Medpace Holdings, Inc. (NASDAQ:MEDP) Position Lessened by Pitcairn Co.

Pitcairn Co. cut its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 12.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,436 shares of the company’s stock after selling 342 shares during the quarter. Pitcairn Co.’s holdings in Medpace were worth $813,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Cetera Advisors LLC boosted its position in Medpace by 162.4% during the first quarter. Cetera Advisors LLC now owns 2,608 shares of the company’s stock worth $1,054,000 after purchasing an additional 1,614 shares during the period. Baillie Gifford & Co. increased its position in shares of Medpace by 175.6% during the third quarter. Baillie Gifford & Co. now owns 14,876 shares of the company’s stock valued at $4,966,000 after purchasing an additional 9,478 shares during the period. Virtu Financial LLC bought a new stake in Medpace in the 1st quarter valued at $1,239,000. CWA Asset Management Group LLC bought a new stake in Medpace in the third quarter valued at about $1,306,000. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Medpace by 6.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 45,473 shares of the company’s stock worth $15,179,000 after buying an additional 2,675 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MEDP shares. William Blair reiterated an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. Robert W. Baird lowered shares of Medpace from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $413.00 to $349.00 in a research report on Wednesday, October 23rd. TD Cowen lowered their price target on shares of Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Baird R W downgraded Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Redburn Atlantic assumed coverage on Medpace in a research note on Monday, October 14th. They issued a “buy” rating and a $404.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $380.00.

Medpace Stock Down 1.2 %

NASDAQ:MEDP opened at $337.75 on Monday. Medpace Holdings, Inc. has a 12-month low of $268.80 and a 12-month high of $459.77. The stock’s fifty day simple moving average is $340.14 and its 200-day simple moving average is $373.03. The firm has a market capitalization of $10.50 billion, a P/E ratio of 29.58, a P/E/G ratio of 1.87 and a beta of 1.37.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.24. The firm had revenue of $533.32 million for the quarter, compared to analysts’ expectations of $540.99 million. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.22 earnings per share. As a group, equities research analysts expect that Medpace Holdings, Inc. will post 11.93 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. 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.