Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Sold by Susquehanna Portfolio Strategies LLC

Susquehanna Portfolio Strategies LLC reduced its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 2.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 93,379 shares of the company’s stock after selling 2,721 shares during the quarter. Medpace comprises approximately 1.6% of Susquehanna Portfolio Strategies LLC’s holdings, making the stock its 8th biggest position. Susquehanna Portfolio Strategies LLC’s holdings in Medpace were worth $38,458,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Medpace by 5.9% during the 4th quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock valued at $783,626,000 after purchasing an additional 142,591 shares in the last quarter. TD Asset Management Inc grew its position in Medpace by 22.9% during the first 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 holdings in Medpace by 38.3% in the second 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 in the last quarter. Epoch Investment Partners Inc. raised its position in shares of Medpace by 15.3% in the first quarter. Epoch Investment Partners Inc. now owns 406,446 shares of the company’s stock worth $164,265,000 after acquiring an additional 53,983 shares during the period. Finally, Bessemer Group Inc. boosted its stake in shares of Medpace by 1.6% during the 1st quarter. Bessemer Group Inc. now owns 394,834 shares of the company’s stock worth $159,572,000 after acquiring an additional 6,137 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Stock Up 1.6 %

Shares of MEDP opened at $331.44 on Friday. The firm’s fifty day moving average is $370.19 and its two-hundred day moving average is $390.19. The stock has a market cap of $10.27 billion, a PE ratio of 33.79, a price-to-earnings-growth ratio of 1.88 and a beta of 1.35. Medpace Holdings, Inc. has a 52-week low of $227.21 and a 52-week high of $459.77.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The firm had revenue of $528.10 million for the quarter, compared to analyst estimates of $528.41 million. During the same period in the previous year, the business posted $1.93 earnings per share. Medpace’s quarterly revenue was up 14.6% on a year-over-year basis. As a group, research analysts anticipate that Medpace Holdings, Inc. will post 11.66 earnings per share for the current year.

Analyst Ratings Changes

MEDP has been the subject of several recent analyst reports. Jefferies Financial Group lowered Medpace from a “buy” rating to a “hold” rating and cut their price target for the company from $415.00 to $345.00 in a research note on Wednesday. Truist Financial initiated coverage on Medpace in a research note on Thursday, August 1st. They set a “hold” rating and a $415.00 target price for the company. Robert W. Baird dropped their price target 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. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday. Finally, UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and dropped their target price for the company from $420.00 to $350.00 in a research report on Friday. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $395.00.

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.