Medpace Holdings, Inc. (NASDAQ:MEDP) Holdings Lowered by Sheets Smith Wealth Management

Sheets Smith Wealth Management cut its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 22.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,044 shares of the company’s stock after selling 875 shares during the period. Sheets Smith Wealth Management’s holdings in Medpace were worth $1,016,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MEDP. Westwind Capital increased its position in shares of Medpace by 800.1% during the 2nd quarter. Westwind Capital now owns 380,929 shares of the company’s stock valued at $156,886,000 after purchasing an additional 338,610 shares during the period. Clearbridge Investments LLC grew its holdings in Medpace by 302.4% during the first quarter. Clearbridge Investments LLC now owns 260,411 shares of the company’s stock worth $105,245,000 after acquiring an additional 195,698 shares during the period. Renaissance Technologies LLC raised its position in Medpace by 38.3% in the second quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock worth $182,692,000 after acquiring an additional 122,800 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Medpace by 62.3% in the 2nd quarter. AQR Capital Management LLC now owns 310,650 shares of the company’s stock valued at $127,941,000 after acquiring an additional 119,257 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in shares of Medpace by 22.9% during the 1st quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock valued at $232,042,000 after purchasing an additional 107,108 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Redburn Atlantic began coverage on Medpace in a report on Monday, October 14th. They issued a “buy” rating and a $404.00 price target on the stock. 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 note on Wednesday, July 24th. Baird R W lowered Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, Truist Financial decreased their price target on Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research report on Monday, October 14th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $380.00.

Medpace Trading Up 2.7 %

Shares of Medpace stock opened at $362.79 on Friday. Medpace Holdings, Inc. has a 1 year low of $268.80 and a 1 year high of $459.77. The company has a market cap of $11.28 billion, a P/E ratio of 31.77, a P/E/G ratio of 1.98 and a beta of 1.37. The stock has a 50-day moving average price of $341.59 and a 200 day moving average price of $377.50.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, topping 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 business had revenue of $533.32 million during the quarter, compared to analyst estimates of $540.99 million. During the same period in the prior year, the firm earned $2.22 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. On average, equities 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.