Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 21.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 205,034 shares of the company’s stock after selling 55,411 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.66% of Medpace worth $84,443,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Westwind Capital boosted its stake in Medpace by 800.1% during the 2nd quarter. Westwind Capital now owns 380,929 shares of the company’s stock worth $156,886,000 after purchasing an additional 338,610 shares during the last quarter. TD Asset Management Inc boosted its position in Medpace by 195.2% during the fourth quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock worth $143,162,000 after acquiring an additional 308,816 shares during the last quarter. Findlay Park Partners LLP acquired a new position in Medpace during the first quarter worth about $90,247,000. Clearbridge Investments LLC grew its stake in Medpace by 302.4% during the 1st quarter. Clearbridge Investments LLC now owns 260,411 shares of the company’s stock valued at $105,245,000 after acquiring an additional 195,698 shares in the last quarter. Finally, Norges Bank acquired a new stake in Medpace in the 4th quarter valued at about $59,163,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Stock Performance

Shares of MEDP traded down $11.66 during mid-day trading on Friday, hitting $335.74. 288,125 shares of the company’s stock were exchanged, compared to its average volume of 245,615. The stock’s 50-day moving average is $390.71 and its 200-day moving average is $395.32. Medpace Holdings, Inc. has a fifty-two week low of $227.21 and a fifty-two week high of $459.77. The company has a market cap of $10.40 billion, a price-to-earnings ratio of 34.22, a P/E/G ratio of 1.85 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, July 22nd. The company reported $2.75 EPS for the quarter, beating the consensus estimate of $2.54 by $0.21. The company had revenue of $528.10 million during the quarter, compared to analysts’ expectations of $528.41 million. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The firm’s revenue was up 14.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.93 EPS. As a group, equities research analysts anticipate that Medpace Holdings, Inc. will post 11.66 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on MEDP. Robert W. Baird cut their price target on Medpace from $469.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. William Blair reiterated an “outperform” rating on shares of Medpace in a report on Tuesday, July 23rd. TD Cowen dropped their price objective on shares of Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Truist Financial began coverage on shares of Medpace in a research note on Thursday, August 1st. They set a “hold” rating and a $415.00 target price on the stock. Finally, Guggenheim dropped their price target 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. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Medpace currently has an average rating of “Moderate Buy” and an average target price of $423.00.

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.