Canada Pension Plan Investment Board Cuts Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Canada Pension Plan Investment Board trimmed its stake in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 22.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,500 shares of the company's stock after selling 12,500 shares during the period. Canada Pension Plan Investment Board owned about 0.14% of Medpace worth $14,452,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in shares of Medpace by 91.8% during the fourth quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock worth $360,387,000 after buying an additional 519,186 shares in the last quarter. 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 acquiring an additional 241,827 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Medpace in the fourth quarter worth $78,144,000. Norges Bank acquired a new stake in Medpace during the 4th quarter worth $69,859,000. Finally, GW&K Investment Management LLC lifted its holdings in shares of Medpace by 93.9% during 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.

Wall Street Analyst Weigh In

MEDP has been the subject of a number of recent research reports. Leerink Partnrs raised Medpace to a "hold" rating in a research report on Monday, March 24th. Mizuho dropped their price objective on Medpace from $400.00 to $355.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Truist Financial cut their target price on shares of Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a research note on Wednesday. William Blair reaffirmed a "market perform" rating on shares of Medpace in a report on Tuesday. Finally, Leerink Partners started coverage on shares of Medpace in a report on Monday, March 24th. They set a "market perform" rating and a $330.00 target price on the stock. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $349.30.

Medpace Stock Performance

Shares of MEDP stock traded up $8.94 on Wednesday, hitting $291.22. 1,419,454 shares of the company's stock traded hands, compared to its average volume of 338,215. Medpace Holdings, Inc. has a one year low of $250.05 and a one year high of $459.77. The company's fifty day simple moving average is $315.38 and its 200 day simple moving average is $332.24. The stock has a market capitalization of $8.80 billion, a price-to-earnings ratio of 23.06, a P/E/G ratio of 3.81 and a beta of 1.46.

Medpace (NASDAQ:MEDP - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.06 by $0.61. Medpace had a net margin of 19.17% and a return on equity of 51.48%. The company had revenue of $558.57 million during the quarter, compared to the consensus estimate of $528.38 million. During the same period in the prior year, the firm earned $3.20 earnings per share. As a group, sell-side analysts anticipate that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Medpace 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.