Principal Financial Group Inc. Sells 19,439 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Principal Financial Group Inc. reduced its stake in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 24.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,439 shares of the company's stock after selling 19,439 shares during the period. Principal Financial Group Inc. owned about 0.19% of Medpace worth $19,841,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Signaturefd LLC raised its holdings in Medpace by 4.9% during the 2nd quarter. Signaturefd LLC now owns 559 shares of the company's stock worth $230,000 after purchasing an additional 26 shares during the last quarter. Wealth Alliance lifted its holdings in Medpace by 2.9% in the second quarter. Wealth Alliance now owns 970 shares of the company's stock valued at $399,000 after buying an additional 27 shares during the period. Centaurus Financial Inc. boosted its position in Medpace by 2.0% during the third quarter. Centaurus Financial Inc. now owns 1,513 shares of the company's stock valued at $505,000 after acquiring an additional 29 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in Medpace by 0.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 4,340 shares of the company's stock worth $1,787,000 after acquiring an additional 32 shares during the period. Finally, Lindenwold Advisors INC raised its position in shares of Medpace by 1.6% in the 3rd quarter. Lindenwold Advisors INC now owns 2,026 shares of the company's stock worth $676,000 after acquiring an additional 32 shares in the last quarter. Institutional investors own 77.98% of the company's stock.

Wall Street Analysts Forecast Growth

MEDP has been the subject of a number of research analyst reports. William Blair reiterated an "outperform" rating on shares of Medpace in a report on Tuesday, October 22nd. StockNews.com downgraded shares of Medpace from a "buy" rating to a "hold" rating in a research report on Friday, September 27th. Truist Financial reduced their price target on shares of Medpace from $415.00 to $397.00 and set a "hold" rating for the company in a report on Monday, October 14th. Robert W. Baird upped their price objective on shares of Medpace from $349.00 to $354.00 and gave the company a "neutral" rating in a report on Monday, November 25th. Finally, UBS Group downgraded Medpace from a "buy" rating to a "neutral" rating and reduced their target price for the company from $420.00 to $350.00 in a research note on Friday, September 27th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $380.56.

Medpace Stock Performance

MEDP traded down $1.80 during midday trading on Friday, reaching $341.12. 107,352 shares of the company were exchanged, compared to its average volume of 281,703. The company has a market cap of $10.60 billion, a price-to-earnings ratio of 29.87, a price-to-earnings-growth ratio of 1.91 and a beta of 1.37. Medpace Holdings, Inc. has a one year low of $277.72 and a one year high of $459.77. The company's fifty day moving average price is $338.56 and its 200 day moving average price is $364.65.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its quarterly earnings data on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.24. The business had revenue of $533.32 million for the quarter, compared to analysts' expectations of $540.99 million. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The business's revenue was up 8.3% on a year-over-year basis. During the same period last year, the business earned $2.22 EPS. As a group, sell-side analysts anticipate that Medpace Holdings, Inc. will post 11.93 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.