Pitcairn Co. Has $813,000 Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Pitcairn Co. lessened its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 12.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,436 shares of the company’s stock after selling 342 shares during the quarter. Pitcairn Co.’s holdings in Medpace were worth $813,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MEDP. Westwind Capital grew its position in shares of Medpace by 800.1% in the 2nd quarter. Westwind Capital now owns 380,929 shares of the company’s stock valued at $156,886,000 after acquiring an additional 338,610 shares during the period. Clearbridge Investments LLC grew its holdings in Medpace by 55.1% during the second quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock worth $166,343,000 after purchasing an additional 143,481 shares during the period. Renaissance Technologies LLC grew its holdings in Medpace by 38.3% during the second quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock worth $182,692,000 after purchasing an additional 122,800 shares during the period. AQR Capital Management LLC increased its position in Medpace by 62.3% during the second quarter. AQR Capital Management LLC now owns 310,650 shares of the company’s stock worth $127,941,000 after buying an additional 119,257 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Medpace by 1,028.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 116,683 shares of the company’s stock valued at $48,056,000 after buying an additional 106,343 shares during the period. 77.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on MEDP. Baird R W downgraded Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. TD Cowen reduced their price objective on shares of Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Truist Financial dropped their price objective 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. StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating 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 price target for the company from $415.00 to $345.00 in a report on Wednesday, September 25th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $380.00.

Medpace Stock Performance

NASDAQ:MEDP opened at $337.75 on Monday. Medpace Holdings, Inc. has a 52 week low of $268.80 and a 52 week high of $459.77. The firm’s 50-day simple moving average is $340.14 and its 200 day simple moving average is $373.03. The firm has a market cap of $10.50 billion, a price-to-earnings ratio of 29.58, a P/E/G ratio of 1.87 and a beta of 1.37.

Medpace (NASDAQ:MEDP) 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. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The company had revenue of $533.32 million for the quarter, compared to analysts’ expectations of $540.99 million. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the firm earned $2.22 earnings per share. Sell-side analysts anticipate that Medpace Holdings, Inc. will post 11.93 EPS for the current year.

Medpace Company 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.