PNC Financial Services Group Inc. Sells 646 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

PNC Financial Services Group Inc. lessened its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 12.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,717 shares of the company’s stock after selling 646 shares during the period. PNC Financial Services Group Inc.’s holdings in Medpace were worth $1,575,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of MEDP. Ashton Thomas Securities LLC bought a new stake in shares of Medpace during the 3rd quarter worth approximately $37,000. DT Investment Partners LLC bought a new stake in Medpace during the second quarter worth $41,000. Capital Performance Advisors LLP acquired a new stake in Medpace in the third quarter valued at $46,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Medpace in the 2nd quarter valued at about $52,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Medpace during the 2nd quarter worth about $61,000. Institutional investors own 77.98% of the company’s stock.

Medpace Stock Down 0.8 %

NASDAQ MEDP opened at $335.21 on Wednesday. The firm has a 50-day moving average price of $339.37 and a two-hundred day moving average price of $372.21. Medpace Holdings, Inc. has a 12-month low of $268.80 and a 12-month high of $459.77. The company has a market capitalization of $10.42 billion, a P/E ratio of 29.35, a P/E/G ratio of 1.87 and a beta of 1.37.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.24. Medpace had a return on equity of 50.87% and a net margin of 17.66%. 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 company posted $2.22 earnings per share. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities analysts expect that Medpace Holdings, Inc. will post 11.93 EPS for the current year.

Analyst Upgrades and Downgrades

MEDP has been the subject of a number of research analyst reports. Truist Financial reduced 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. Redburn Atlantic began coverage on Medpace in a report on Monday, October 14th. They set a “buy” rating and a $404.00 target price on the stock. TD Cowen dropped their price target on Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, William Blair reissued an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. 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, the stock presently has an average rating of “Hold” and an average target price of $380.56.

Medpace 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.