Glenmede Trust Co. NA Sells 56,046 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Glenmede Trust Co. NA reduced its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 73.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,245 shares of the company's stock after selling 56,046 shares during the period. Glenmede Trust Co. NA owned about 0.07% of Medpace worth $6,758,000 at the end of the most recent reporting period.

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

Medpace Stock Performance

Medpace stock traded up $1.67 during trading hours on Friday, reaching $340.63. 214,814 shares of the stock were exchanged, compared to its average volume of 284,415. Medpace Holdings, Inc. has a 52-week low of $268.80 and a 52-week high of $459.77. The stock has a market cap of $10.59 billion, a P/E ratio of 29.83, a P/E/G ratio of 1.88 and a beta of 1.37. The firm's 50 day moving average is $337.82 and its 200 day moving average is $371.22.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $540.99 million. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The company's quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company earned $2.22 EPS. Equities research analysts expect that Medpace Holdings, Inc. will post 11.93 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on MEDP shares. Truist Financial dropped their price objective on Medpace from $415.00 to $397.00 and set a "hold" rating on the stock in a report on Monday, October 14th. Baird R W lowered Medpace from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. William Blair reiterated an "outperform" rating on shares of Medpace in a research note on Tuesday, October 22nd. Redburn Atlantic initiated coverage on shares of Medpace in a research report on Monday, October 14th. They set a "buy" rating and a $404.00 target price on the stock. Finally, StockNews.com cut shares of Medpace from a "buy" rating to a "hold" rating in a report on Friday, September 27th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Medpace currently has a consensus rating of "Hold" and a consensus price target of $380.56.

About Medpace

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.