Stifel Financial Corp Cuts Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Stifel Financial Corp lessened its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 41.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 23,269 shares of the company’s stock after selling 16,643 shares during the quarter. Stifel Financial Corp owned 0.07% of Medpace worth $7,767,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in MEDP. Sequoia Financial Advisors LLC lifted its stake in Medpace by 21.3% in the second quarter. Sequoia Financial Advisors LLC now owns 603 shares of the company’s stock worth $248,000 after acquiring an additional 106 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Medpace by 106.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,343 shares of the company’s stock worth $553,000 after purchasing an additional 694 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Medpace by 40.6% during the second quarter. Blue Trust Inc. now owns 561 shares of the company’s stock worth $227,000 after purchasing an additional 162 shares in the last quarter. Raymond James & Associates grew its stake in shares of Medpace by 13.1% during the second quarter. Raymond James & Associates now owns 54,735 shares of the company’s stock worth $22,543,000 after purchasing an additional 6,351 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in Medpace by 6.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,011 shares of the company’s stock valued at $416,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Stock Up 1.7 %

Shares of NASDAQ:MEDP opened at $347.43 on Friday. Medpace Holdings, Inc. has a fifty-two week low of $277.72 and a fifty-two week high of $459.77. The firm’s 50-day simple moving average is $339.14 and its 200-day simple moving average is $368.27. The company has a market cap of $10.80 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 1.94 and a beta of 1.37.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 50.87% and a net margin of 17.66%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.22 EPS. On average, research analysts forecast that Medpace Holdings, Inc. will post 11.93 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Redburn Atlantic started coverage on Medpace in a research report on Monday, October 14th. They set a “buy” rating and a $404.00 price objective for the company. UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and dropped their price target for the company from $420.00 to $350.00 in a research note on Friday, September 27th. Truist Financial reduced their price objective on shares of Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research report on Monday, October 14th. William Blair reaffirmed an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. Finally, Baird R W cut shares of Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Medpace presently has an average rating of “Hold” and an average price target of $380.56.

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.