Fifth Third Wealth Advisors LLC Sells 30 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Fifth Third Wealth Advisors LLC reduced its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 3.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 749 shares of the company’s stock after selling 30 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Medpace were worth $249,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Baillie Gifford & Co. boosted its position in Medpace by 175.6% during the 3rd quarter. Baillie Gifford & Co. now owns 14,876 shares of the company’s stock valued at $4,966,000 after acquiring an additional 9,478 shares in the last quarter. Pallas Capital Advisors LLC boosted its position in Medpace by 179.7% during 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 in the last quarter. Barclays PLC boosted its position in Medpace by 71.9% during the third quarter. Barclays PLC now owns 19,781 shares of the company’s stock valued at $6,603,000 after purchasing an additional 8,275 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Medpace by 6.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 45,473 shares of the company’s stock valued at $15,179,000 after purchasing an additional 2,675 shares during the last quarter. Finally, CWA Asset Management Group LLC bought a new position in Medpace in the third quarter worth about $1,306,000. 77.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MEDP shares. UBS Group downgraded shares of Medpace from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $420.00 to $350.00 in a research report on Friday, September 27th. Jefferies Financial Group downgraded Medpace from a “buy” rating to a “hold” rating and reduced their price target for the stock from $415.00 to $345.00 in a research report on Wednesday, September 25th. Redburn Atlantic initiated coverage on Medpace in a research report on Monday, October 14th. They issued a “buy” rating and a $404.00 price objective for the company. StockNews.com downgraded Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Finally, Truist Financial lowered their price target on Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a report on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $380.56.

Medpace Stock Up 0.2 %

Medpace stock opened at $337.35 on Friday. Medpace Holdings, Inc. has a 52 week low of $284.32 and a 52 week high of $459.77. The stock has a 50-day moving average price of $340.52 and a 200 day moving average price of $357.63. The company has a market capitalization of $10.48 billion, a price-to-earnings ratio of 29.54, a price-to-earnings-growth ratio of 1.80 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, October 21st. The company reported $3.01 EPS for the quarter, beating the consensus estimate of $2.77 by $0.24. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The business had revenue of $533.32 million during the quarter, compared to analysts’ expectations of $540.99 million. During the same period in the previous year, the business posted $2.22 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Research analysts anticipate that Medpace Holdings, Inc. will post 11.93 EPS for the current fiscal year.

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.