Martingale Asset Management L P Sells 1,600 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Martingale Asset Management L P cut its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 39.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,434 shares of the company's stock after selling 1,600 shares during the period. Martingale Asset Management L P's holdings in Medpace were worth $812,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MEDP. Stone House Investment Management LLC purchased a new position in Medpace during the third quarter valued at approximately $33,000. Ashton Thomas Securities LLC bought a new stake in Medpace in the third quarter worth approximately $37,000. DT Investment Partners LLC acquired a new stake in shares of Medpace in the second quarter worth $41,000. Capital Performance Advisors LLP acquired a new position in Medpace during the 3rd quarter valued at $46,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Medpace in the 2nd quarter valued at $52,000. 77.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on MEDP. Redburn Atlantic began coverage on shares of Medpace in a report on Monday, October 14th. They set a "buy" rating and a $404.00 price objective on the stock. Jefferies Financial Group lowered shares of Medpace from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $415.00 to $345.00 in a report on Wednesday, September 25th. StockNews.com downgraded shares of Medpace from a "buy" rating to a "hold" rating in a research report on Friday, September 27th. Truist Financial cut their target price on shares of Medpace from $415.00 to $397.00 and set a "hold" rating on the stock in a research report on Monday, October 14th. Finally, UBS Group downgraded shares of Medpace from a "buy" rating to a "neutral" rating and cut their target price for the company from $420.00 to $350.00 in a research report on Friday, September 27th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $380.56.

Medpace Stock Performance

MEDP stock traded down $3.09 during mid-day trading on Tuesday, hitting $339.27. 190,907 shares of the company were exchanged, compared to its average volume of 283,621. The firm has a market cap of $10.54 billion, a P/E ratio of 29.71, a P/E/G ratio of 1.89 and a beta of 1.37. The firm's 50 day simple moving average is $337.43 and its 200 day simple moving average is $370.62. Medpace Holdings, Inc. has a 1-year low of $273.14 and a 1-year high of $459.77.

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

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.