Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Sold by TD Asset Management Inc

TD Asset Management Inc trimmed its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 11.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 511,268 shares of the company’s stock after selling 62,881 shares during the quarter. TD Asset Management Inc owned about 1.65% of Medpace worth $210,566,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. FORA Capital LLC purchased a new stake in shares of Medpace in the 1st quarter valued at approximately $2,222,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Medpace in the 1st quarter valued at approximately $5,179,000. Eagle Asset Management Inc. raised its stake in shares of Medpace by 155.0% in the 4th quarter. Eagle Asset Management Inc. now owns 226,435 shares of the company’s stock valued at $69,409,000 after acquiring an additional 137,632 shares during the period. Evoke Wealth LLC purchased a new stake in shares of Medpace in the 4th quarter valued at approximately $3,149,000. Finally, Norden Group LLC raised its stake in shares of Medpace by 488.0% in the 1st quarter. Norden Group LLC now owns 29,480 shares of the company’s stock valued at $11,914,000 after acquiring an additional 24,466 shares during the period. 77.98% of the stock is owned by hedge funds and other institutional investors.

Medpace Stock Performance

MEDP opened at $347.40 on Friday. The stock has a market capitalization of $10.76 billion, a P/E ratio of 35.41, a price-to-earnings-growth ratio of 1.85 and a beta of 1.36. Medpace Holdings, Inc. has a one year low of $227.21 and a one year high of $459.77. The business’s 50-day simple moving average is $392.23 and its 200-day simple moving average is $395.70.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 55.14% and a net margin of 16.74%. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.93 earnings per share. On average, equities research analysts forecast that Medpace Holdings, Inc. will post 11.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MEDP shares. Deutsche Bank Aktiengesellschaft cut their target price on shares of Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. William Blair reaffirmed an “outperform” rating on shares of Medpace in a research note on Tuesday, July 23rd. TD Cowen cut their target price on shares of Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Robert W. Baird cut their target price on shares of Medpace from $469.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Finally, Mizuho started coverage on shares of Medpace in a research report on Tuesday, May 28th. They issued a “buy” rating and a $435.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $423.00.

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.