Charles Schwab Investment Management Inc. Decreases Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Charles Schwab Investment Management Inc. lessened its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 198,904 shares of the company’s stock after selling 7,576 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.64% of Medpace worth $66,394,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC acquired a new position in shares of Medpace during the 3rd quarter worth about $37,000. DT Investment Partners LLC purchased a new stake in Medpace during the 2nd quarter worth approximately $41,000. Capital Performance Advisors LLP acquired a new position in shares of Medpace during the third quarter valued at approximately $46,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Medpace in the second quarter valued at approximately $52,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Medpace in the second quarter worth approximately $61,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Medpace Stock Up 1.1 %

Shares of Medpace stock opened at $338.96 on Friday. The firm has a market cap of $10.53 billion, a PE ratio of 29.68, a price-to-earnings-growth ratio of 1.87 and a beta of 1.37. Medpace Holdings, Inc. has a 52 week low of $268.80 and a 52 week high of $459.77. The business’s fifty day simple moving average is $338.32 and its 200-day simple moving average is $371.75.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.24. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The company had revenue of $533.32 million during the quarter, compared to analyst estimates of $540.99 million. During the same quarter last year, the firm posted $2.22 earnings per share. Medpace’s revenue was up 8.3% compared to the same quarter last year. As a group, equities analysts expect that Medpace Holdings, Inc. will post 11.93 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on MEDP shares. UBS Group lowered Medpace from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $420.00 to $350.00 in a report on Friday, September 27th. William Blair restated an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. Jefferies Financial Group downgraded shares of Medpace from a “buy” rating to a “hold” rating and cut their price objective for the company from $415.00 to $345.00 in a report on Wednesday, September 25th. Truist Financial lowered their target price on Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Finally, Robert W. Baird increased their price target on Medpace from $349.00 to $354.00 and gave the company a “neutral” rating in a report on Monday. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $380.56.

Medpace Company 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.