Swiss National Bank Cuts Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Swiss National Bank reduced its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 0.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,500 shares of the company’s stock after selling 300 shares during the period. Swiss National Bank owned approximately 0.17% of Medpace worth $17,191,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. O Shaughnessy Asset Management LLC bought a new position in shares of Medpace in the first quarter worth about $307,000. Natixis purchased a new position in Medpace during the 1st quarter valued at $727,000. EntryPoint Capital LLC purchased a new position in Medpace during the 1st quarter valued at $54,000. Advisors Asset Management Inc. boosted its holdings in Medpace by 106.4% during the 1st quarter. Advisors Asset Management Inc. now owns 2,735 shares of the company’s stock valued at $1,105,000 after acquiring an additional 1,410 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in Medpace by 15.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 67,800 shares of the company’s stock valued at $27,401,000 after purchasing an additional 9,300 shares in the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MEDP has been the subject of several recent research reports. Baird R W lowered Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. TD Cowen dropped their price target on Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. William Blair reiterated an “outperform” rating on shares of Medpace in a research note on Tuesday, October 22nd. Redburn Atlantic assumed coverage on Medpace in a research note on Monday, October 14th. They issued a “buy” rating and a $404.00 target price on the stock. Finally, UBS Group downgraded Medpace from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $420.00 to $350.00 in a research note on Friday, September 27th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Medpace has an average rating of “Hold” and an average price target of $380.00.

Medpace Stock Performance

MEDP opened at $337.75 on Friday. The business’s 50-day simple moving average is $340.42 and its 200-day simple moving average is $373.77. Medpace Holdings, Inc. has a one year low of $268.80 and a one year high of $459.77. The stock has a market capitalization of $10.50 billion, a P/E ratio of 30.32, a price-to-earnings-growth ratio of 1.74 and a beta of 1.37.

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

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.