California Public Employees Retirement System Cuts Stock Holdings in Medpace Holdings Inc (NASDAQ:MEDP)

California Public Employees Retirement System lowered its position in shares of Medpace Holdings Inc (NASDAQ:MEDP) by 1.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,356 shares of the company’s stock after selling 700 shares during the quarter. California Public Employees Retirement System owned 0.12% of Medpace worth $2,557,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. LS Investment Advisors LLC bought a new position in Medpace in the fourth quarter valued at approximately $46,000. SHANDA ASSET MANAGEMENT HOLDINGS Ltd bought a new stake in shares of Medpace in the fourth quarter worth $87,000. NumerixS Investment Technologies Inc bought a new stake in shares of Medpace in the fourth quarter worth $119,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Medpace in the fourth quarter worth $198,000. Finally, SG Americas Securities LLC lifted its position in shares of Medpace by 98.8% in the fourth quarter. SG Americas Securities LLC now owns 4,041 shares of the company’s stock worth $214,000 after purchasing an additional 2,008 shares in the last quarter. Hedge funds and other institutional investors own 76.70% of the company’s stock.

MEDP has been the topic of a number of research reports. TheStreet raised shares of Medpace from a “c” rating to a “b-” rating in a research report on Thursday, June 6th. BidaskClub raised shares of Medpace from a “hold” rating to a “buy” rating in a research report on Thursday, June 20th. ValuEngine lowered shares of Medpace from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th. Zacks Investment Research upgraded shares of Medpace from a “sell” rating to a “hold” rating and set a $63.00 price objective on the stock in a report on Wednesday, May 1st. Finally, Robert W. Baird upped their price objective on shares of Medpace from $57.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, April 30th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Medpace has a consensus rating of “Buy” and an average price target of $59.25.

Shares of MEDP stock traded down $0.56 on Monday, reaching $64.86. The company had a trading volume of 299,258 shares, compared to its average volume of 557,358. The firm has a market capitalization of $2.32 billion, a PE ratio of 25.04, a PEG ratio of 1.98 and a beta of 1.56. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.69 and a quick ratio of 0.69. Medpace Holdings Inc has a one year low of $42.43 and a one year high of $71.66. The firm has a 50-day simple moving average of $57.66.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, April 29th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.04. The firm had revenue of $200.70 million during the quarter, compared to analysts’ expectations of $190.16 million. Medpace had a net margin of 10.49% and a return on equity of 17.16%. The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 earnings per share. On average, sell-side analysts forecast that Medpace Holdings Inc will post 2.64 earnings per share for the current year.

Medpace Company Profile

Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in a range of therapeutic areas.

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Institutional Ownership by Quarter for Medpace (NASDAQ:MEDP)

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