Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Sold by Ithaka Group LLC

Ithaka Group LLC reduced its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,427 shares of the company’s stock after selling 331 shares during the quarter. Ithaka Group LLC’s holdings in Medpace were worth $4,816,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cetera Advisors LLC raised its stake in Medpace by 162.4% during the 1st quarter. Cetera Advisors LLC now owns 2,608 shares of the company’s stock worth $1,054,000 after acquiring an additional 1,614 shares in the last quarter. Baillie Gifford & Co. raised its stake in Medpace by 175.6% during the 3rd quarter. Baillie Gifford & Co. now owns 14,876 shares of the company’s stock worth $4,966,000 after acquiring an additional 9,478 shares in the last quarter. Virtu Financial LLC acquired a new stake in Medpace during the 1st quarter worth $1,239,000. Natixis acquired a new stake in Medpace during the 1st quarter worth $727,000. Finally, CWA Asset Management Group LLC acquired a new stake in Medpace during the 3rd quarter worth $1,306,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Redburn Atlantic assumed coverage on shares of Medpace in a research note on Monday, October 14th. They set a “buy” rating and a $404.00 price target on the stock. TD Cowen dropped their price objective on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $420.00 to $350.00 in a research note on Friday, September 27th. Truist Financial dropped their price objective on shares of Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a research note on Monday, October 14th. Finally, Robert W. Baird lowered shares of Medpace from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $413.00 to $349.00 in a research note on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Medpace presently has a consensus rating of “Hold” and an average price target of $380.00.

Medpace Stock Up 4.8 %

Shares of NASDAQ:MEDP opened at $341.87 on Friday. The company has a market cap of $10.63 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 1.74 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 firm’s 50-day simple moving average is $340.42 and its 200-day simple moving average is $373.77.

Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Monday, October 21st. The company reported $3.01 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.24. The firm had revenue of $533.32 million for 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 firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.22 earnings per share. On average, research analysts forecast that Medpace Holdings, Inc. will post 11.93 EPS for the current 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.