California Public Employees Retirement System Reduces Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

California Public Employees Retirement System trimmed its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 6.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,217 shares of the company’s stock after selling 2,948 shares during the period. California Public Employees Retirement System owned approximately 0.14% of Medpace worth $14,690,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in Medpace during the 4th quarter valued at $30,000. SBI Securities Co. Ltd. bought a new position in Medpace in the fourth quarter valued at about $31,000. Jones Financial Companies Lllp lifted its holdings in Medpace by 2,750.0% in the fourth quarter. Jones Financial Companies Lllp now owns 114 shares of the company’s stock valued at $38,000 after acquiring an additional 110 shares during the period. Lindbrook Capital LLC boosted its position in Medpace by 27.6% in the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company’s stock worth $45,000 after purchasing an additional 29 shares during the last quarter. Finally, Assetmark Inc. grew its stake in shares of Medpace by 20.1% during the 4th quarter. Assetmark Inc. now owns 173 shares of the company’s stock valued at $57,000 after purchasing an additional 29 shares during the period. Institutional investors own 77.98% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on MEDP. Leerink Partnrs raised shares of Medpace to a “hold” rating in a report on Monday, March 24th. Robert W. Baird boosted their price objective on shares of Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Finally, Leerink Partners initiated coverage on Medpace in a report on Monday, March 24th. They issued a “market perform” rating and a $330.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $376.30.

Medpace Trading Down 5.6 %

NASDAQ:MEDP opened at $287.11 on Friday. The stock has a 50-day moving average price of $331.56 and a 200 day moving average price of $337.60. The stock has a market capitalization of $8.75 billion, a P/E ratio of 22.73, a P/E/G ratio of 3.81 and a beta of 1.45. Medpace Holdings, Inc. has a 12-month low of $282.42 and a 12-month high of $459.77.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, February 10th. The company reported $3.67 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts predict that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

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.