abrdn plc Sells 3,684 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

abrdn plc decreased its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 4.2% during the 3rd quarter, Holdings Channel reports. The fund owned 83,451 shares of the company’s stock after selling 3,684 shares during the quarter. abrdn plc’s holdings in Medpace were worth $27,856,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. TD Asset Management Inc boosted its stake in Medpace by 22.9% during the 1st quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock worth $232,042,000 after acquiring an additional 107,108 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Medpace by 38.3% in the second quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock valued at $182,692,000 after buying an additional 122,800 shares in the last quarter. Epoch Investment Partners Inc. lifted its stake in Medpace by 15.3% in the first quarter. Epoch Investment Partners Inc. now owns 406,446 shares of the company’s stock valued at $164,265,000 after buying an additional 53,983 shares in the last quarter. 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 buying an additional 143,481 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in Medpace by 1.6% in the first quarter. Bessemer Group Inc. now owns 394,834 shares of the company’s stock valued at $159,572,000 after buying an additional 6,137 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. TD Cowen cut their price target on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Robert W. Baird lowered shares of Medpace from an “outperform” rating to a “neutral” rating and cut their price target for the company from $413.00 to $349.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group lowered shares of Medpace from a “buy” rating to a “hold” rating and cut their price objective for the stock from $415.00 to $345.00 in a research report on Wednesday, September 25th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $380.00.

Medpace Trading Down 3.5 %

Shares of MEDP opened at $318.35 on Thursday. The company has a market cap of $9.86 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 1.74 and a beta of 1.35. Medpace Holdings, Inc. has a 1-year low of $239.00 and a 1-year high of $459.77. The company’s fifty day simple moving average is $347.46 and its 200 day simple moving average is $379.60.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.24. The business 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 firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.22 earnings per share. As a group, research analysts forecast that Medpace Holdings, Inc. will post 11.77 earnings per share 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.