Scientech Research LLC Sells 1,114 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Scientech Research LLC decreased its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 69.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 492 shares of the company’s stock after selling 1,114 shares during the period. Scientech Research LLC’s holdings in Medpace were worth $203,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Mackenzie Financial Corp bought a new position in shares of Medpace in the 2nd quarter valued at $747,000. The Manufacturers Life Insurance Company increased its stake in shares of Medpace by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,129 shares of the company’s stock valued at $8,702,000 after purchasing an additional 94 shares during the last quarter. Mcmorgan & Co. LLC grew its position in Medpace by 3.9% during the 2nd quarter. Mcmorgan & Co. LLC now owns 9,555 shares of the company’s stock worth $3,935,000 after acquiring an additional 358 shares during the last quarter. AQR Capital Management LLC grew its position in Medpace by 62.3% during the 2nd quarter. AQR Capital Management LLC now owns 310,650 shares of the company’s stock worth $127,941,000 after acquiring an additional 119,257 shares during the last quarter. Finally, AXA S.A. grew its position in Medpace by 11.4% during the 2nd quarter. AXA S.A. now owns 34,018 shares of the company’s stock worth $14,010,000 after acquiring an additional 3,479 shares during the last quarter. Institutional investors own 77.98% of the company’s stock.

Wall Street Analysts Forecast Growth

MEDP has been the topic of a number of research reports. Robert W. Baird reduced their price objective on Medpace from $430.00 to $413.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Guggenheim reduced their price objective on Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. TD Cowen reduced their price objective on Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Jefferies Financial Group lowered Medpace from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $415.00 to $345.00 in a research report on Wednesday, September 25th. Finally, UBS Group lowered Medpace from a “buy” rating to a “neutral” rating and reduced their price target for the company from $420.00 to $350.00 in a research report on Friday, September 27th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $395.00.

Medpace Trading Down 0.1 %

NASDAQ MEDP opened at $333.45 on Wednesday. The firm has a market capitalization of $10.33 billion, a PE ratio of 34.03, a price-to-earnings-growth ratio of 1.88 and a beta of 1.35. The business’s 50-day moving average price is $366.33 and its two-hundred day moving average price is $388.94. Medpace Holdings, Inc. has a 12 month low of $227.21 and a 12 month high of $459.77.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.21. The company had revenue of $528.10 million for the quarter, compared to the consensus estimate of $528.41 million. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The firm’s revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.93 EPS. As a group, analysts forecast that Medpace Holdings, Inc. will post 11.66 earnings per share for the current fiscal year.

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.