Squarepoint Ops LLC Reduces Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Squarepoint Ops LLC cut its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 34.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,263 shares of the company’s stock after selling 8,637 shares during the period. Squarepoint Ops LLC owned 0.05% of Medpace worth $6,698,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MEDP. US Bancorp DE raised its stake in shares of Medpace by 1.9% in the fourth quarter. US Bancorp DE now owns 5,269 shares of the company’s stock worth $1,615,000 after buying an additional 98 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Medpace during the 4th quarter valued at $2,394,000. Steward Partners Investment Advisory LLC bought a new stake in Medpace during the fourth quarter valued at about $255,000. Stifel Financial Corp boosted its stake in shares of Medpace by 29.4% in the fourth quarter. Stifel Financial Corp now owns 31,379 shares of the company’s stock worth $9,619,000 after acquiring an additional 7,125 shares during the period. Finally, Allianz Asset Management GmbH raised its position in shares of Medpace by 10.0% during the fourth quarter. Allianz Asset Management GmbH now owns 15,897 shares of the company’s stock valued at $4,873,000 after buying an additional 1,440 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. William Blair reiterated an “outperform” rating on shares of Medpace in a research report on Wednesday, September 11th. Robert W. Baird reduced their target price on shares of Medpace from $430.00 to $413.00 and set an “outperform” rating on the stock in a report 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 for the company in a report on Wednesday, July 24th. Jefferies Financial Group downgraded Medpace from a “buy” rating to a “hold” rating and decreased their price objective for the company from $415.00 to $345.00 in a report on Wednesday, September 25th. Finally, TD Cowen cut their price objective on shares of Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Medpace has an average rating of “Moderate Buy” and an average price target of $395.00.

Medpace Price Performance

NASDAQ MEDP opened at $331.44 on Monday. Medpace Holdings, Inc. has a 12 month low of $227.21 and a 12 month high of $459.77. The company has a market capitalization of $10.27 billion, a price-to-earnings ratio of 33.79, a price-to-earnings-growth ratio of 1.88 and a beta of 1.35. The firm’s fifty day moving average price is $368.39 and its 200 day moving average price is $389.57.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, July 22nd. The company reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.21. The firm had revenue of $528.10 million for 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%. Medpace’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.93 EPS. As a group, sell-side analysts forecast that Medpace Holdings, Inc. will post 11.66 earnings per share for the current year.

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.