Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama increased its stake in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 7.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,745 shares of the company's stock after purchasing an additional 4,783 shares during the period. Retirement Systems of Alabama owned 0.21% of Medpace worth $22,279,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MEDP. DT Investment Partners LLC acquired a new stake in Medpace in the 2nd quarter valued at approximately $41,000. Stone House Investment Management LLC bought a new position in shares of Medpace in the third quarter valued at about $33,000. Ashton Thomas Securities LLC bought a new position in shares of Medpace in the third quarter valued at about $37,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Medpace during the 2nd quarter worth about $52,000. Finally, Capital Performance Advisors LLP acquired a new position in Medpace in the 3rd quarter valued at about $46,000. Institutional investors and hedge funds own 77.98% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on MEDP shares. Redburn Atlantic started coverage on Medpace in a research report on Monday, October 14th. They issued a "buy" rating and a $404.00 target price on the stock. Truist Financial decreased their price target on shares of Medpace from $415.00 to $397.00 and set a "hold" rating on the stock in a research note on Monday, October 14th. Baird R W downgraded shares of Medpace from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 23rd. William Blair reiterated an "outperform" rating on shares of Medpace in a research report on Tuesday, October 22nd. Finally, Robert W. Baird raised their target price on shares of Medpace from $349.00 to $354.00 and gave the company a "neutral" rating in a report on Monday, November 25th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $380.56.

Medpace Trading Down 0.4 %

Shares of NASDAQ:MEDP traded down $1.50 on Friday, reaching $345.93. 275,175 shares of the company traded hands, compared to its average volume of 282,165. Medpace Holdings, Inc. has a 52 week low of $277.72 and a 52 week high of $459.77. The business's 50-day simple moving average is $339.20 and its 200 day simple moving average is $367.80. The stock has a market capitalization of $10.75 billion, a P/E ratio of 30.29, a price-to-earnings-growth ratio of 1.89 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, beating 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 analysts' expectations of $540.99 million. During the same quarter in the previous year, the business posted $2.22 EPS. The company's quarterly revenue was up 8.3% on a year-over-year basis. Sell-side analysts expect that Medpace Holdings, Inc. will post 11.93 EPS 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.