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

New York State Teachers Retirement System trimmed its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 0.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,608 shares of the company’s stock after selling 100 shares during the quarter. New York State Teachers Retirement System owned approximately 0.11% of Medpace worth $9,935,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Invesco Ltd. boosted its position in Medpace by 91.8% during the 4th quarter. Invesco Ltd. now owns 1,084,753 shares of the company’s stock valued at $360,387,000 after acquiring an additional 519,186 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Medpace during the 4th quarter worth $78,144,000. Norges Bank bought a new stake in Medpace during the fourth quarter valued at about $69,859,000. Fundsmith LLP bought a new position in Medpace in the fourth quarter worth about $42,372,000. Finally, Spyglass Capital Management LLC lifted its position in shares of Medpace by 85.1% during the fourth quarter. Spyglass Capital Management LLC now owns 262,660 shares of the company’s stock valued at $87,264,000 after buying an additional 120,778 shares during the last quarter. Institutional investors own 77.98% of the company’s stock.

Medpace Stock Down 1.4%

Shares of NASDAQ:MEDP opened at $321.50 on Friday. Medpace Holdings, Inc. has a 52-week low of $250.05 and a 52-week high of $459.77. The stock has a market cap of $9.24 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 5.88 and a beta of 1.47. The business has a 50-day moving average price of $303.28 and a 200-day moving average price of $319.53.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.06 by $0.61. The company had revenue of $558.57 million during the quarter, compared to analyst estimates of $528.38 million. Medpace had a net margin of 19.31% and a return on equity of 54.36%. During the same period last year, the firm posted $3.20 EPS. As a group, equities analysts anticipate that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MEDP shares. TD Cowen downgraded shares of Medpace from a “buy” rating to a “hold” rating and cut their price objective for the stock from $370.00 to $328.00 in a research report on Monday, April 14th. Leerink Partners started coverage on shares of Medpace in a report on Monday, March 24th. They issued a “market perform” rating and a $330.00 price target on the stock. Mizuho reduced their price target on Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. William Blair reissued a “market perform” rating on shares of Medpace in a research report on Tuesday, April 22nd. Finally, Robert W. Baird reduced their target price on Medpace from $340.00 to $313.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Medpace has an average rating of “Hold” and a consensus target price of $344.82.

Insider Buying and Selling

In other Medpace news, Director Fred B. Davenport, Jr. sold 1,712 shares of Medpace stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $301.82, for a total transaction of $516,715.84. Following the completion of the transaction, the director owned 2,998 shares in the company, valued at approximately $904,856.36. This trade represents a 36.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 20.30% of the company’s stock.

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.