Ontario Teachers Pension Plan Board Sells 8,335 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Ontario Teachers Pension Plan Board trimmed its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 55.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 and Exchange Commission.

Several other institutional investors have also bought and sold shares of MEDP. Advisors Asset Management Inc. increased its holdings in Medpace by 16.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 6,149 shares of the company's stock valued at $2,053,000 after purchasing an additional 854 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Medpace by 466.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,425 shares of the company's stock worth $8,821,000 after buying an additional 21,764 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Medpace during the 3rd quarter worth about $3,098,000. Lindenwold Advisors INC increased its position in Medpace by 1.6% in the 3rd quarter. Lindenwold Advisors INC now owns 2,026 shares of the company's stock valued at $676,000 after acquiring an additional 32 shares in the last quarter. Finally, Joseph Group Capital Management raised its position in Medpace by 20.6% in the 3rd quarter. Joseph Group Capital Management now owns 3,045 shares of the company's stock worth $1,016,000 after purchasing an additional 520 shares during the last quarter. Institutional investors and hedge funds own 77.98% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MEDP shares. Guggenheim cut their price objective on shares of Medpace from $464.00 to $432.00 and set a "buy" rating on the stock in a report on Wednesday, July 24th. Robert W. Baird lowered Medpace from an "outperform" rating to a "neutral" rating and reduced their price target for the stock from $413.00 to $349.00 in a research report on Wednesday, October 23rd. Redburn Atlantic initiated coverage on Medpace in a report on Monday, October 14th. They issued a "buy" rating and a $404.00 price objective for the company. Jefferies Financial Group cut shares of Medpace from a "buy" rating to a "hold" rating and cut their price objective for the company from $415.00 to $345.00 in a research report on Wednesday, September 25th. Finally, StockNews.com downgraded Medpace from a "buy" rating to a "hold" rating in a research note on Friday, September 27th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $380.00.

Medpace Stock Performance

MEDP traded up $11.13 during trading hours on Wednesday, reaching $326.09. The company's stock had a trading volume of 375,972 shares, compared to its average volume of 284,342. The company's 50-day moving average is $340.65 and its 200-day moving average is $374.33. Medpace Holdings, Inc. has a 52 week low of $268.80 and a 52 week high of $459.77. The firm has a market cap of $10.13 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 - Get Free Report) last announced its earnings results on Monday, October 21st. The company reported $3.01 EPS for the quarter, topping the consensus estimate of $2.77 by $0.24. The business 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 revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.22 EPS. Equities analysts anticipate that Medpace Holdings, Inc. will post 11.93 earnings per share for the current fiscal year.

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.