Voya Financial Advisors Inc. Cuts Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Voya Financial Advisors Inc. decreased its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,653 shares of the company’s stock after selling 115 shares during the quarter. Voya Financial Advisors Inc.’s holdings in Medpace were worth $551,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MEDP. Invesco Ltd. grew its holdings in shares of Medpace by 91.8% during the fourth quarter. Invesco Ltd. now owns 1,084,753 shares of the company’s stock valued at $360,387,000 after buying an additional 519,186 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in Medpace by 34,497.4% during the 4th quarter. Proficio Capital Partners LLC now owns 242,528 shares of the company’s stock valued at $80,575,000 after purchasing an additional 241,827 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Medpace in the 4th quarter worth $78,144,000. Norges Bank purchased a new position in shares of Medpace in the fourth quarter worth $69,859,000. Finally, GW&K Investment Management LLC lifted its holdings in shares of Medpace by 93.9% during the fourth quarter. GW&K Investment Management LLC now owns 275,460 shares of the company’s stock valued at $91,516,000 after purchasing an additional 133,379 shares in the last quarter. 77.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. TD Cowen downgraded Medpace from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $370.00 to $328.00 in a report on Monday, April 14th. Leerink Partnrs upgraded shares of Medpace to a “hold” rating in a research note on Monday, March 24th. Mizuho lowered their price objective on shares of Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Robert W. Baird dropped their target price on shares of Medpace from $340.00 to $313.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Leerink Partners started coverage on shares of Medpace in a research note on Monday, March 24th. They set a “market perform” rating and a $330.00 target price for the company. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Medpace presently has an average rating of “Hold” and a consensus target price of $349.30.

Medpace Price Performance

Shares of Medpace stock opened at $298.55 on Friday. Medpace Holdings, Inc. has a 1-year low of $250.05 and a 1-year high of $459.77. The company’s fifty day simple moving average is $313.79 and its 200-day simple moving average is $331.76. The stock has a market capitalization of $9.02 billion, a PE ratio of 23.64, a P/E/G ratio of 3.81 and a beta of 1.46.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, April 21st. The company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.61. The company had revenue of $558.57 million for the quarter, compared to the consensus estimate of $528.38 million. Medpace had a return on equity of 51.48% and a net margin of 19.17%. During the same period in the previous year, the business earned $3.20 earnings per share. As a group, research 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.