Victory Capital Management Inc. Cuts Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Victory Capital Management Inc. lessened its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 43.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 38,660 shares of the company’s stock after selling 29,826 shares during the quarter. Victory Capital Management Inc.’s holdings in Medpace were worth $12,905,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Medpace in the 3rd quarter valued at $37,000. DT Investment Partners LLC purchased a new stake in shares of Medpace in the 2nd quarter valued at $41,000. Capital Performance Advisors LLP purchased a new stake in shares of Medpace in the 3rd quarter valued at $46,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Medpace in the 2nd quarter valued at $52,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Medpace in the 1st quarter valued at $54,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Stock Performance

NASDAQ:MEDP opened at $326.09 on Thursday. The stock has a 50-day simple moving average of $340.65 and a 200-day simple moving average of $374.33. The stock has a market cap of $10.13 billion, a P/E ratio of 27.58, a P/E/G ratio of 1.72 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 announced its earnings results on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, beating 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 business’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.22 EPS. On average, equities research analysts predict that Medpace Holdings, Inc. will post 11.93 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MEDP shares. Baird R W downgraded Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. UBS Group downgraded Medpace from a “buy” rating to a “neutral” rating and cut their price target for the stock from $420.00 to $350.00 in a report on Friday, September 27th. Redburn Atlantic assumed coverage on Medpace in a report on Monday, October 14th. They set a “buy” rating and a $404.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut their price target on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Finally, Truist Financial cut their price target on Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $380.00.

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.