Invesco LLC Lowers Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Invesco LLC trimmed its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 4.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,815 shares of the company’s stock after selling 120 shares during the period. Invesco LLC’s holdings in Medpace were worth $935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in MEDP. State Street Corp grew its position in shares of Medpace by 7.2% during the 3rd quarter. State Street Corp now owns 752,957 shares of the company’s stock valued at $251,337,000 after acquiring an additional 50,312 shares during the period. Geode Capital Management LLC raised its stake in shares of Medpace by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 628,054 shares of the company’s stock worth $209,885,000 after buying an additional 44,371 shares during the period. Wellington Management Group LLP lifted its position in shares of Medpace by 36.0% during the 3rd quarter. Wellington Management Group LLP now owns 415,255 shares of the company’s stock valued at $138,612,000 after buying an additional 109,886 shares in the last quarter. Clearbridge Investments LLC grew its stake in Medpace by 55.1% in the 2nd quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock valued at $166,343,000 after acquiring an additional 143,481 shares during the period. Finally, American Capital Management Inc. increased its holdings in Medpace by 2.6% in the 3rd quarter. American Capital Management Inc. now owns 380,646 shares of the company’s stock worth $127,060,000 after acquiring an additional 9,592 shares in the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MEDP has been the topic of several research analyst reports. Robert W. Baird lifted their target price on shares of Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a research report on Monday. TD Cowen cut their price objective on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Truist Financial reduced their target price on Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a report on Monday, October 14th. William Blair reaffirmed an “outperform” rating on shares of Medpace in a research note on Tuesday, October 22nd. Finally, Redburn Atlantic initiated coverage on Medpace in a research note on Monday, October 14th. They issued a “buy” rating and a $404.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $381.44.

Medpace Price Performance

Shares of MEDP traded down $1.86 during mid-day trading on Wednesday, reaching $343.95. The stock had a trading volume of 16,397 shares, compared to its average volume of 203,837. Medpace Holdings, Inc. has a 52-week low of $286.76 and a 52-week high of $459.77. The firm has a market cap of $10.69 billion, a price-to-earnings ratio of 30.06, a P/E/G ratio of 1.77 and a beta of 1.36. The business’s fifty day moving average is $341.16 and its 200 day moving average is $354.14.

About Medpace

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.