New York State Teachers Retirement System Lowers Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

New York State Teachers Retirement System cut its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP – Get Rating) by 0.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 31,666 shares of the company’s stock after selling 300 shares during the period. New York State Teachers Retirement System owned 0.10% of Medpace worth $4,977,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Raymond James & Associates grew its stake in shares of Medpace by 11.9% during the 3rd quarter. Raymond James & Associates now owns 80,422 shares of the company’s stock valued at $12,640,000 after buying an additional 8,562 shares during the period. Forte Capital LLC ADV lifted its holdings in shares of Medpace by 42.6% during the 3rd quarter. Forte Capital LLC ADV now owns 2,680 shares of the company’s stock valued at $421,000 after acquiring an additional 800 shares in the last quarter. Hancock Whitney Corp lifted its holdings in shares of Medpace by 10.9% during the 3rd quarter. Hancock Whitney Corp now owns 45,820 shares of the company’s stock valued at $7,202,000 after acquiring an additional 4,494 shares in the last quarter. First National Bank of Omaha lifted its holdings in shares of Medpace by 85.6% during the 2nd quarter. First National Bank of Omaha now owns 4,856 shares of the company’s stock valued at $727,000 after acquiring an additional 2,240 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Medpace by 1.3% during the 2nd quarter. Victory Capital Management Inc. now owns 48,109 shares of the company’s stock valued at $7,200,000 after acquiring an additional 639 shares in the last quarter. 82.49% of the stock is owned by hedge funds and other institutional investors.

Medpace Price Performance

Shares of MEDP stock opened at $228.56 on Monday. The firm has a market capitalization of $7.11 billion, a P/E ratio of 35.06 and a beta of 1.42. The company’s fifty day moving average price is $213.31 and its two-hundred day moving average price is $181.97. Medpace Holdings, Inc. has a 12 month low of $126.94 and a 12 month high of $235.72.

Medpace (NASDAQ:MEDP – Get Rating) last issued its earnings results on Monday, October 24th. The company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.58. The business had revenue of $383.74 million for the quarter, compared to analyst estimates of $357.17 million. Medpace had a net margin of 16.50% and a return on equity of 41.39%. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.29 EPS. On average, sell-side analysts anticipate that Medpace Holdings, Inc. will post 6.97 EPS for the current year.

Insider Activity

In other news, General Counsel Stephen P. Ewald sold 6,500 shares of the company’s stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $220.53, for a total value of $1,433,445.00. Following the sale, the general counsel now owns 14,854 shares in the company, valued at approximately $3,275,752.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 20.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Robert W. Baird lifted their target price on shares of Medpace from $217.00 to $226.00 in a report on Friday. StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a report on Friday, October 28th. Finally, UBS Group upgraded shares of Medpace from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $142.00 to $238.00 in a report on Thursday, October 27th.

Medpace Profile

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Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. It offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. The company also 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.