State of New Jersey Common Pension Fund D Reduces Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

State of New Jersey Common Pension Fund D decreased its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,651 shares of the company’s stock after selling 75 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Medpace were worth $3,206,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. R Squared Ltd acquired a new stake in Medpace during the fourth quarter worth approximately $30,000. Stone House Investment Management LLC purchased a new position in shares of Medpace in the 3rd quarter valued at $33,000. Ashton Thomas Securities LLC acquired a new stake in Medpace during the 3rd quarter worth $37,000. Capital Performance Advisors LLP purchased a new stake in Medpace in the third quarter valued at $46,000. Finally, True Wealth Design LLC boosted its stake in Medpace by 16,800.0% in the third quarter. True Wealth Design LLC now owns 169 shares of the company’s stock valued at $56,000 after acquiring an additional 168 shares in the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MEDP shares. Baird R W downgraded Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Robert W. Baird lifted their price target on Medpace from $354.00 to $362.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Finally, TD Cowen decreased their price objective on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $381.44.

Medpace Trading Up 1.0 %

Medpace stock opened at $344.01 on Thursday. The stock has a market capitalization of $10.48 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 3.76 and a beta of 1.36. The stock has a 50 day moving average of $343.28 and a two-hundred day moving average of $347.47. Medpace Holdings, Inc. has a twelve month low of $302.01 and a twelve month high of $459.77.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, February 10th. The company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $2.96 by $0.71. Medpace had a return on equity of 51.48% and a net margin of 19.17%. Equities analysts predict that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

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.