Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board cut its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 22.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,500 shares of the company's stock after selling 12,500 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.14% of Medpace worth $14,452,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MEDP. Invesco Ltd. boosted its stake in shares of Medpace by 91.8% during the fourth quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock valued at $360,387,000 after purchasing an additional 519,186 shares in the last quarter. Proficio Capital Partners LLC boosted its position in Medpace by 34,497.4% during the 4th quarter. Proficio Capital Partners LLC now owns 242,528 shares of the company's stock valued at $80,575,000 after acquiring an additional 241,827 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Medpace in the 4th quarter valued at $78,144,000. Norges Bank bought a new position in shares of Medpace in the 4th quarter worth $69,859,000. Finally, GW&K Investment Management LLC lifted its stake in shares of Medpace by 93.9% during the 4th quarter. GW&K Investment Management LLC now owns 275,460 shares of the company's stock worth $91,516,000 after purchasing an additional 133,379 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors.

Medpace Trading Down 1.4 %

Medpace stock traded down $4.33 during mid-day trading on Friday, hitting $298.55. The company had a trading volume of 399,606 shares, compared to its average volume of 339,158. The company has a market capitalization of $9.02 billion, a price-to-earnings ratio of 23.64, a P/E/G ratio of 3.81 and a beta of 1.46. The company's fifty day moving average is $313.79 and its 200-day moving average is $331.76. Medpace Holdings, Inc. has a 12-month low of $250.05 and a 12-month high of $459.77.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $0.61. The business had revenue of $558.57 million for the quarter, compared to the consensus estimate of $528.38 million. Medpace had a net margin of 19.17% and a return on equity of 51.48%. During the same period last year, the firm posted $3.20 earnings per share. As a group, sell-side analysts expect that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MEDP shares. Leerink Partners initiated coverage on shares of Medpace in a report on Monday, March 24th. They issued a "market perform" rating and a $330.00 target price for the company. TD Cowen lowered shares of Medpace from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $370.00 to $328.00 in a research note on Monday, April 14th. Mizuho lowered their target price on shares of Medpace from $400.00 to $355.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. William Blair reiterated a "market perform" rating on shares of Medpace in a report on Tuesday. Finally, Leerink Partnrs upgraded Medpace to a "hold" rating in a research note on Monday, March 24th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $349.30.

Medpace 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.