Medpace Holdings, Inc. (NASDAQ:MEDP) Holdings Lowered by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board decreased its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 55.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,605 shares of the company’s stock after selling 8,335 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Medpace were worth $2,205,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Cetera Advisors LLC increased its position in shares of Medpace by 162.4% in the first quarter. Cetera Advisors LLC now owns 2,608 shares of the company’s stock worth $1,054,000 after acquiring an additional 1,614 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of Medpace by 175.6% in the third quarter. Baillie Gifford & Co. now owns 14,876 shares of the company’s stock worth $4,966,000 after buying an additional 9,478 shares during the period. Natixis purchased a new position in shares of Medpace during the first quarter valued at $727,000. Virtu Financial LLC purchased a new position in shares of Medpace during the first quarter valued at $1,239,000. Finally, CWA Asset Management Group LLC purchased a new stake in Medpace in the 3rd quarter worth about $1,306,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Stock Performance

MEDP opened at $314.96 on Wednesday. The stock has a 50-day moving average of $340.65 and a 200-day moving average of $374.33. Medpace Holdings, Inc. has a 52-week low of $268.80 and a 52-week high of $459.77. The company has a market cap of $9.79 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 1.72 and a beta of 1.37.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. William Blair reissued an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Guggenheim dropped their price target on shares of Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Jefferies Financial Group downgraded Medpace from a “buy” rating to a “hold” rating and lowered their target price for the company from $415.00 to $345.00 in a research note on Wednesday, September 25th. Finally, Robert W. Baird lowered Medpace from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $413.00 to $349.00 in a research report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $380.00.

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.