Intech Investment Management LLC Sells 2,256 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Intech Investment Management LLC decreased its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 28.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,640 shares of the company’s stock after selling 2,256 shares during the quarter. Intech Investment Management LLC’s holdings in Medpace were worth $1,883,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Medpace during the 3rd quarter valued at about $37,000. DT Investment Partners LLC purchased a new stake in Medpace during the second quarter valued at approximately $41,000. Capital Performance Advisors LLP bought a new position in Medpace in the third quarter worth approximately $46,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Medpace during the 2nd quarter worth $52,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Medpace during the 1st quarter valued at $54,000. 77.98% of the stock is owned by hedge funds and other institutional investors.

Medpace Stock Performance

NASDAQ MEDP opened at $337.75 on Monday. Medpace Holdings, Inc. has a one year low of $268.80 and a one year high of $459.77. The company has a market capitalization of $10.50 billion, a price-to-earnings ratio of 29.58, a price-to-earnings-growth ratio of 1.89 and a beta of 1.37. The company’s 50-day simple moving average is $340.14 and its two-hundred day simple moving average is $373.03.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.24. The company had revenue of $533.32 million for the quarter, compared to analyst estimates of $540.99 million. Medpace had a net margin of 17.66% and a return on equity of 50.87%. Medpace’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company posted $2.22 earnings per share. Equities analysts expect that Medpace Holdings, Inc. will post 11.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

MEDP has been the subject of several recent research reports. William Blair reissued an “outperform” rating on shares of Medpace in a report on Tuesday, October 22nd. UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $420.00 to $350.00 in a report on Friday, September 27th. TD Cowen lowered their price target on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Robert W. Baird downgraded shares of Medpace from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $413.00 to $349.00 in a research report on Wednesday, October 23rd. Finally, StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Medpace has an average rating of “Hold” and an average target price of $380.00.

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.