Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,651 shares of the company’s stock after selling 75 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Medpace were worth $3,206,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MEDP. R Squared Ltd purchased a new stake in shares of Medpace during the 4th quarter valued at approximately $30,000. Stone House Investment Management LLC purchased a new stake in Medpace in the third quarter valued at $33,000. Ashton Thomas Securities LLC acquired a new position in shares of Medpace in the 3rd quarter valued at $37,000. Capital Performance Advisors LLP purchased a new position in shares of Medpace during the 3rd quarter worth $46,000. Finally, True Wealth Design LLC increased its position in shares of Medpace by 16,800.0% during the 3rd quarter. True Wealth Design LLC now owns 169 shares of the company’s stock worth $56,000 after purchasing an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MEDP shares. Baird R W lowered shares of Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. TD Cowen dropped their target price on shares of Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Robert W. Baird upped their price target on Medpace from $354.00 to $362.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $381.44.

Medpace Trading Up 1.0 %

Medpace stock opened at $344.01 on Thursday. The firm has a market capitalization of $10.48 billion, a P/E ratio of 27.24, a P/E/G ratio of 3.76 and a beta of 1.36. The stock’s fifty day simple moving average is $343.28 and its 200-day simple moving average is $347.47. Medpace Holdings, Inc. has a twelve month low of $302.01 and a twelve month high of $459.77.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, February 10th. The company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.96 by $0.71. Medpace had a return on equity of 51.48% and a net margin of 19.17%. Sell-side analysts predict that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Medpace Company Profile

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.