Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Sold by Kendall Capital Management

Kendall Capital Management cut its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 6.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,215 shares of the company’s stock after selling 225 shares during the quarter. Kendall Capital Management’s holdings in Medpace were worth $1,324,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Medpace by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock worth $783,626,000 after buying an additional 142,591 shares in the last quarter. TD Asset Management Inc lifted its stake in Medpace by 22.9% during the first quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock worth $232,042,000 after purchasing an additional 107,108 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Medpace by 38.3% during the second 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. Epoch Investment Partners Inc. lifted its stake in Medpace by 15.3% during the first quarter. Epoch Investment Partners Inc. now owns 406,446 shares of the company’s stock worth $164,265,000 after purchasing an additional 53,983 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in Medpace by 1.6% during the first quarter. Bessemer Group Inc. now owns 394,834 shares of the company’s stock worth $159,572,000 after purchasing an additional 6,137 shares during the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

Medpace Price Performance

Medpace stock opened at $361.29 on Thursday. Medpace Holdings, Inc. has a 12 month low of $227.21 and a 12 month high of $459.77. The business has a 50 day simple moving average of $381.01 and a 200-day simple moving average of $392.44. The stock has a market capitalization of $11.19 billion, a PE ratio of 36.83, a price-to-earnings-growth ratio of 1.74 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, July 22nd. The company reported $2.75 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $528.41 million. During the same quarter in the prior year, the business earned $1.93 earnings per share. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Medpace Holdings, Inc. will post 11.66 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on MEDP. William Blair restated an “outperform” rating on shares of Medpace in a research note on Wednesday, September 11th. Truist Financial began coverage on Medpace in a research note on Thursday, August 1st. They set a “hold” rating and a $415.00 target price for the company. Mizuho began coverage on Medpace in a research note on Tuesday, May 28th. They set a “buy” rating and a $435.00 target price for the company. Deutsche Bank Aktiengesellschaft decreased their target price on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Finally, Robert W. Baird reduced their price objective on Medpace from $469.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $423.00.

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.