Los Angeles Capital Management LLC Sells 40,707 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Los Angeles Capital Management LLC lowered its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 19.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 164,327 shares of the company’s stock after selling 40,707 shares during the period. Los Angeles Capital Management LLC owned 0.53% of Medpace worth $54,852,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Westwind Capital raised its holdings in Medpace by 800.1% during the second quarter. Westwind Capital now owns 380,929 shares of the company’s stock valued at $156,886,000 after acquiring an additional 338,610 shares during the period. Clearbridge Investments LLC increased its stake 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 last quarter. Renaissance Technologies LLC increased its stake in Medpace by 38.3% during 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 during the last quarter. AQR Capital Management LLC increased its stake in Medpace by 62.3% during the second quarter. AQR Capital Management LLC now owns 310,650 shares of the company’s stock worth $127,941,000 after acquiring an additional 119,257 shares during the last quarter. Finally, TD Asset Management Inc increased its stake in Medpace by 22.9% during the first quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock worth $232,042,000 after acquiring an additional 107,108 shares during the last quarter. Institutional investors own 77.98% of the company’s stock.

Medpace Trading Up 2.7 %

MEDP stock traded up $9.37 during mid-day trading on Friday, reaching $362.79. The company’s stock had a trading volume of 358,083 shares, compared to its average volume of 409,613. The stock has a market cap of $11.28 billion, a PE ratio of 31.77, a P/E/G ratio of 1.98 and a beta of 1.37. Medpace Holdings, Inc. has a fifty-two week low of $268.80 and a fifty-two week high of $459.77. The company’s 50 day moving average is $341.59 and its two-hundred day moving average is $377.50.

Medpace (NASDAQ:MEDP) last announced 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. 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 business’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.22 EPS. On average, analysts forecast that Medpace Holdings, Inc. will post 11.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MEDP. William Blair reiterated an “outperform” rating on shares of Medpace in a report on Tuesday, October 22nd. Guggenheim lowered their target price on Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. TD Cowen lowered their target price on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Robert W. Baird downgraded Medpace from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $413.00 to $349.00 in a research report on Wednesday, October 23rd. Finally, Truist Financial reduced their price target on Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $380.00.

About Medpace

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.