Allspring Global Investments Holdings LLC cut its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP – Get Rating) by 44.8% during the third quarter, HoldingsChannel reports. The firm owned 5,011 shares of the company’s stock after selling 4,065 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Medpace were worth $787,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of MEDP. Ronald Blue Trust Inc. increased its stake in Medpace by 59.8% in the third quarter. Ronald Blue Trust Inc. now owns 187 shares of the company’s stock valued at $28,000 after purchasing an additional 70 shares during the period. Wipfli Financial Advisors LLC acquired a new position in Medpace in the third quarter valued at $32,000. Point72 Hong Kong Ltd acquired a new position in Medpace in the second quarter valued at $42,000. China Universal Asset Management Co. Ltd. acquired a new position in Medpace in the third quarter valued at $46,000. Finally, Quadrant Capital Group LLC increased its stake in shares of Medpace by 23.0% during the second quarter. Quadrant Capital Group LLC now owns 369 shares of the company’s stock worth $55,000 after acquiring an additional 69 shares during the period. 82.49% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on MEDP. UBS Group upgraded shares of Medpace from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $142.00 to $238.00 in a research note on Thursday, October 27th. StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a research note on Friday, October 28th. Finally, Robert W. Baird boosted their price target on shares of Medpace from $217.00 to $226.00 in a research note on Friday, January 13th.
Insider Buying and Selling
Medpace Trading Up 0.1 %
MEDP stock opened at $229.14 on Monday. The company has a market cap of $7.13 billion, a P/E ratio of 35.14 and a beta of 1.42. Medpace Holdings, Inc. has a 52 week low of $126.94 and a 52 week high of $235.72. The company’s 50-day moving average price is $215.00 and its 200 day moving average price is $184.71.
Medpace (NASDAQ:MEDP – Get Rating) last released its quarterly earnings data on Monday, October 24th. The company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.58. The firm had revenue of $383.74 million for the quarter, compared to the consensus estimate of $357.17 million. Medpace had a net margin of 16.50% and a return on equity of 41.39%. The firm’s revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.29 earnings per share. On average, equities research analysts expect that Medpace Holdings, Inc. will post 6.97 earnings per share for the current year.
Medpace Company Profile
Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. It offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. The company also 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.
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