abrdn plc Decreases Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

abrdn plc decreased its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 22.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,854 shares of the company's stock after selling 18,597 shares during the period. abrdn plc owned approximately 0.21% of Medpace worth $21,546,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MEDP. R Squared Ltd acquired a new position in Medpace during the 4th quarter valued at about $30,000. Stone House Investment Management LLC purchased a new position in shares of Medpace during the third quarter valued at approximately $33,000. Ashton Thomas Securities LLC bought a new stake in Medpace during the third quarter worth $37,000. Capital Performance Advisors LLP purchased a new stake in Medpace in the 3rd quarter valued at $46,000. Finally, True Wealth Design LLC lifted its stake in Medpace by 16,800.0% during the 3rd quarter. True Wealth Design LLC now owns 169 shares of the company's stock valued at $56,000 after acquiring an additional 168 shares in the last quarter. 77.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on MEDP shares. TD Cowen dropped their target price on shares of Medpace from $413.00 to $372.00 and set a "buy" rating on the stock in a research report on Wednesday, October 23rd. William Blair reissued an "outperform" rating on shares of Medpace in a research report on Tuesday, October 22nd. Robert W. Baird raised their target price on Medpace from $354.00 to $362.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. Truist Financial cut their price target on shares of Medpace from $415.00 to $397.00 and set a "hold" rating on the stock in a report on Monday, October 14th. Finally, Redburn Atlantic started coverage on shares of Medpace in a research report on Monday, October 14th. They issued a "buy" rating and a $404.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $381.44.

Medpace Price Performance

MEDP stock opened at $354.51 on Tuesday. The firm has a 50-day moving average of $343.88 and a 200 day moving average of $349.52. The company has a market cap of $11.02 billion, a P/E ratio of 31.04, a PEG ratio of 1.85 and a beta of 1.36. Medpace Holdings, Inc. has a 1 year low of $302.01 and a 1 year high of $459.77.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.71. Medpace had a return on equity of 50.87% and a net margin of 17.66%. On average, equities research analysts expect that Medpace Holdings, Inc. will post 11.93 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.