Victory Capital Management Inc. Sells 29,826 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Victory Capital Management Inc. lowered its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 43.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,660 shares of the company’s stock after selling 29,826 shares during the quarter. Victory Capital Management Inc. owned about 0.12% of Medpace worth $12,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in MEDP. Ashton Thomas Securities LLC acquired a new stake in Medpace in the third quarter worth about $37,000. DT Investment Partners LLC acquired a new stake in Medpace in the second quarter worth about $41,000. Capital Performance Advisors LLP acquired a new stake in Medpace in the third quarter worth about $46,000. Ashton Thomas Private Wealth LLC acquired a new stake in Medpace in the second quarter worth about $52,000. Finally, EntryPoint Capital LLC acquired a new stake in Medpace in the first quarter worth about $54,000. Institutional investors own 77.98% of the company’s stock.

Medpace Trading Up 3.5 %

Shares of MEDP opened at $326.09 on Thursday. Medpace Holdings, Inc. has a 12 month low of $268.80 and a 12 month high of $459.77. The stock’s 50 day moving average is $340.65 and its two-hundred day moving average is $374.33. The firm has a market cap of $10.13 billion, a P/E ratio of 27.58, a PEG ratio of 1.72 and a beta of 1.37.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Jefferies Financial Group downgraded Medpace from a “buy” rating to a “hold” rating and lowered their price target for the stock from $415.00 to $345.00 in a report on Wednesday, September 25th. Guggenheim reduced their price objective on Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Redburn Atlantic assumed coverage on Medpace in a research note on Monday, October 14th. They issued a “buy” rating and a $404.00 price objective for the company. Baird R W cut Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, UBS Group cut Medpace from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $420.00 to $350.00 in a research note on Friday, September 27th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $380.00.

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.