Medpace Holdings, Inc. (NASDAQ:MEDP) Stock Holdings Trimmed by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lessened its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 55.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,605 shares of the company’s stock after selling 8,335 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Medpace were worth $2,205,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its stake in Medpace by 16.1% during the third quarter. Advisors Asset Management Inc. now owns 6,149 shares of the company’s stock worth $2,053,000 after purchasing an additional 854 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Medpace by 466.9% in 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 during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Medpace in the 3rd quarter valued at about $3,098,000. Lindenwold Advisors INC grew its position in shares of Medpace by 1.6% during the 3rd quarter. Lindenwold Advisors INC now owns 2,026 shares of the company’s stock valued at $676,000 after buying an additional 32 shares during the last quarter. Finally, Joseph Group Capital Management raised its stake in Medpace by 20.6% during the third quarter. Joseph Group Capital Management now owns 3,045 shares of the company’s stock worth $1,016,000 after acquiring an additional 520 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. William Blair restated an “outperform” rating on shares of Medpace in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft reduced their price objective on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Jefferies Financial Group lowered Medpace from a “buy” rating to a “hold” rating and dropped their target price for the stock from $415.00 to $345.00 in a research report on Wednesday, September 25th. UBS Group downgraded shares of Medpace from a “buy” rating to a “neutral” rating and reduced their price target for the company from $420.00 to $350.00 in a report on Friday, September 27th. Finally, StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a report on Friday, September 27th. 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, Medpace presently has an average rating of “Hold” and a consensus target price of $380.00.

Medpace Price Performance

Medpace stock opened at $314.96 on Wednesday. Medpace Holdings, Inc. has a 12-month low of $268.80 and a 12-month high of $459.77. The firm has a 50 day simple moving average of $340.65 and a 200-day simple moving average of $374.33. The stock has a market capitalization of $9.79 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) last announced its earnings results 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. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The business had revenue of $533.32 million during the quarter, compared to analysts’ expectations of $540.99 million. During the same quarter last year, the business posted $2.22 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. On average, analysts forecast that Medpace Holdings, Inc. will post 11.93 earnings per share for the current fiscal year.

Medpace Company 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.