Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lessened its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 45.8% during the second quarter, Holdings Channel reports. The fund owned 36,762 shares of the company’s stock after selling 31,004 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Medpace were worth $15,140,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Medpace by 5.9% in the 4th quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock worth $783,626,000 after acquiring an additional 142,591 shares during the period. TD Asset Management Inc increased its stake in Medpace by 22.9% during the 1st quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock valued at $232,042,000 after buying an additional 107,108 shares during the period. Renaissance Technologies LLC increased its stake in Medpace by 38.3% during the 2nd quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock valued at $182,692,000 after buying an additional 122,800 shares during the period. Epoch Investment Partners Inc. increased its stake in Medpace by 15.3% during the 1st quarter. Epoch Investment Partners Inc. now owns 406,446 shares of the company’s stock valued at $164,265,000 after buying an additional 53,983 shares during the period. Finally, Bessemer Group Inc. increased its stake in Medpace by 1.6% during the 1st quarter. Bessemer Group Inc. now owns 394,834 shares of the company’s stock valued at $159,572,000 after buying an additional 6,137 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Price Performance

Shares of MEDP opened at $355.82 on Wednesday. Medpace Holdings, Inc. has a one year low of $227.21 and a one year high of $459.77. The company has a 50-day moving average of $374.47 and a two-hundred day moving average of $391.13. The stock has a market cap of $11.03 billion, a price-to-earnings ratio of 36.27, a PEG ratio of 1.88 and a beta of 1.35.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, July 22nd. The company reported $2.75 EPS for the quarter, topping the consensus estimate 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 net margin of 16.74% and a return on equity of 55.14%. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period last year, the company posted $1.93 earnings per share. Analysts anticipate that Medpace Holdings, Inc. will post 11.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MEDP shares. Robert W. Baird lowered their target price on shares of Medpace from $430.00 to $413.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft lowered 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 reissued an “outperform” rating on shares of Medpace in a research note on Wednesday, September 11th. TD Cowen lowered 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. Finally, Truist Financial initiated coverage on shares of Medpace in a research report on Thursday, August 1st. They set a “hold” rating and a $415.00 price objective for the company. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $420.88.

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.