New York State Common Retirement Fund reduced its stake in Medpace Holdings Inc (NASDAQ:MEDP) by 26.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,896 shares of the company’s stock after selling 11,252 shares during the quarter. New York State Common Retirement Fund owned about 0.08% of Medpace worth $986,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Redmile Group LLC purchased a new position in shares of Medpace during the second quarter worth approximately $6,526,000. Ameriprise Financial Inc. purchased a new position in shares of Medpace during the second quarter worth approximately $6,402,000. Vanguard Group Inc. raised its stake in shares of Medpace by 23.3% during the second quarter. Vanguard Group Inc. now owns 1,014,439 shares of the company’s stock worth $29,419,000 after acquiring an additional 191,597 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Medpace by 138.2% during the second quarter. Prudential Financial Inc. now owns 81,870 shares of the company’s stock worth $2,374,000 after acquiring an additional 47,500 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Medpace by 79.6% during the second quarter. Bank of New York Mellon Corp now owns 62,968 shares of the company’s stock worth $1,826,000 after acquiring an additional 27,906 shares in the last quarter. 16.80% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have commented on the stock. Raymond James Financial assumed coverage on shares of Medpace in a research note on Friday, September 29th. They set a “market perform” rating on the stock. BidaskClub raised shares of Medpace from a “hold” rating to a “buy” rating in a research note on Thursday, December 14th. KeyCorp reaffirmed a “hold” rating on shares of Medpace in a research note on Tuesday, October 17th. Zacks Investment Research downgraded shares of Medpace from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Finally, William Blair downgraded shares of Medpace from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 1st. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $36.60.
In related news, major shareholder Medpace Limited Partnership sold 4,600,000 shares of Medpace stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $30.16, for a total value of $138,736,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 25.80% of the company’s stock.
Medpace Holdings Inc (NASDAQ MEDP) opened at $38.05 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.36. Medpace Holdings Inc has a one year low of $21.76 and a one year high of $39.64. The company has a market cap of $1,410.00 and a price-to-earnings ratio of 55.14.
Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, October 30th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. The company had revenue of $98.68 million for the quarter, compared to the consensus estimate of $96.84 million. Medpace had a net margin of 6.44% and a return on equity of 10.00%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 earnings per share. analysts anticipate that Medpace Holdings Inc will post 1.5 EPS for the current year.
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Medpace Holdings, Inc is a clinical contract research organization. The Company provides clinical research-based drug and medical device development services. The Company partners with pharmaceutical, biotechnology, and medical device companies in the development and execution of clinical trials. The Company’s drug development services focus on full service Phase I-IV clinical development services and include 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.
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