Amalgamated Bank Sells 653 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Amalgamated Bank reduced its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 5.0% during the second quarter, Holdings Channel reports. The firm owned 12,311 shares of the company’s stock after selling 653 shares during the period. Amalgamated Bank’s holdings in Medpace were worth $5,070,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Private Advisor Group LLC bought a new position in Medpace in the 4th quarter valued at $296,000. Principal Securities Inc. purchased a new position in shares of Medpace in the 4th quarter worth about $68,000. Janney Montgomery Scott LLC grew its position in shares of Medpace by 40.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,098 shares of the company’s stock valued at $2,175,000 after acquiring an additional 2,061 shares during the period. Norges Bank purchased a new stake in shares of Medpace during the 4th quarter worth approximately $59,163,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Medpace by 5.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,750 shares of the company’s stock worth $2,682,000 after purchasing an additional 488 shares during the period. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Medpace Stock Performance

MEDP stock opened at $365.70 on Friday. The company has a market capitalization of $11.33 billion, a PE ratio of 37.28, a price-to-earnings-growth ratio of 1.74 and a beta of 1.36. Medpace Holdings, Inc. has a one year low of $227.21 and a one year high of $459.77. The company’s 50 day moving average price is $378.15 and its two-hundred day moving average price is $392.02.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, July 22nd. The company reported $2.75 EPS 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 company had revenue of $528.10 million for the quarter, compared to analysts’ expectations of $528.41 million. During the same quarter last year, the company earned $1.93 EPS. The firm’s revenue was up 14.6% compared to the same quarter last year. On average, research analysts predict that Medpace Holdings, Inc. will post 11.66 EPS for the current year.

Analysts Set New Price Targets

MEDP has been the subject of a number of recent research reports. TD Cowen decreased their target price on Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Guggenheim lowered their price target on shares of Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a report on Wednesday. Robert W. Baird decreased their price objective on Medpace from $430.00 to $413.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Truist Financial started coverage on Medpace in a research note on Thursday, August 1st. They issued a “hold” rating and a $415.00 target price for the company. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $420.88.

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.