PNC Financial Services Group Inc. Trims Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

PNC Financial Services Group Inc. lessened its stake in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 22.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,668 shares of the company's stock after selling 1,049 shares during the period. PNC Financial Services Group Inc.'s holdings in Medpace were worth $1,219,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Centaurus Financial Inc. grew its stake in shares of Medpace by 2.0% in the third quarter. Centaurus Financial Inc. now owns 1,513 shares of the company's stock worth $505,000 after acquiring an additional 29 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of Medpace by 27.6% in the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company's stock worth $45,000 after acquiring an additional 29 shares in the last quarter. Assetmark Inc. grew its stake in shares of Medpace by 20.1% in the fourth quarter. Assetmark Inc. now owns 173 shares of the company's stock worth $57,000 after acquiring an additional 29 shares in the last quarter. Proficio Capital Partners LLC grew its stake in shares of Medpace by 4.1% in the fourth quarter. Proficio Capital Partners LLC now owns 730 shares of the company's stock worth $243,000 after acquiring an additional 29 shares in the last quarter. Finally, Schulhoff & Co. Inc. grew its stake in shares of Medpace by 1.2% during the fourth quarter. Schulhoff & Co. Inc. now owns 2,630 shares of the company's stock worth $874,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company's stock.

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Analysts Set New Price Targets

Separately, Robert W. Baird boosted their target price on shares of Medpace from $354.00 to $362.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $381.44.

Medpace Stock Down 2.4 %

MEDP traded down $7.84 on Thursday, reaching $319.63. The company had a trading volume of 285,283 shares, compared to its average volume of 287,563. Medpace Holdings, Inc. has a 1 year low of $302.01 and a 1 year high of $459.77. The stock has a market capitalization of $9.74 billion, a PE ratio of 25.31, a P/E/G ratio of 3.81 and a beta of 1.47. The stock has a 50-day moving average price of $338.95 and a 200-day moving average price of $340.25.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The company reported $3.67 earnings per share for the quarter, beating analysts' consensus estimates of $2.96 by $0.71. Medpace had a net margin of 19.17% and a return on equity of 51.48%. As a group, analysts expect that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

About Medpace

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.