Medpace Holdings, Inc. (NASDAQ:MEDP) Stock Position Reduced by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 3.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,483 shares of the company’s stock after selling 412 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Medpace were worth $5,553,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in MEDP. Westwind Capital increased its stake in Medpace by 800.1% during the second quarter. Westwind Capital now owns 380,929 shares of the company’s stock valued at $156,886,000 after purchasing an additional 338,610 shares during the last quarter. TD Asset Management Inc grew its position in shares of Medpace by 195.2% during the 4th quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock valued at $143,162,000 after buying an additional 308,816 shares during the last quarter. Findlay Park Partners LLP acquired a new stake in Medpace during the first quarter worth about $90,247,000. Clearbridge Investments LLC lifted its holdings in Medpace by 302.4% in the first quarter. Clearbridge Investments LLC now owns 260,411 shares of the company’s stock worth $105,245,000 after acquiring an additional 195,698 shares during the last quarter. Finally, Norges Bank acquired a new position in Medpace in the fourth quarter valued at approximately $59,163,000. 77.98% of the stock is owned by institutional investors and hedge funds.

Medpace Price Performance

Medpace stock opened at $365.70 on Friday. Medpace Holdings, Inc. has a 12-month low of $227.21 and a 12-month high of $459.77. The stock has a market capitalization of $11.33 billion, a PE ratio of 37.28, a price-to-earnings-growth ratio of 1.74 and a beta of 1.36. The firm has a 50 day simple moving average of $378.15 and a 200-day simple moving average of $392.02.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, beating 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 company had revenue of $528.10 million for the quarter, compared to analysts’ expectations of $528.41 million. During the same period last year, the firm earned $1.93 EPS. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, analysts forecast that Medpace Holdings, Inc. will post 11.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MEDP. Robert W. Baird dropped their price target on Medpace from $430.00 to $413.00 and set an “outperform” rating on the stock in a research report on Friday. Mizuho began coverage on Medpace in a research note on Tuesday, May 28th. They issued a “buy” rating and a $435.00 target price on the stock. Truist Financial initiated coverage on shares of Medpace in a research report on Thursday, August 1st. They set a “hold” rating and a $415.00 price target for the company. Guggenheim cut their price objective on shares of Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, William Blair restated an “outperform” rating on shares of Medpace in a research report on Wednesday, September 11th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus 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.