Comerica Bank lowered its stake in Medpace Holdings, Inc. (NASDAQ:MEDP – Get Rating) by 8.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,443 shares of the company’s stock after selling 1,045 shares during the period. Comerica Bank’s holdings in Medpace were worth $1,815,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in MEDP. Ronald Blue Trust Inc. grew its stake in shares of Medpace by 59.8% in the 3rd quarter. Ronald Blue Trust Inc. now owns 187 shares of the company’s stock worth $28,000 after buying an additional 70 shares during the last quarter. CWM LLC boosted its stake in Medpace by 63.0% in the 3rd quarter. CWM LLC now owns 176 shares of the company’s stock worth $28,000 after purchasing an additional 68 shares in the last quarter. Wipfli Financial Advisors LLC bought a new position in Medpace in the 3rd quarter worth about $32,000. Point72 Hong Kong Ltd purchased a new stake in Medpace during the 2nd quarter valued at about $42,000. Finally, China Universal Asset Management Co. Ltd. bought a new stake in Medpace during the 3rd quarter valued at about $46,000. Hedge funds and other institutional investors own 82.49% of the company’s stock.
Medpace Stock Up 0.1 %
Shares of NASDAQ MEDP opened at $229.14 on Friday. The firm’s 50-day moving average price is $215.00 and its 200-day moving average price is $184.29. The company has a market cap of $7.13 billion, a PE ratio of 35.14 and a beta of 1.42. Medpace Holdings, Inc. has a 52-week low of $126.94 and a 52-week high of $235.72.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the stock. UBS Group upgraded shares of Medpace from a “sell” rating to a “neutral” rating and increased their price target for the company from $142.00 to $238.00 in a report on Thursday, October 27th. Robert W. Baird increased their target price on Medpace from $217.00 to $226.00 in a research note on Friday, January 13th. Finally, StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a research note on Friday, October 28th.
Insider Transactions at Medpace
In other Medpace news, General Counsel Stephen P. Ewald sold 6,500 shares of the firm’s stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $220.53, for a total value of $1,433,445.00. Following the transaction, the general counsel now directly owns 14,854 shares of the company’s stock, valued at $3,275,752.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 20.60% of the company’s stock.
Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. It offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. The company also 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.
- Get a free copy of the StockNews.com research report on Medpace (MEDP)
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