Public Employees Retirement System of Ohio Cuts Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Public Employees Retirement System of Ohio cut its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 25.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,735 shares of the company's stock after selling 8,231 shares during the period. Public Employees Retirement System of Ohio owned about 0.08% of Medpace worth $8,257,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Sequoia Financial Advisors LLC lifted its stake in Medpace by 21.3% in the second quarter. Sequoia Financial Advisors LLC now owns 603 shares of the company's stock worth $248,000 after acquiring an additional 106 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Medpace by 106.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,343 shares of the company's stock valued at $553,000 after buying an additional 694 shares during the period. Blue Trust Inc. lifted its holdings in Medpace by 40.6% during the second quarter. Blue Trust Inc. now owns 561 shares of the company's stock worth $227,000 after buying an additional 162 shares during the period. Raymond James & Associates increased its holdings in shares of Medpace by 13.1% in the 2nd quarter. Raymond James & Associates now owns 54,735 shares of the company's stock valued at $22,543,000 after acquiring an additional 6,351 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in shares of Medpace by 6.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,011 shares of the company's stock worth $416,000 after acquiring an additional 65 shares in the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MEDP shares. UBS Group cut shares of Medpace from a "buy" rating to a "neutral" rating and lowered their price target for the company from $420.00 to $350.00 in a report on Friday, September 27th. Truist Financial decreased their price objective on Medpace from $415.00 to $397.00 and set a "hold" rating for the company in a report on Monday, October 14th. William Blair restated an "outperform" rating on shares of Medpace in a research note on Tuesday, October 22nd. Jefferies Financial Group downgraded Medpace from a "buy" rating to a "hold" rating and lowered their price target for the stock from $415.00 to $345.00 in a report on Wednesday, September 25th. Finally, Robert W. Baird upped their price target on shares of Medpace from $349.00 to $354.00 and gave the company a "neutral" rating in a research note on Monday, November 25th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $380.56.

Medpace Stock Performance

Medpace stock traded down $1.50 during midday trading on Friday, hitting $345.93. 275,170 shares of the company were exchanged, compared to its average volume of 282,165. Medpace Holdings, Inc. has a fifty-two week low of $277.72 and a fifty-two week high of $459.77. The firm has a market capitalization of $10.75 billion, a PE ratio of 30.22, a price-to-earnings-growth ratio of 1.89 and a beta of 1.37. The business has a fifty day simple moving average of $339.14 and a two-hundred day simple moving average of $368.27.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its quarterly earnings results on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.77 by $0.24. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The firm had revenue of $533.32 million for the quarter, compared to the consensus estimate of $540.99 million. During the same period in the prior year, the firm posted $2.22 earnings per share. The firm's quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities analysts expect that Medpace Holdings, Inc. will post 11.93 earnings per share for the current 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.