Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Sold by Smith Group Asset Management LLC

Smith Group Asset Management LLC reduced its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,258 shares of the company’s stock after selling 2,780 shares during the period. Medpace makes up 1.8% of Smith Group Asset Management LLC’s holdings, making the stock its 24th largest position. Smith Group Asset Management LLC owned approximately 0.24% of Medpace worth $24,671,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Pallas Capital Advisors LLC grew its holdings in shares of Medpace by 179.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 3,270 shares of the company’s stock valued at $1,086,000 after buying an additional 2,101 shares during the last quarter. Baillie Gifford & Co. lifted its position in Medpace by 175.6% during the 3rd quarter. Baillie Gifford & Co. now owns 14,876 shares of the company’s stock worth $4,966,000 after acquiring an additional 9,478 shares during the period. Barclays PLC grew its stake in Medpace by 71.9% during the 3rd quarter. Barclays PLC now owns 19,781 shares of the company’s stock valued at $6,603,000 after purchasing an additional 8,275 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Medpace by 6.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 45,473 shares of the company’s stock valued at $15,179,000 after purchasing an additional 2,675 shares during the period. Finally, CWA Asset Management Group LLC purchased a new position in shares of Medpace in the third quarter worth about $1,306,000. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Medpace Stock Performance

MEDP stock opened at $345.81 on Wednesday. Medpace Holdings, Inc. has a one year low of $286.76 and a one year high of $459.77. The firm’s fifty day moving average is $341.16 and its 200 day moving average is $354.14. The firm has a market cap of $10.75 billion, a PE ratio of 30.28, a P/E/G ratio of 1.77 and a beta of 1.36.

Wall Street Analyst Weigh In

MEDP has been the topic of a number of recent research reports. Redburn Atlantic started coverage on Medpace in a research report on Monday, October 14th. They issued a “buy” rating and a $404.00 target price on the stock. 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 report on Monday, October 14th. William Blair reissued an “outperform” rating on shares of Medpace in a report on Tuesday, October 22nd. Baird R W downgraded shares of Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, TD Cowen cut their price target on Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $381.44.

Medpace Company Profile

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.