Citigroup Inc. Sells 3,186 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Citigroup Inc. lessened its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 14.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,849 shares of the company's stock after selling 3,186 shares during the quarter. Citigroup Inc. owned approximately 0.06% of Medpace worth $6,292,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MEDP. Westwind Capital raised its position in shares of Medpace by 800.1% during the second quarter. Westwind Capital now owns 380,929 shares of the company's stock worth $156,886,000 after acquiring an additional 338,610 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of Medpace by 55.1% during the second quarter. Clearbridge Investments LLC now owns 403,892 shares of the company's stock worth $166,343,000 after buying an additional 143,481 shares during the period. Renaissance Technologies LLC raised its stake in Medpace by 38.3% during the second quarter. Renaissance Technologies LLC now owns 443,588 shares of the company's stock worth $182,692,000 after buying an additional 122,800 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Medpace by 62.3% in the second quarter. AQR Capital Management LLC now owns 310,650 shares of the company's stock valued at $127,941,000 after buying an additional 119,257 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in Medpace by 1,028.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 116,683 shares of the company's stock valued at $48,056,000 after acquiring an additional 106,343 shares during the last quarter. Institutional investors own 77.98% of the company's stock.

Medpace Stock Up 0.5 %

MEDP stock traded up $1.67 during midday trading on Friday, reaching $340.63. 214,814 shares of the company's stock traded hands, compared to its average volume of 374,148. The firm's fifty day moving average price is $337.82 and its 200-day moving average price is $371.22. The company has a market cap of $10.59 billion, a price-to-earnings ratio of 29.83, a P/E/G ratio of 1.88 and a beta of 1.37. Medpace Holdings, Inc. has a 52 week low of $268.80 and a 52 week high of $459.77.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its earnings results on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $533.32 million for the quarter, compared to analysts' expectations of $540.99 million. During the same quarter last year, the business earned $2.22 earnings per share. The business's revenue was up 8.3% on a year-over-year basis. Analysts forecast that Medpace Holdings, Inc. will post 11.93 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MEDP. UBS Group lowered Medpace from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $420.00 to $350.00 in a research report on Friday, September 27th. Jefferies Financial Group cut Medpace from a "buy" rating to a "hold" rating and decreased their target price for the stock from $415.00 to $345.00 in a research note on Wednesday, September 25th. Robert W. Baird boosted their price target on Medpace from $349.00 to $354.00 and gave the company a "neutral" rating in a research note on Monday, November 25th. StockNews.com downgraded shares of Medpace from a "buy" rating to a "hold" rating in a research report on Friday, September 27th. Finally, Baird R W downgraded shares of Medpace from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Medpace currently has an average rating of "Hold" and a consensus 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.