Nationwide Fund Advisors cut its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 84.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,707 shares of the company’s stock after selling 24,629 shares during the period. Nationwide Fund Advisors’ holdings in Medpace Holdings were worth $141,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in MEDP. State Street Corp increased its stake in Medpace Holdings by 44.4% in the fourth quarter. State Street Corp now owns 129,599 shares of the company’s stock worth $4,677,000 after buying an additional 39,824 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Medpace Holdings during the fourth quarter worth about $338,000. Russell Investments Group Ltd. bought a new stake in Medpace Holdings during the fourth quarter worth about $732,000. Metropolitan Life Insurance Co. NY bought a new stake in Medpace Holdings during the fourth quarter worth about $240,000. Finally, Teachers Advisors LLC increased its stake in Medpace Holdings by 190.0% in the fourth quarter. Teachers Advisors LLC now owns 24,993 shares of the company’s stock worth $901,000 after buying an additional 16,376 shares in the last quarter. 17.33% of the stock is owned by hedge funds and other institutional investors.
Medpace Holdings, Inc. (NASDAQ MEDP) traded up 3.92% during trading on Tuesday, hitting $33.17. 180,218 shares of the company’s stock were exchanged. Medpace Holdings, Inc. has a 52-week low of $21.76 and a 52-week high of $38.94. The company has a market cap of $1.31 billion and a price-to-earnings ratio of 58.40. The firm has a 50 day moving average price of $28.44 and a 200 day moving average price of $29.49.
Medpace Holdings (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, July 31st. The company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.08. The business had revenue of $94.60 million during the quarter, compared to the consensus estimate of $92.71 million. Medpace Holdings had a return on equity of 9.32% and a net margin of 5.37%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 earnings per share. On average, equities research analysts predict that Medpace Holdings, Inc. will post $1.42 earnings per share for the current year.
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MEDP has been the subject of a number of research analyst reports. Wells Fargo & Company downgraded shares of Medpace Holdings from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 3rd. Zacks Investment Research downgraded shares of Medpace Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Jefferies Group LLC reiterated a “hold” rating and issued a $25.50 target price (down previously from $35.50) on shares of Medpace Holdings in a research report on Wednesday, May 3rd. ValuEngine cut shares of Medpace Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $36.00 target price (up previously from $35.00) on shares of Medpace Holdings in a research report on Tuesday, June 6th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Medpace Holdings presently has an average rating of “Hold” and an average price target of $34.00.
About Medpace Holdings
Medpace Holdings, Inc is a clinical contract research organization. The Company provides clinical research-based drug and medical device development services. The Company partners with pharmaceutical, biotechnology, and medical device companies in the development and execution of clinical trials. The Company’s drug development services focus on full service Phase I-IV clinical development services and include 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.
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