Front Row Advisors LLC Sells 1,650 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Front Row Advisors LLC lessened its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 15.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,286 shares of the company’s stock after selling 1,650 shares during the quarter. Medpace comprises 1.3% of Front Row Advisors LLC’s investment portfolio, making the stock its 15th biggest holding. Front Row Advisors LLC’s holdings in Medpace were worth $3,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in Medpace in the first quarter valued at approximately $27,000. Mather Group LLC. acquired a new stake in Medpace in the 1st quarter valued at $28,000. Fidelis Capital Partners LLC bought a new stake in Medpace during the 1st quarter valued at $31,000. J.Safra Asset Management Corp raised its holdings in Medpace by 87.0% during the first quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock worth $41,000 after buying an additional 47 shares during the last quarter. Finally, DT Investment Partners LLC bought a new position in shares of Medpace in the second quarter valued at $41,000. 77.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

MEDP has been the subject of several recent research reports. TD Cowen decreased their target price on shares of Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. UBS Group lowered Medpace from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $420.00 to $350.00 in a report on Friday. StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a research report on Friday. Robert W. Baird decreased their price target on Medpace from $430.00 to $413.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Finally, Jefferies Financial Group cut Medpace from a “buy” rating to a “hold” rating and dropped their price objective for the company from $415.00 to $345.00 in a research note on Wednesday. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $395.00.

Medpace Price Performance

Shares of Medpace stock opened at $331.44 on Friday. The firm has a market cap of $10.27 billion, a PE ratio of 33.79, a P/E/G ratio of 1.88 and a beta of 1.35. Medpace Holdings, Inc. has a 1 year low of $227.21 and a 1 year high of $459.77. The stock has a fifty day moving average price of $368.39 and a 200-day moving average price of $389.69.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The business had revenue of $528.10 million during the quarter, compared to the consensus estimate of $528.41 million. During the same quarter last year, the company posted $1.93 earnings per share. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. As a group, equities analysts anticipate that Medpace Holdings, Inc. will post 11.66 EPS for the current fiscal year.

Medpace Company Profile

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.