Intech Investment Management LLC Sells 2,256 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Intech Investment Management LLC lowered its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 28.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,640 shares of the company’s stock after selling 2,256 shares during the period. Intech Investment Management LLC’s holdings in Medpace were worth $1,883,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. DT Investment Partners LLC purchased a new stake in shares of Medpace during the second quarter valued at approximately $41,000. Ashton Thomas Securities LLC purchased a new stake in Medpace during the third quarter valued at about $37,000. Ashton Thomas Private Wealth LLC purchased a new stake in Medpace during the second quarter valued at about $52,000. EntryPoint Capital LLC bought a new position in Medpace during the first quarter worth about $54,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Medpace in the third quarter worth about $46,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on MEDP shares. Truist Financial dropped their price objective on Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a report on Monday, October 14th. William Blair restated an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. Redburn Atlantic assumed coverage on shares of Medpace in a research note on Monday, October 14th. They set a “buy” rating and a $404.00 price objective for the company. Robert W. Baird cut shares of Medpace from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $413.00 to $349.00 in a research note on Wednesday, October 23rd. Finally, TD Cowen reduced their price target on shares of Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $380.00.

Medpace Stock Performance

Shares of NASDAQ:MEDP opened at $337.75 on Monday. The firm has a market capitalization of $10.50 billion, a PE ratio of 29.58, a price-to-earnings-growth ratio of 1.89 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 firm has a fifty day moving average of $340.14 and a 200 day moving average of $373.03.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data 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. The firm had revenue of $533.32 million during the quarter, compared to analysts’ expectations of $540.99 million. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.22 EPS. On average, sell-side analysts forecast that Medpace Holdings, Inc. will post 11.93 EPS for the current fiscal 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.