Retirement Systems of Alabama Acquires 108 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Retirement Systems of Alabama raised its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 66,853 shares of the company’s stock after acquiring an additional 108 shares during the quarter. Retirement Systems of Alabama’s holdings in Medpace were worth $22,211,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. State Street Corp boosted its position in shares of Medpace by 7.2% in the 3rd quarter. State Street Corp now owns 752,957 shares of the company’s stock worth $251,337,000 after purchasing an additional 50,312 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Medpace by 7.6% during the third quarter. Geode Capital Management LLC now owns 628,054 shares of the company’s stock worth $209,885,000 after buying an additional 44,371 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Medpace by 36.0% during the third quarter. Wellington Management Group LLP now owns 415,255 shares of the company’s stock worth $138,612,000 after buying an additional 109,886 shares during the last quarter. American Capital Management Inc. increased its stake in shares of Medpace by 2.6% in the 3rd quarter. American Capital Management Inc. now owns 380,646 shares of the company’s stock valued at $127,060,000 after acquiring an additional 9,592 shares during the last quarter. Finally, FMR LLC raised its position in shares of Medpace by 11.8% in the 3rd quarter. FMR LLC now owns 231,019 shares of the company’s stock valued at $77,114,000 after acquiring an additional 24,362 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MEDP shares. William Blair restated an “outperform” rating on shares of Medpace in a report on Tuesday, October 22nd. Robert W. Baird upped their price objective on shares of Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. TD Cowen reduced their target price on Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. 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 note on Monday, October 14th. Finally, Redburn Atlantic assumed coverage on Medpace in a research report on Monday, October 14th. They set a “buy” rating and a $404.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Medpace has an average rating of “Hold” and a consensus target price of $381.44.

Medpace Stock Performance

NASDAQ MEDP opened at $360.97 on Friday. The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 1.79 and a beta of 1.36. Medpace Holdings, Inc. has a 52 week low of $301.81 and a 52 week high of $459.77. The stock’s 50 day moving average price is $343.17 and its two-hundred day moving average price is $350.31.

Medpace 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.