Retirement Systems of Alabama Raises Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Retirement Systems of Alabama grew its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 7.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,745 shares of the company’s stock after purchasing an additional 4,783 shares during the period. Retirement Systems of Alabama owned approximately 0.21% of Medpace worth $22,279,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. DT Investment Partners LLC purchased a new position in Medpace in the 2nd quarter worth $41,000. Stone House Investment Management LLC purchased a new position in shares of Medpace in the third quarter worth about $33,000. Ashton Thomas Securities LLC acquired a new stake in shares of Medpace during the third quarter worth about $37,000. Ashton Thomas Private Wealth LLC purchased a new stake in Medpace in the second quarter valued at approximately $52,000. Finally, Capital Performance Advisors LLP acquired a new position in Medpace in the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Stock Down 0.4 %

Shares of NASDAQ MEDP opened at $345.93 on Friday. The business’s 50 day moving average is $339.20 and its two-hundred day moving average is $367.96. Medpace Holdings, Inc. has a 52-week low of $277.72 and a 52-week high of $459.77. The firm has a market cap of $10.75 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 1.89 and a beta of 1.37.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.24. The firm had revenue of $533.32 million for the quarter, compared to analyst estimates of $540.99 million. Medpace had a return on equity of 50.87% and a net margin of 17.66%. Medpace’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.22 EPS. Analysts anticipate that Medpace Holdings, Inc. will post 11.93 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MEDP shares. UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $420.00 to $350.00 in a research note on Friday, September 27th. Redburn Atlantic started coverage on Medpace in a report on Monday, October 14th. They issued a “buy” rating and a $404.00 price target for the company. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Jefferies Financial Group cut shares of Medpace from a “buy” rating to a “hold” rating and cut their price objective for the company from $415.00 to $345.00 in a report on Wednesday, September 25th. Finally, TD Cowen dropped their target price on Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research report 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 an average rating of “Hold” and a consensus target price of $380.56.

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.