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

Cim Investment Management Inc. reduced its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 19.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,123 shares of the company’s stock after selling 266 shares during the period. Cim Investment Management Inc.’s holdings in Medpace were worth $463,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MEDP. FORA Capital LLC purchased a new position in shares of Medpace during the 1st quarter worth approximately $2,222,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Medpace in the first quarter valued at $5,179,000. Eagle Asset Management Inc. boosted its position in shares of Medpace by 155.0% during the 4th quarter. Eagle Asset Management Inc. now owns 226,435 shares of the company’s stock worth $69,409,000 after purchasing an additional 137,632 shares in the last quarter. Evoke Wealth LLC acquired a new position in shares of Medpace during the 4th quarter worth $3,149,000. Finally, Norden Group LLC increased its holdings in shares of Medpace by 488.0% in the 1st quarter. Norden Group LLC now owns 29,480 shares of the company’s stock valued at $11,914,000 after purchasing an additional 24,466 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Trading Up 1.6 %

Medpace stock opened at $331.44 on Friday. The stock has a fifty day moving average price of $370.19 and a 200 day moving average price of $390.19. Medpace Holdings, Inc. has a 52 week low of $227.21 and a 52 week high of $459.77. The firm has a market capitalization of $10.27 billion, a P/E ratio of 33.79, a PEG ratio of 1.88 and a beta of 1.35.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The business had revenue of $528.10 million for the quarter, compared to analyst estimates of $528.41 million. During the same period in the prior year, the firm posted $1.93 EPS. The company’s revenue was up 14.6% on a year-over-year basis. As a group, equities analysts predict that Medpace Holdings, Inc. will post 11.66 EPS for the current year.

Analysts Set New Price Targets

MEDP has been the topic of several research analyst reports. TD Cowen decreased their price target on Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lowered their target price on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. UBS Group downgraded Medpace from a “buy” rating to a “neutral” rating and cut their price target for the stock from $420.00 to $350.00 in a research note on Friday. Jefferies Financial Group downgraded shares of Medpace from a “buy” rating to a “hold” rating and dropped their target price for the company from $415.00 to $345.00 in a report on Wednesday. Finally, StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $395.00.

About Medpace

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.