SG Americas Securities LLC Has $769,000 Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

SG Americas Securities LLC cut its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 83.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,304 shares of the company’s stock after selling 11,565 shares during the quarter. SG Americas Securities LLC’s holdings in Medpace were worth $769,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Newbridge Financial Services Group Inc. acquired a new position in shares of Medpace during the second quarter worth approximately $163,000. Sanctuary Advisors LLC acquired a new position in shares of Medpace during the second quarter worth approximately $1,346,000. Clearbridge Investments LLC lifted its holdings in shares of Medpace by 55.1% during the second quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock worth $166,343,000 after buying an additional 143,481 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Medpace by 2.3% during the second quarter. Cetera Investment Advisers now owns 11,757 shares of the company’s stock worth $4,842,000 after buying an additional 263 shares during the last quarter. Finally, Truist Financial Corp lifted its holdings in shares of Medpace by 21.2% during the second quarter. Truist Financial Corp now owns 3,700 shares of the company’s stock worth $1,524,000 after buying an additional 648 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Medpace Stock Up 0.9 %

Shares of MEDP opened at $347.91 on Friday. Medpace Holdings, Inc. has a 12-month low of $227.21 and a 12-month high of $459.77. The firm has a market capitalization of $10.78 billion, a PE ratio of 35.46, a price-to-earnings-growth ratio of 1.77 and a beta of 1.35. The stock’s fifty day simple moving average is $359.26 and its 200-day simple moving average is $385.18.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.21. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The business had revenue of $528.10 million for the quarter, compared to analyst estimates of $528.41 million. During the same quarter in the prior year, the firm posted $1.93 earnings per share. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. Analysts anticipate that Medpace Holdings, Inc. will post 11.64 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MEDP shares. Deutsche Bank Aktiengesellschaft lowered their price objective on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Guggenheim lowered their price objective on Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. TD Cowen lowered their price objective on Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, UBS Group cut Medpace from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $420.00 to $350.00 in a research report on Friday, September 27th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $395.00.

Medpace 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.