Gallacher Capital Management LLC Reduces Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Gallacher Capital Management LLC reduced its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 11.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,533 shares of the company’s stock after selling 201 shares during the quarter. Gallacher Capital Management LLC’s holdings in Medpace were worth $509,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. State Street Corp grew its holdings in shares of Medpace by 7.2% in the third quarter. State Street Corp now owns 752,957 shares of the company’s stock valued at $251,337,000 after purchasing an additional 50,312 shares during the period. Geode Capital Management LLC grew its stake in shares of Medpace by 7.6% in the 3rd quarter. Geode Capital Management LLC now owns 628,054 shares of the company’s stock valued at $209,885,000 after buying an additional 44,371 shares during the period. Wellington Management Group LLP increased its stake in Medpace by 36.0% during the third quarter. Wellington Management Group LLP now owns 415,255 shares of the company’s stock worth $138,612,000 after acquiring an additional 109,886 shares during the last quarter. American Capital Management Inc. raised its position in Medpace by 2.6% in the third quarter. American Capital Management Inc. now owns 380,646 shares of the company’s stock valued at $127,060,000 after purchasing an additional 9,592 shares during the period. Finally, GW&K Investment Management LLC lifted its stake in shares of Medpace by 93.9% in the 4th quarter. GW&K Investment Management LLC now owns 275,460 shares of the company’s stock valued at $91,516,000 after purchasing an additional 133,379 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird boosted their price objective on shares of Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $381.44.

Medpace Stock Performance

Shares of MEDP stock opened at $324.95 on Friday. The stock has a market capitalization of $9.90 billion, a P/E ratio of 25.73, a price-to-earnings-growth ratio of 3.81 and a beta of 1.47. The company has a 50 day moving average price of $340.28 and a 200 day moving average price of $341.12. Medpace Holdings, Inc. has a fifty-two week low of $302.01 and a fifty-two week high of $459.77.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, February 10th. The company reported $3.67 EPS for the quarter, topping the consensus estimate of $2.96 by $0.71. Medpace had a net margin of 19.17% and a return on equity of 51.48%. On average, research analysts forecast that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

Medpace 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.