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

Synovus Financial Corp lessened its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 13.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,710 shares of the company’s stock after selling 257 shares during the period. Synovus Financial Corp’s holdings in Medpace were worth $571,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC increased its stake in Medpace by 106.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,343 shares of the company’s stock worth $553,000 after purchasing an additional 694 shares during the period. Raymond James & Associates lifted its position in shares of Medpace by 13.1% during the second quarter. Raymond James & Associates now owns 54,735 shares of the company’s stock worth $22,543,000 after purchasing an additional 6,351 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Medpace by 6.9% during the second quarter. Nisa Investment Advisors LLC now owns 1,011 shares of the company’s stock worth $416,000 after purchasing an additional 65 shares during the last quarter. Atria Wealth Solutions Inc. lifted its position in shares of Medpace by 20.5% during the second quarter. Atria Wealth Solutions Inc. now owns 6,403 shares of the company’s stock worth $2,637,000 after purchasing an additional 1,089 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of Medpace during the second quarter worth $292,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Price Performance

MEDP opened at $348.48 on Wednesday. The business’s 50-day moving average is $339.75 and its two-hundred day moving average is $367.14. Medpace Holdings, Inc. has a 1 year low of $277.72 and a 1 year high of $459.77. The firm has a market capitalization of $10.83 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 1.89 and a beta of 1.37.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.24. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The company had revenue of $533.32 million for the quarter, compared to analyst estimates of $540.99 million. During the same quarter in the previous year, the firm earned $2.22 earnings per share. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, sell-side analysts expect that Medpace Holdings, Inc. will post 11.93 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Truist Financial decreased their target price on Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research report on Monday, October 14th. Baird R W downgraded Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Redburn Atlantic started coverage on Medpace in a research report on Monday, October 14th. They set a “buy” rating and a $404.00 target price for the company. Robert W. Baird raised their price target on Medpace from $349.00 to $354.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Finally, William Blair restated an “outperform” rating on shares of Medpace in a research note on Tuesday, October 22nd. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $380.56.

Medpace 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.