Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Sold by Eagle Asset Management Inc.

Eagle Asset Management Inc. reduced its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 40.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 163,647 shares of the company's stock after selling 110,026 shares during the quarter. Eagle Asset Management Inc. owned about 0.53% of Medpace worth $59,369,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MEDP. Banco Santander S.A. boosted its holdings in Medpace by 51.6% during the third quarter. Banco Santander S.A. now owns 1,959 shares of the company's stock worth $654,000 after buying an additional 667 shares in the last quarter. King Luther Capital Management Corp lifted its position in shares of Medpace by 10.4% during the 3rd quarter. King Luther Capital Management Corp now owns 17,216 shares of the company's stock valued at $5,747,000 after acquiring an additional 1,619 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Medpace by 16.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 6,149 shares of the company's stock worth $2,053,000 after acquiring an additional 854 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Medpace by 466.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,425 shares of the company's stock worth $8,821,000 after acquiring an additional 21,764 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Medpace in the 3rd quarter worth approximately $3,098,000. Institutional investors and hedge funds own 77.98% of the company's stock.

Wall Street Analyst Weigh In

MEDP has been the subject of a number of recent research reports. Robert W. Baird cut shares of Medpace from an "outperform" rating to a "neutral" rating and dropped their price objective for the stock from $413.00 to $349.00 in a research note on Wednesday, October 23rd. Redburn Atlantic assumed coverage on shares of Medpace in a research report on Monday, October 14th. They issued a "buy" rating and a $404.00 price objective for the company. Baird R W lowered shares of Medpace from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 23rd. Truist Financial dropped their target price on Medpace from $415.00 to $397.00 and set a "hold" rating on the stock in a report on Monday, October 14th. Finally, William Blair restated an "outperform" rating on shares of Medpace in a report on Tuesday, October 22nd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $380.00.

Medpace Price Performance

MEDP traded up $0.24 during trading on Friday, hitting $342.06. The company had a trading volume of 160,202 shares, compared to its average volume of 284,408. The company has a market cap of $10.63 billion, a PE ratio of 30.32, a P/E/G ratio of 1.74 and a beta of 1.37. Medpace Holdings, Inc. has a 1-year low of $268.80 and a 1-year high of $459.77. The business has a 50-day moving average of $340.42 and a 200-day moving average of $373.77.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its quarterly 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 business 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%. The company's quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.22 earnings per share. Research analysts forecast that Medpace Holdings, Inc. will post 11.93 earnings per share for the current 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.