State of Alaska Department of Revenue Has $965,000 Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

State of Alaska Department of Revenue lowered its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 64.3% during the fourth quarter, Holdings Channel reports. The firm owned 2,906 shares of the company’s stock after selling 5,245 shares during the period. State of Alaska Department of Revenue’s holdings in Medpace were worth $965,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Exchange Traded Concepts LLC lifted its position in shares of Medpace by 47.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,981 shares of the company’s stock valued at $995,000 after acquiring an additional 963 shares during the period. Swedbank AB acquired a new position in shares of Medpace during the 3rd quarter valued at $7,477,000. Vontobel Holding Ltd. lifted its position in shares of Medpace by 137.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,424 shares of the company’s stock valued at $475,000 after acquiring an additional 824 shares during the period. Rheos Capital Works Inc. lifted its position in shares of Medpace by 18.3% during the 3rd quarter. Rheos Capital Works Inc. now owns 29,101 shares of the company’s stock valued at $9,714,000 after acquiring an additional 4,500 shares during the period. Finally, nVerses Capital LLC lifted its position in shares of Medpace by 50.0% during the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the company’s stock valued at $401,000 after acquiring an additional 400 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Price Performance

NASDAQ MEDP opened at $342.41 on Friday. Medpace Holdings, Inc. has a 1 year low of $302.01 and a 1 year high of $459.77. The firm has a market cap of $10.64 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 1.85 and a beta of 1.36. The company has a fifty day moving average price of $343.70 and a 200-day moving average price of $348.88.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, February 10th. The company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.71. Medpace had a net margin of 17.66% and a return on equity of 50.87%. On average, research analysts anticipate that Medpace Holdings, Inc. will post 11.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. TD Cowen dropped their target price on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Baird R W lowered shares of Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Robert W. Baird boosted their price target on shares of Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Finally, William Blair restated an “outperform” rating on shares of Medpace in a research note on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $381.44.

Medpace Company Profile

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.