Pictet Asset Management Holding SA Sells 3,401 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Pictet Asset Management Holding SA trimmed its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 6.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 53,584 shares of the company’s stock after selling 3,401 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Medpace were worth $17,802,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MEDP. Proficio Capital Partners LLC increased its stake in shares of Medpace by 34,497.4% in 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 position in Medpace in the fourth quarter valued at about $78,144,000. Norges Bank acquired a new position in Medpace during the fourth quarter worth about $69,859,000. Iron Triangle Partners LP bought a new position in shares of Medpace in the third quarter worth about $64,371,000. Finally, GW&K Investment Management LLC boosted its stake in shares of Medpace by 93.9% in the 4th 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 currently owned by institutional investors and hedge funds.

Medpace Stock Performance

NASDAQ:MEDP opened at $297.73 on Wednesday. The company has a market capitalization of $9.07 billion, a PE ratio of 23.57, a P/E/G ratio of 3.81 and a beta of 1.47. Medpace Holdings, Inc. has a fifty-two week low of $289.01 and a fifty-two week high of $459.77. The company has a 50 day simple moving average of $334.26 and a two-hundred day simple moving average of $338.52.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, February 10th. The company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $2.96 by $0.71. Medpace had a net margin of 19.17% and a return on equity of 51.48%. Research analysts predict that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on MEDP shares. Leerink Partners began coverage on shares of Medpace in a research note on Monday, March 24th. They issued a “market perform” rating and a $330.00 price objective for the company. Leerink Partnrs upgraded Medpace to a “hold” rating in a research note on Monday, March 24th. Finally, Robert W. Baird boosted their price objective on Medpace from $354.00 to $362.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $376.30.

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.