Assetmark Inc. Has $48,000 Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Assetmark Inc. trimmed its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 23.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 144 shares of the company’s stock after selling 43 shares during the quarter. Assetmark Inc.’s holdings in Medpace were worth $48,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Verdence Capital Advisors LLC acquired a new stake in shares of Medpace in the third quarter worth $299,000. CWA Asset Management Group LLC acquired a new stake in shares of Medpace in the third quarter worth $1,306,000. Equitable Trust Co. lifted its stake in shares of Medpace by 19.2% in the third quarter. Equitable Trust Co. now owns 2,757 shares of the company’s stock worth $920,000 after buying an additional 444 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Medpace in the third quarter worth $46,000. Finally, Lifestyle Asset Management Inc. lifted its stake in shares of Medpace by 7.0% in the third quarter. Lifestyle Asset Management Inc. now owns 3,697 shares of the company’s stock worth $1,234,000 after buying an additional 241 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Truist Financial dropped their target price on shares of Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. Robert W. Baird lowered shares of Medpace from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $413.00 to $349.00 in a report on Wednesday, October 23rd. UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $420.00 to $350.00 in a report on Friday, September 27th. Redburn Atlantic initiated coverage on shares of Medpace in a research report on Monday, October 14th. They set a “buy” rating and a $404.00 target price on the stock. Finally, 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 report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Medpace presently has an average rating of “Hold” and a consensus target price of $380.00.

Medpace Stock Performance

Shares of MEDP stock opened at $308.93 on Tuesday. The company has a market capitalization of $9.60 billion, a P/E ratio of 27.20, a price-to-earnings-growth ratio of 1.72 and a beta of 1.37. The company’s 50 day moving average price is $341.51 and its two-hundred day moving average price is $375.46. Medpace Holdings, Inc. has a 52 week low of $268.80 and a 52 week high of $459.77.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, October 21st. The company reported $3.01 EPS for the quarter, topping the consensus estimate of $2.77 by $0.24. The firm 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 business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the company posted $2.22 EPS. Analysts forecast that Medpace Holdings, Inc. will post 11.93 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.