Commerce Bank Cuts Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Commerce Bank cut its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 21.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,775 shares of the company’s stock after selling 483 shares during the period. Commerce Bank’s holdings in Medpace were worth $592,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Medpace in the 3rd quarter worth approximately $3,098,000. Lindenwold Advisors INC increased its holdings in shares of Medpace by 1.6% in the 3rd quarter. Lindenwold Advisors INC now owns 2,026 shares of the company’s stock worth $676,000 after purchasing an additional 32 shares in the last quarter. Joseph Group Capital Management increased its holdings in shares of Medpace by 20.6% in the 3rd quarter. Joseph Group Capital Management now owns 3,045 shares of the company’s stock worth $1,016,000 after purchasing an additional 520 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Medpace by 61.3% in the third quarter. Thrivent Financial for Lutherans now owns 14,430 shares of the company’s stock worth $4,817,000 after purchasing an additional 5,484 shares during the last quarter. Finally, Mutual of America Capital Management LLC lifted its holdings in shares of Medpace by 1.9% during the third quarter. Mutual of America Capital Management LLC now owns 13,738 shares of the company’s stock valued at $4,586,000 after purchasing an additional 255 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.

Medpace Stock Performance

NASDAQ:MEDP opened at $337.82 on Tuesday. The stock has a 50-day simple moving average of $339.76 and a two-hundred day simple moving average of $372.60. The firm has a market capitalization of $10.50 billion, a PE ratio of 29.58, a P/E/G ratio of 1.87 and a beta of 1.37. Medpace Holdings, Inc. has a 52-week low of $268.80 and a 52-week high of $459.77.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on MEDP shares. Truist Financial decreased their target price on Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research report on Monday, October 14th. UBS Group cut shares of Medpace from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $420.00 to $350.00 in a report on Friday, September 27th. William Blair restated an “outperform” rating on shares of Medpace in a report on Tuesday, October 22nd. Redburn Atlantic initiated coverage on shares of Medpace in a research note on Monday, October 14th. They set a “buy” rating and a $404.00 target price for the company. Finally, Jefferies Financial Group downgraded Medpace from a “buy” rating to a “hold” rating and dropped their price target for the stock from $415.00 to $345.00 in a research note on Wednesday, September 25th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $380.56.

Medpace Profile

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.