Oppenheimer Asset Management Inc. Cuts Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Oppenheimer Asset Management Inc. lowered its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 13.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,461 shares of the company’s stock after selling 6,012 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Medpace were worth $13,110,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pallas Capital Advisors LLC raised its holdings in shares of Medpace by 179.7% in the fourth quarter. Pallas Capital Advisors LLC now owns 3,270 shares of the company’s stock valued at $1,086,000 after purchasing an additional 2,101 shares during the last quarter. Baillie Gifford & Co. grew its position in Medpace by 175.6% in the 3rd quarter. Baillie Gifford & Co. now owns 14,876 shares of the company’s stock worth $4,966,000 after purchasing an additional 9,478 shares in the last quarter. Barclays PLC increased its stake in Medpace by 71.9% in the 3rd quarter. Barclays PLC now owns 19,781 shares of the company’s stock valued at $6,603,000 after buying an additional 8,275 shares during the last quarter. CWA Asset Management Group LLC bought a new position in shares of Medpace during the 3rd quarter worth approximately $1,306,000. Finally, US Bancorp DE boosted its stake in shares of Medpace by 59.3% in the 3rd quarter. US Bancorp DE now owns 8,100 shares of the company’s stock worth $2,704,000 after buying an additional 3,016 shares during the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Robert W. Baird boosted their price objective on Medpace from $354.00 to $362.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Medpace currently has an average rating of “Hold” and a consensus price target of $381.44.

Medpace Stock Performance

Shares of MEDP opened at $326.11 on Friday. Medpace Holdings, Inc. has a fifty-two week low of $302.01 and a fifty-two week high of $459.77. The business has a 50-day moving average of $342.86 and a 200 day moving average of $346.05. The firm has a market cap of $9.94 billion, a P/E ratio of 25.82, a price-to-earnings-growth ratio of 3.81 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last posted its 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 net margin of 19.17% and a return on equity of 51.48%. As a group, research analysts predict that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal 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.