Medpace Holdings, Inc. (NASDAQ:MEDP) Stock Holdings Decreased by HighTower Advisors LLC

HighTower Advisors LLC decreased its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 63.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,998 shares of the company's stock after selling 5,243 shares during the quarter. HighTower Advisors LLC's holdings in Medpace were worth $999,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Baillie Gifford & Co. increased its holdings in shares of 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 acquiring an additional 9,478 shares during the period. Oppenheimer Asset Management Inc. grew its position 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 purchasing an additional 2,675 shares during the last quarter. CWA Asset Management Group LLC bought a new position in Medpace in the 3rd quarter worth about $1,306,000. US Bancorp DE increased its stake in shares of Medpace by 59.3% in the third quarter. US Bancorp DE now owns 8,100 shares of the company's stock valued at $2,704,000 after purchasing an additional 3,016 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Medpace during the third quarter valued at approximately $3,098,000. Institutional investors own 77.98% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Baird R W lowered Medpace from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 23rd. Robert W. Baird increased their price target on Medpace from $349.00 to $354.00 and gave the stock a "neutral" rating in a research note on Monday, November 25th. Redburn Atlantic assumed coverage on shares of Medpace in a research note on Monday, October 14th. They set a "buy" rating and a $404.00 price objective on the stock. UBS Group downgraded shares of Medpace from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $420.00 to $350.00 in a report on Friday, September 27th. Finally, Jefferies Financial Group cut shares of Medpace from a "buy" rating to a "hold" rating and lowered their target price for the company from $415.00 to $345.00 in a research note on Wednesday, September 25th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $380.56.

Medpace Stock Performance

Shares of NASDAQ:MEDP traded down $17.48 during trading hours on Wednesday, hitting $331.00. 337,484 shares of the company's stock traded hands, compared to its average volume of 282,572. The company's fifty day simple moving average is $339.54 and its two-hundred day simple moving average is $366.89. The company has a market cap of $10.29 billion, a price-to-earnings ratio of 28.98, a price-to-earnings-growth ratio of 1.89 and a beta of 1.37. Medpace Holdings, Inc. has a 52 week low of $277.72 and a 52 week high of $459.77.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its quarterly 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 analyst estimates of $540.99 million. During the same quarter in the previous year, the business posted $2.22 earnings per share. The firm's quarterly revenue was up 8.3% compared to the same quarter last year. On average, analysts anticipate that Medpace Holdings, Inc. will post 11.93 EPS for the current fiscal 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.