Victory Capital Management Inc. Reduces Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Victory Capital Management Inc. lessened its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 43.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 38,660 shares of the company's stock after selling 29,826 shares during the quarter. Victory Capital Management Inc. owned 0.12% of Medpace worth $12,905,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cumberland Partners Ltd boosted its stake in shares of Medpace by 45.8% during the 3rd quarter. Cumberland Partners Ltd now owns 3,500 shares of the company's stock worth $1,168,000 after acquiring an additional 1,100 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of Medpace by 175.6% in the third quarter. Baillie Gifford & Co. now owns 14,876 shares of the company's stock worth $4,966,000 after purchasing an additional 9,478 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Medpace during the 3rd quarter valued at approximately $276,000. Nations Financial Group Inc. IA ADV lifted its position in Medpace by 1.7% during the third quarter. Nations Financial Group Inc. IA ADV now owns 2,376 shares of the company's stock valued at $793,000 after purchasing an additional 39 shares during the last quarter. Finally, Versor Investments LP increased its stake in Medpace by 26.6% during the third quarter. Versor Investments LP now owns 4,902 shares of the company's stock worth $1,636,000 after acquiring an additional 1,029 shares during the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on MEDP. Guggenheim decreased their price objective on shares of Medpace from $464.00 to $432.00 and set a "buy" rating for the company in a research note on Wednesday, July 24th. UBS Group downgraded shares of Medpace from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $420.00 to $350.00 in a research report on Friday, September 27th. TD Cowen lowered their price objective 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 lowered shares of Medpace from a "buy" rating to a "hold" rating in a research report on Friday, September 27th. Finally, Jefferies Financial Group downgraded Medpace from a "buy" rating to a "hold" rating and lowered their target price for the stock from $415.00 to $345.00 in a research note on Wednesday, September 25th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $380.00.

Medpace Stock Up 3.5 %

NASDAQ:MEDP opened at $326.09 on Thursday. The company has a market capitalization of $10.13 billion, a P/E ratio of 28.55, a P/E/G ratio of 1.74 and a beta of 1.37. Medpace Holdings, Inc. has a 52 week low of $268.80 and a 52 week high of $459.77. The stock's fifty day moving average is $340.65 and its two-hundred day moving average is $374.33.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its quarterly 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%. The company's quarterly 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 earnings per share. 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 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.