Amalgamated Bank Sells 653 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Amalgamated Bank reduced its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 5.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,311 shares of the company’s stock after selling 653 shares during the period. Amalgamated Bank’s holdings in Medpace were worth $5,070,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MEDP. Mercer Global Advisors Inc. ADV grew its position in Medpace by 8.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 11,666 shares of the company’s stock worth $4,850,000 after acquiring an additional 949 shares during the last quarter. Wealth Alliance boosted its stake in shares of Medpace by 2.9% during the second quarter. Wealth Alliance now owns 970 shares of the company’s stock valued at $399,000 after purchasing an additional 27 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Medpace during the second quarter worth about $5,383,000. Renaissance Technologies LLC increased its stake 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 period. Finally, Quantbot Technologies LP raised its holdings in Medpace by 189.9% in the 2nd quarter. Quantbot Technologies LP now owns 6,712 shares of the company’s stock valued at $2,764,000 after buying an additional 4,397 shares during the last quarter. 77.98% of the stock is owned by institutional investors.

Medpace Stock Performance

MEDP stock opened at $365.70 on Friday. The stock’s 50 day simple moving average is $378.15 and its 200 day simple moving average is $392.02. The company has a market cap of $11.33 billion, a P/E ratio of 37.28, a price-to-earnings-growth ratio of 1.74 and a beta of 1.36. Medpace Holdings, Inc. has a fifty-two week low of $227.21 and a fifty-two week high of $459.77.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.21. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The company had revenue of $528.10 million for the quarter, compared to analyst estimates of $528.41 million. During the same period in the prior year, the firm earned $1.93 earnings per share. Medpace’s revenue for the quarter was up 14.6% on a year-over-year basis. Equities analysts predict that Medpace Holdings, Inc. will post 11.66 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on MEDP shares. Truist Financial started coverage on shares of Medpace in a research report on Thursday, August 1st. They issued a “hold” rating and a $415.00 price target for the company. William Blair reaffirmed an “outperform” rating on shares of Medpace in a research report on Wednesday, September 11th. Guggenheim cut their target price on Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, TD Cowen cut their price objective on Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $420.88.

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.