Riverbridge Partners LLC Sells 34,111 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Riverbridge Partners LLC decreased its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 517,533 shares of the company’s stock after selling 34,111 shares during the period. Medpace comprises approximately 2.3% of Riverbridge Partners LLC’s holdings, making the stock its 9th largest holding. Riverbridge Partners LLC owned 1.67% of Medpace worth $171,940,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Stone House Investment Management LLC bought a new stake in Medpace in the third quarter valued at about $33,000. Ashton Thomas Securities LLC bought a new stake in shares of Medpace in the 3rd quarter valued at approximately $37,000. Capital Performance Advisors LLP acquired a new position in shares of Medpace in the 3rd quarter worth approximately $46,000. True Wealth Design LLC lifted its position in shares of Medpace by 16,800.0% during the 3rd quarter. True Wealth Design LLC now owns 169 shares of the company’s stock worth $56,000 after buying an additional 168 shares during the period. Finally, UMB Bank n.a. raised its stake in Medpace by 191.4% during the third quarter. UMB Bank n.a. now owns 271 shares of the company’s stock worth $90,000 after acquiring an additional 178 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MEDP shares. Baird R W downgraded shares of Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Redburn Atlantic assumed coverage on shares of Medpace in a research report on Monday, October 14th. They issued a “buy” rating and a $404.00 price target on the stock. StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a report on Friday, September 27th. William Blair restated an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. Finally, UBS Group downgraded Medpace from a “buy” rating to a “neutral” rating and cut their price objective for the company from $420.00 to $350.00 in a research report on Friday, September 27th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Medpace has a consensus rating of “Hold” and an average price target of $380.56.

Medpace Stock Down 0.7 %

Medpace stock opened at $345.18 on Thursday. The business’s 50-day simple moving average is $339.73 and its 200 day simple moving average is $356.13. The stock has a market cap of $10.73 billion, a price-to-earnings ratio of 30.23, a P/E/G ratio of 1.78 and a beta of 1.36. Medpace Holdings, Inc. has a 12-month low of $286.76 and a 12-month high of $459.77.

Medpace (NASDAQ:MEDP) last issued its quarterly 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 company had revenue of $533.32 million during the quarter, compared to analysts’ expectations of $540.99 million. Medpace had a net margin of 17.66% and a return on equity of 50.87%. Medpace’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.22 EPS. As a group, sell-side analysts expect that Medpace Holdings, Inc. will post 11.93 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.