Los Angeles Capital Management LLC Cuts Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Los Angeles Capital Management LLC cut its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 70.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,508 shares of the company's stock after selling 65,852 shares during the period. Los Angeles Capital Management LLC owned 0.10% of Medpace worth $8,381,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in MEDP. Sone Capital Management LLC purchased a new position in Medpace in the fourth quarter valued at $1,318,000. GAMMA Investing LLC lifted its position in Medpace by 37.1% in the first quarter. GAMMA Investing LLC now owns 307 shares of the company's stock valued at $94,000 after purchasing an additional 83 shares during the period. Orion Portfolio Solutions LLC lifted its position in Medpace by 347.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 4,248 shares of the company's stock valued at $1,411,000 after purchasing an additional 3,299 shares during the period. Fundsmith LLP purchased a new position in Medpace in the fourth quarter valued at about $42,372,000. Finally, Park Avenue Securities LLC increased its stake in shares of Medpace by 1.8% during the 1st quarter. Park Avenue Securities LLC now owns 2,749 shares of the company's stock worth $838,000 after purchasing an additional 48 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on MEDP. Cowen cut shares of Medpace from a "buy" rating to a "sell" rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Medpace from $270.00 to $430.00 and gave the stock a "hold" rating in a research report on Wednesday. TD Cowen reaffirmed a "sell" rating and set a $366.00 target price (up from $283.00) on shares of Medpace in a research report on Wednesday. Truist Financial upped their target price on shares of Medpace from $298.00 to $436.00 and gave the company a "hold" rating in a research note on Wednesday. Finally, Robert W. Baird increased their price objective on shares of Medpace from $313.00 to $490.00 and gave the stock a "neutral" rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $398.91.

Medpace Trading Up 3.2%

MEDP traded up $13.86 on Thursday, reaching $451.27. The stock had a trading volume of 668,292 shares, compared to its average volume of 457,190. Medpace Holdings, Inc. has a fifty-two week low of $250.05 and a fifty-two week high of $501.30. The firm has a 50-day moving average of $313.64 and a 200-day moving average of $319.57. The company has a market capitalization of $12.97 billion, a price-to-earnings ratio of 33.53, a price-to-earnings-growth ratio of 8.69 and a beta of 1.47.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The company reported $3.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.00 by $0.10. The firm had revenue of $603.31 million for the quarter, compared to the consensus estimate of $537.70 million. Medpace had a net margin of 18.74% and a return on equity of 67.66%. The company's revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.75 EPS. Sell-side analysts anticipate that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

About Medpace

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.