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

Allspring Global Investments Holdings LLC lessened its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 89.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,565 shares of the company’s stock after selling 136,591 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.05% of Medpace worth $5,523,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. R Squared Ltd acquired a new position in Medpace in the 4th quarter valued at $30,000. Stone House Investment Management LLC purchased a new position in shares of Medpace during the 3rd quarter worth about $33,000. Ashton Thomas Securities LLC acquired a new position in shares of Medpace in the 3rd quarter valued at $37,000. Capital Performance Advisors LLP purchased a new position in shares of Medpace in the 3rd quarter worth $46,000. Finally, True Wealth Design LLC grew its position in Medpace by 16,800.0% during the third quarter. True Wealth Design LLC now owns 169 shares of the company’s stock valued at $56,000 after acquiring an additional 168 shares during the period. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Medpace Trading Up 1.0 %

NASDAQ MEDP opened at $344.01 on Thursday. The company has a 50-day moving average price of $343.28 and a two-hundred day moving average price of $347.47. The stock has a market cap of $10.48 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 3.76 and a beta of 1.36. Medpace Holdings, Inc. has a 52 week low of $302.01 and a 52 week high of $459.77.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on MEDP shares. Robert W. Baird raised their price target on shares of Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a report on Monday, January 27th. TD Cowen reduced their target price on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Baird R W cut Medpace from a “strong-buy” rating to a “hold” rating in a research note 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $381.44.

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.