Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 3.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 198,904 shares of the company’s stock after selling 7,576 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Medpace were worth $66,394,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. O Shaughnessy Asset Management LLC purchased a new position in Medpace in the 1st quarter valued at approximately $307,000. Tidal Investments LLC grew its stake in Medpace by 16.2% during the 1st quarter. Tidal Investments LLC now owns 874 shares of the company’s stock worth $353,000 after purchasing an additional 122 shares in the last quarter. Plato Investment Management Ltd increased its holdings in Medpace by 36.4% during the 1st quarter. Plato Investment Management Ltd now owns 195 shares of the company’s stock worth $79,000 after purchasing an additional 52 shares during the period. LRI Investments LLC acquired a new stake in Medpace in the 1st quarter valued at about $74,000. Finally, Cetera Investment Advisers raised its position in Medpace by 235.0% in the 1st quarter. Cetera Investment Advisers now owns 11,494 shares of the company’s stock valued at $4,645,000 after purchasing an additional 8,063 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Stock Up 1.1 %

NASDAQ:MEDP opened at $338.96 on Friday. The company has a market capitalization of $10.53 billion, a PE ratio of 29.68, a P/E/G ratio of 1.87 and a beta of 1.37. Medpace Holdings, Inc. has a 52-week low of $268.80 and a 52-week high of $459.77. The stock’s 50 day moving average price is $338.32 and its 200 day moving average price is $371.75.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, October 21st. The company reported $3.01 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.24. The business had revenue of $533.32 million for the quarter, compared to analysts’ expectations of $540.99 million. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.22 EPS. As a group, sell-side analysts anticipate that Medpace Holdings, Inc. will post 11.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. William Blair restated an “outperform” rating on shares of Medpace in a report on Tuesday, October 22nd. UBS Group downgraded shares of Medpace from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $420.00 to $350.00 in a research note on Friday, September 27th. TD Cowen cut their price target on Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group cut Medpace from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $415.00 to $345.00 in a research report on Wednesday, September 25th. Seven investment 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 currently has an average rating of “Hold” and a consensus price target of $380.56.

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.