Sawgrass Asset Management LLC Reduces Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Sawgrass Asset Management LLC reduced its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 23.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 608 shares of the company’s stock after selling 185 shares during the period. Sawgrass Asset Management LLC’s holdings in Medpace were worth $202,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Iron Triangle Partners LP acquired a new stake in Medpace in the 3rd quarter valued at about $64,371,000. Wellington Management Group LLP increased its holdings in shares of Medpace by 36.0% in the third quarter. Wellington Management Group LLP now owns 415,255 shares of the company’s stock valued at $138,612,000 after purchasing an additional 109,886 shares during the last quarter. DF Dent & Co. Inc. increased its holdings in shares of Medpace by 189.9% in the third quarter. DF Dent & Co. Inc. now owns 161,298 shares of the company’s stock valued at $53,841,000 after purchasing an additional 105,659 shares during the last quarter. Argent Capital Management LLC boosted its stake in Medpace by 431.5% during the third quarter. Argent Capital Management LLC now owns 91,732 shares of the company’s stock worth $30,620,000 after buying an additional 74,473 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in Medpace in the 3rd quarter valued at $23,321,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Medpace Stock Up 1.8 %

MEDP opened at $342.41 on Friday. Medpace Holdings, Inc. has a 52 week low of $302.01 and a 52 week high of $459.77. The business has a fifty day simple moving average of $343.70 and a 200-day simple moving average of $348.88. The firm has a market cap of $10.64 billion, a P/E ratio of 29.98, a P/E/G ratio of 1.85 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, February 10th. The company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.71. Medpace had a return on equity of 50.87% and a net margin of 17.66%. Sell-side analysts expect that Medpace Holdings, Inc. will post 11.93 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. William Blair reiterated an “outperform” rating on shares of Medpace in a report on Tuesday, October 22nd. Baird R W downgraded shares of Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Robert W. Baird increased their price target on shares of Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Finally, TD Cowen reduced their price target on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $381.44.

About Medpace

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.