Nisa Investment Advisors LLC Cuts Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Nisa Investment Advisors LLC decreased its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 35.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 656 shares of the company’s stock after selling 355 shares during the period. Nisa Investment Advisors LLC’s holdings in Medpace were worth $219,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Westwind Capital raised its position in Medpace by 800.1% during the second quarter. Westwind Capital now owns 380,929 shares of the company’s stock worth $156,886,000 after acquiring an additional 338,610 shares during the period. Clearbridge Investments LLC raised its position in shares of Medpace by 302.4% during the 1st quarter. Clearbridge Investments LLC now owns 260,411 shares of the company’s stock worth $105,245,000 after purchasing an additional 195,698 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Medpace by 38.3% during the 2nd quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock worth $182,692,000 after purchasing an additional 122,800 shares during the last quarter. AQR Capital Management LLC lifted its stake in Medpace by 62.3% in the 2nd quarter. AQR Capital Management LLC now owns 310,650 shares of the company’s stock valued at $127,941,000 after buying an additional 119,257 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in Medpace by 22.9% during the 1st quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock worth $232,042,000 after buying an additional 107,108 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Guggenheim decreased their target price on 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 cut shares of Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. TD Cowen reduced their target price 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. Baird R W lowered shares of Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Medpace has a consensus rating of “Hold” and a consensus target price of $380.00.

Medpace Price Performance

Medpace stock opened at $358.27 on Thursday. The firm has a 50 day simple moving average of $341.69 and a 200-day simple moving average of $377.76. The stock has a market cap of $11.14 billion, a price-to-earnings ratio of 31.37, a price-to-earnings-growth ratio of 1.76 and a beta of 1.37. Medpace Holdings, Inc. has a 1-year low of $268.80 and a 1-year high of $459.77.

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

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.