Daiwa Securities Group Inc. Sells 1,460 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Daiwa Securities Group Inc. cut its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 92.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 117 shares of the company’s stock after selling 1,460 shares during the period. Daiwa Securities Group Inc.’s holdings in Medpace were worth $39,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MEDP. Renaissance Technologies LLC lifted its position in shares of Medpace by 38.3% in the second quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock valued at $182,692,000 after buying an additional 122,800 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in Medpace by 55.1% during the 2nd quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock valued at $166,343,000 after purchasing an additional 143,481 shares during the last quarter. Westwind Capital boosted 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 purchasing an additional 338,610 shares during the period. AQR Capital Management LLC increased its holdings in shares of Medpace by 62.3% in the second quarter. AQR Capital Management LLC now owns 310,650 shares of the company’s stock valued at $127,941,000 after purchasing an additional 119,257 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Medpace by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 226,268 shares of the company’s stock valued at $93,188,000 after purchasing an additional 1,128 shares during the period. 77.98% of the stock is owned by institutional investors.

Medpace Stock Performance

Shares of MEDP opened at $340.63 on Monday. Medpace Holdings, Inc. has a 52-week low of $268.80 and a 52-week high of $459.77. The firm has a market cap of $10.59 billion, a price-to-earnings ratio of 29.83, a PEG ratio of 1.88 and a beta of 1.37. The business’s fifty day moving average is $337.82 and its 200-day moving average is $370.98.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.24. The company had revenue of $533.32 million for the quarter, compared to analyst estimates of $540.99 million. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.22 EPS. As a group, research analysts forecast that Medpace Holdings, Inc. will post 11.93 EPS for the current fiscal year.

Analyst Ratings Changes

MEDP has been the subject of several research analyst reports. 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 report on Wednesday, October 23rd. William Blair restated an “outperform” rating on shares of Medpace in a report on Tuesday, October 22nd. StockNews.com lowered Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Redburn Atlantic initiated coverage on Medpace in a research note on Monday, October 14th. They issued a “buy” rating and a $404.00 price target for the company. Finally, Truist Financial lowered their price objective on Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a research 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. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $380.56.

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.