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

Martingale Asset Management L P lowered its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 39.7% in the 3rd quarter, Holdings Channel.com reports. 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 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in MEDP. Westwind Capital grew its position in shares of Medpace by 800.1% during 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 lifted its stake in Medpace by 55.1% in the second quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock valued at $166,343,000 after purchasing an additional 143,481 shares during the last quarter. 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 valued at $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% in 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 shares of 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. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. 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. UBS Group downgraded shares of Medpace from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $420.00 to $350.00 in a research note on Friday, September 27th. William Blair reissued an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Finally, Redburn Atlantic began coverage on shares of Medpace in a report on Monday, October 14th. They set a “buy” rating and a $404.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $380.56.

Medpace Price Performance

NASDAQ MEDP opened at $342.36 on Tuesday. The company’s 50 day simple moving average is $337.43 and its two-hundred 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. The stock has a market capitalization of $10.64 billion, a PE ratio of 29.98, a P/E/G ratio of 1.88 and a beta of 1.37.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, October 21st. The company reported $3.01 earnings per share 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 analysts’ expectations of $540.99 million. During the same quarter in the prior year, the firm posted $2.22 earnings per share. The business’s quarterly revenue was up 8.3% on a year-over-year basis. On average, research analysts anticipate that Medpace Holdings, Inc. will post 11.93 EPS for the current 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.