Charles Schwab Investment Management Inc. lowered its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 198,904 shares of the company's stock after selling 7,576 shares during the period. Charles Schwab Investment Management Inc. owned 0.64% of Medpace worth $66,394,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Westwind Capital raised its stake in shares of Medpace by 800.1% during the 2nd quarter. Westwind Capital now owns 380,929 shares of the company's stock worth $156,886,000 after acquiring an additional 338,610 shares in the last quarter. Clearbridge Investments LLC grew its stake in Medpace by 55.1% during the 2nd quarter. Clearbridge Investments LLC now owns 403,892 shares of the company's stock worth $166,343,000 after buying an additional 143,481 shares during the last quarter. Renaissance Technologies LLC increased its position in Medpace by 38.3% during the 2nd quarter. Renaissance Technologies LLC now owns 443,588 shares of the company's stock valued at $182,692,000 after buying an additional 122,800 shares in the last quarter. AQR Capital Management LLC raised its stake in Medpace by 62.3% in the second quarter. AQR Capital Management LLC now owns 310,650 shares of the company's stock valued at $127,941,000 after buying an additional 119,257 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Medpace by 1,028.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 116,683 shares of the company's stock worth $48,056,000 after acquiring an additional 106,343 shares during the last quarter. Institutional investors own 77.98% of the company's stock.
Medpace Stock Performance
Shares of Medpace stock traded up $1.67 on Friday, hitting $340.63. The company's stock had a trading volume of 214,814 shares, compared to its average volume of 284,415. The company has a market capitalization of $10.59 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 1.88 and a beta of 1.37. The firm has a fifty day moving average price of $338.32 and a 200-day moving average price of $371.75. Medpace Holdings, Inc. has a 1 year low of $268.80 and a 1 year high of $459.77.
Medpace (NASDAQ:MEDP - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $540.99 million. Medpace had a net margin of 17.66% and a return on equity of 50.87%. Medpace's quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.22 EPS. As a group, analysts forecast that Medpace Holdings, Inc. will post 11.93 EPS for the current year.
Analysts Set New Price Targets
A number of analysts recently commented on MEDP shares. TD Cowen lowered their target price on shares of Medpace from $413.00 to $372.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd. StockNews.com cut Medpace from a "buy" rating to a "hold" rating in a research report on Friday, September 27th. Truist Financial cut their price objective on Medpace from $415.00 to $397.00 and set a "hold" rating on the stock in a report on Monday, October 14th. Baird R W downgraded Medpace from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group downgraded shares of Medpace from a "buy" rating to a "hold" rating and cut their price target for the stock from $415.00 to $345.00 in a report on Wednesday, September 25th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Medpace has an average rating of "Hold" and a consensus target price of $380.56.
Check Out Our Latest Report on MEDP
About Medpace
(
Free Report)
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.
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