Allspring Global Investments Holdings LLC Reduces Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Allspring Global Investments Holdings LLC reduced its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 72.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,589 shares of the company's stock after selling 11,976 shares during the period. Allspring Global Investments Holdings LLC's holdings in Medpace were worth $1,366,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in Medpace in the fourth quarter worth about $31,000. Jones Financial Companies Lllp raised its stake in Medpace by 2,750.0% in the fourth quarter. Jones Financial Companies Lllp now owns 114 shares of the company's stock worth $38,000 after buying an additional 110 shares in the last quarter. Assetmark Inc. raised its stake in Medpace by 20.1% in the fourth quarter. Assetmark Inc. now owns 173 shares of the company's stock worth $57,000 after buying an additional 29 shares in the last quarter. Colonial Trust Co SC raised its stake in Medpace by 150.0% in the fourth quarter. Colonial Trust Co SC now owns 175 shares of the company's stock worth $58,000 after buying an additional 105 shares in the last quarter. Finally, Nemes Rush Group LLC bought a new position in Medpace in the fourth quarter worth about $86,000. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MEDP shares. Truist Financial decreased their price target on shares of Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. TD Cowen cut Medpace from a "buy" rating to a "hold" rating and dropped their price target for the stock from $370.00 to $328.00 in a research report on Monday, April 14th. Leerink Partnrs raised Medpace to a "hold" rating in a research report on Monday, March 24th. Leerink Partners assumed coverage on Medpace in a research report on Monday, March 24th. They issued a "market perform" rating and a $330.00 price target on the stock. Finally, Barclays assumed coverage on Medpace in a research report on Tuesday, June 24th. They issued an "equal weight" rating and a $300.00 price target on the stock. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $344.82.

Insider Transactions at Medpace

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of Medpace stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $301.82, for a total transaction of $516,715.84. Following the transaction, the director owned 2,998 shares in the company, valued at $904,856.36. This trade represents a 36.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 20.30% of the company's stock.

Medpace Stock Down 0.8%

Shares of MEDP opened at $318.90 on Tuesday. Medpace Holdings, Inc. has a twelve month low of $250.05 and a twelve month high of $459.77. The firm has a 50 day moving average of $304.15 and a 200 day moving average of $319.03. The company has a market capitalization of $9.17 billion, a P/E ratio of 24.34, a price-to-earnings-growth ratio of 5.80 and a beta of 1.47.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its earnings results on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.61. Medpace had a net margin of 19.31% and a return on equity of 54.36%. The company had revenue of $558.57 million for the quarter, compared to analysts' expectations of $528.38 million. During the same quarter last year, the company posted $3.20 earnings per share. On average, sell-side analysts expect that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

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.

Want to see what other hedge funds are holding MEDP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.