1 year high of $459.77. The company has a 50-day moving average of $319.15 and a 200 day moving average of $333.57. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of 23.46, a PEG 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 EPS for the quarter, topping analysts’ consensus estimates of $2.96 by $0.71. Medpace had a return on equity of 51.48% and a net margin of 19.17%. On average, equities analysts anticipate that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

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.