Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC cut its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 4.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,059 shares of the company’s stock after selling 282 shares during the period. NFJ Investment Group LLC’s holdings in Medpace were worth $2,022,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cetera Advisors LLC boosted its holdings in Medpace by 162.4% in the first quarter. Cetera Advisors LLC now owns 2,608 shares of the company’s stock valued at $1,054,000 after purchasing an additional 1,614 shares during the period. Baillie Gifford & Co. boosted its holdings in Medpace by 175.6% in the third quarter. Baillie Gifford & Co. now owns 14,876 shares of the company’s stock valued at $4,966,000 after purchasing an additional 9,478 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in Medpace by 6.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 45,473 shares of the company’s stock worth $15,179,000 after buying an additional 2,675 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in Medpace during the 3rd quarter worth about $1,306,000. Finally, US Bancorp DE lifted its holdings in Medpace by 59.3% during the 3rd quarter. US Bancorp DE now owns 8,100 shares of the company’s stock worth $2,704,000 after buying an additional 3,016 shares during the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MEDP has been the subject of a number of recent analyst reports. Robert W. Baird lifted their price target on Medpace from $349.00 to $354.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Jefferies Financial Group downgraded Medpace from a “buy” rating to a “hold” rating and decreased their price target for the stock from $415.00 to $345.00 in a report on Wednesday, September 25th. Redburn Atlantic initiated coverage on Medpace in a report on Monday, October 14th. They set a “buy” rating and a $404.00 price target for the company. Baird R W downgraded Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Truist Financial reduced their target price on Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a report on Monday, October 14th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Medpace currently has a consensus rating of “Hold” and an average price target of $380.56.

Medpace Trading Up 2.1 %

NASDAQ MEDP opened at $346.31 on Thursday. The business’s 50 day moving average is $337.61 and its two-hundred day moving average is $370.07. Medpace Holdings, Inc. has a 12-month low of $275.02 and a 12-month high of $459.77. The stock has a market capitalization of $10.76 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 1.89 and a beta of 1.37.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.24. The business had revenue of $533.32 million for the quarter, compared to analysts’ expectations of $540.99 million. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.22 EPS. Equities analysts forecast that Medpace Holdings, Inc. will post 11.93 earnings per share for the current fiscal year.

About Medpace

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.