Allspring Global Investments Holdings LLC Sells 136,591 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Allspring Global Investments Holdings LLC reduced its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 89.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,565 shares of the company's stock after selling 136,591 shares during the period. Allspring Global Investments Holdings LLC owned about 0.05% of Medpace worth $5,523,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pallas Capital Advisors LLC grew its position in shares of Medpace by 179.7% during the 4th quarter. Pallas Capital Advisors LLC now owns 3,270 shares of the company's stock valued at $1,086,000 after acquiring an additional 2,101 shares during the period. Baillie Gifford & Co. boosted its holdings 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 buying an additional 9,478 shares during the period. Barclays PLC boosted its holdings in Medpace by 71.9% in the 3rd quarter. Barclays PLC now owns 19,781 shares of the company's stock worth $6,603,000 after buying an additional 8,275 shares during the period. CWA Asset Management Group LLC bought a new position in Medpace in the 3rd quarter worth approximately $1,306,000. Finally, Oppenheimer Asset Management Inc. boosted its holdings in 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 during the period. 77.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Robert W. Baird increased their target price on shares of Medpace from $354.00 to $362.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Medpace presently has a consensus rating of "Hold" and an average target price of $381.44.

Remove Ads

Medpace Price Performance

Medpace stock traded down $4.07 during trading hours on Friday, reaching $340.78. The stock had a trading volume of 312,177 shares, compared to its average volume of 302,215. The stock has a market cap of $10.38 billion, a PE ratio of 26.98, a PEG ratio of 3.81 and a beta of 1.36. Medpace Holdings, Inc. has a 52 week low of $302.01 and a 52 week high of $459.77. The company has a fifty day simple moving average of $343.13 and a 200-day simple moving average of $346.97.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The company reported $3.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.96 by $0.71. Medpace had a net margin of 19.17% and a return on equity of 51.48%. 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.