Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Sold by Diversify Advisory Services LLC

Diversify Advisory Services LLC lessened its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 31.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 712 shares of the company’s stock after selling 320 shares during the quarter. Diversify Advisory Services LLC’s holdings in Medpace were worth $232,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. boosted its position in shares of Medpace by 63.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,963 shares of the company’s stock valued at $1,990,000 after acquiring an additional 2,322 shares during the last quarter. Smith Group Asset Management LLC increased its position in Medpace by 2.4% during the third quarter. Smith Group Asset Management LLC now owns 77,038 shares of the company’s stock worth $25,715,000 after purchasing an additional 1,809 shares during the last quarter. Semanteon Capital Management LP purchased a new position in Medpace during the third quarter worth about $340,000. State of Alaska Department of Revenue boosted its holdings in Medpace by 218.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 8,151 shares of the company’s stock valued at $2,720,000 after purchasing an additional 5,595 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Medpace by 80.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,422 shares of the company’s stock valued at $808,000 after buying an additional 1,079 shares during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Stock Performance

MEDP opened at $319.56 on Friday. Medpace Holdings, Inc. has a one year low of $253.49 and a one year high of $459.77. The stock has a market capitalization of $9.93 billion, a P/E ratio of 27.98, a price-to-earnings-growth ratio of 1.76 and a beta of 1.35. The business’s 50-day simple moving average is $344.59 and its 200-day simple moving average is $378.67.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Robert W. Baird lowered Medpace from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $413.00 to $349.00 in a research report on Wednesday, October 23rd. UBS Group cut Medpace from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $420.00 to $350.00 in a report on Friday, September 27th. Redburn Atlantic started coverage on shares of Medpace in a report on Monday, October 14th. They issued a “buy” rating and a $404.00 price objective on the stock. StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Finally, William Blair reissued an “outperform” rating on shares of Medpace in a research note on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Medpace presently has a consensus rating of “Hold” and an average price target of $380.00.

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.