Principal Financial Group Inc. Sells 19,439 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Principal Financial Group Inc. lowered its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 24.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,439 shares of the company’s stock after selling 19,439 shares during the quarter. Principal Financial Group Inc. owned about 0.19% of Medpace worth $19,841,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Stone House Investment Management LLC acquired a new stake in shares of Medpace in the third quarter worth about $33,000. Ashton Thomas Securities LLC bought a new position in shares of Medpace in the 3rd quarter valued at approximately $37,000. Ashton Thomas Private Wealth LLC acquired a new stake in Medpace in the 2nd quarter worth approximately $52,000. Capital Performance Advisors LLP bought a new stake in Medpace during the third quarter worth approximately $46,000. Finally, International Assets Investment Management LLC acquired a new position in Medpace during the second quarter valued at approximately $61,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Wall Street Analyst Weigh In

MEDP has been the subject of several recent analyst reports. Jefferies Financial Group downgraded shares of Medpace from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $415.00 to $345.00 in a report on Wednesday, September 25th. William Blair reiterated an “outperform” rating on shares of Medpace in a research note on Tuesday, October 22nd. Robert W. Baird increased their target price on Medpace from $349.00 to $354.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. UBS Group lowered Medpace from a “buy” rating to a “neutral” rating and cut their price target for the stock from $420.00 to $350.00 in a report on Friday, September 27th. Finally, TD Cowen lowered their price objective on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Medpace presently has an average rating of “Hold” and a consensus target price of $380.56.

Medpace Stock Up 0.1 %

NASDAQ MEDP opened at $342.92 on Friday. The stock has a market cap of $10.66 billion, a P/E ratio of 30.03, a PEG ratio of 1.91 and a beta of 1.37. Medpace Holdings, Inc. has a twelve month low of $277.72 and a twelve month high of $459.77. The company’s 50-day simple moving average is $338.56 and its 200 day simple moving average is $364.80.

Medpace (NASDAQ:MEDP) last issued its 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 business had revenue of $533.32 million during the quarter, compared to analysts’ expectations of $540.99 million. During the same period in the prior year, the firm posted $2.22 EPS. Medpace’s quarterly revenue was up 8.3% compared to the same quarter last year. Research analysts anticipate that Medpace Holdings, Inc. will post 11.93 earnings per share for the current year.

Medpace Profile

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.