Empowered Funds LLC Sells 9,493 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Empowered Funds LLC decreased its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 59.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,563 shares of the company's stock after selling 9,493 shares during the quarter. Empowered Funds LLC's holdings in Medpace were worth $2,191,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Cetera Advisors LLC lifted its stake in shares of Medpace by 162.4% during the 1st quarter. Cetera Advisors LLC now owns 2,608 shares of the company's stock valued at $1,054,000 after buying an additional 1,614 shares in the last quarter. Baillie Gifford & Co. increased 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 purchasing an additional 9,478 shares during the period. Natixis acquired a new stake in Medpace in the first quarter valued at approximately $727,000. Virtu Financial LLC acquired a new position in Medpace during the 1st quarter valued at approximately $1,239,000. Finally, CWA Asset Management Group LLC acquired a new stake in Medpace during the 3rd quarter worth about $1,306,000. 77.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MEDP. Redburn Atlantic started coverage on shares of Medpace in a research report on Monday, October 14th. They set a "buy" rating and a $404.00 price target on the stock. Jefferies Financial Group cut shares of Medpace from a "buy" rating to a "hold" rating and lowered their price target for the stock from $415.00 to $345.00 in a report on Wednesday, September 25th. Truist Financial decreased their target price on Medpace from $415.00 to $397.00 and set a "hold" rating for the company in a research report on Monday, October 14th. Baird R W cut Medpace from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 23rd. Finally, UBS Group cut Medpace from a "buy" rating to a "neutral" rating and dropped their price target for the company from $420.00 to $350.00 in a research report on Friday, September 27th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $380.00.

Medpace Stock Performance

Medpace stock opened at $326.09 on Thursday. The stock has a fifty day moving average of $340.48 and a 200-day moving average of $373.99. Medpace Holdings, Inc. has a 52 week low of $268.80 and a 52 week high of $459.77. The stock has a market capitalization of $10.13 billion, a P/E ratio of 28.55, a price-to-earnings-growth ratio of 1.74 and a beta of 1.37.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its quarterly earnings results on Monday, October 21st. The company reported $3.01 EPS for the quarter, topping analysts' consensus estimates of $2.77 by $0.24. The company had revenue of $533.32 million for the quarter, compared to analysts' expectations of $540.99 million. Medpace had a net margin of 17.66% and a return on equity of 50.87%. Medpace's revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.22 EPS. On average, research analysts forecast that Medpace Holdings, Inc. will post 11.93 earnings per share for the current year.

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.