Castleark Management LLC Has $347,000 Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Castleark Management LLC lowered its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 95.8% during the third quarter, Holdings Channel reports. The firm owned 1,040 shares of the company’s stock after selling 23,530 shares during the period. Castleark Management LLC’s holdings in Medpace were worth $347,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP boosted its position in Medpace by 36.0% during the third quarter. Wellington Management Group LLP now owns 415,255 shares of the company’s stock valued at $138,612,000 after acquiring an additional 109,886 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its position in shares of Medpace by 17.8% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 3,950 shares of the company’s stock valued at $1,319,000 after purchasing an additional 598 shares in the last quarter. Two Sigma Advisers LP grew its stake in Medpace by 4.5% during the third quarter. Two Sigma Advisers LP now owns 188,400 shares of the company’s stock worth $62,888,000 after purchasing an additional 8,100 shares during the period. State Street Corp increased its holdings in Medpace by 7.2% in the third quarter. State Street Corp now owns 752,957 shares of the company’s stock worth $251,337,000 after purchasing an additional 50,312 shares in the last quarter. Finally, Iron Triangle Partners LP acquired a new position in Medpace in the third quarter valued at approximately $64,371,000. 77.98% of the stock is owned by institutional investors.

Medpace Stock Up 2.4 %

Shares of NASDAQ:MEDP opened at $350.53 on Friday. The stock has a market cap of $10.89 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 1.92 and a beta of 1.37. The business’s 50 day moving average is $338.31 and its 200 day moving average is $369.36. Medpace Holdings, Inc. has a 12-month low of $277.72 and a 12-month high of $459.77.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.24. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The firm had revenue of $533.32 million during the quarter, compared to analyst estimates of $540.99 million. During the same quarter in the prior year, the business posted $2.22 EPS. The business’s revenue was up 8.3% compared to the same quarter last year. As a group, equities research analysts expect that Medpace Holdings, Inc. will post 11.93 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. TD Cowen lowered their price objective on shares of Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Robert W. Baird increased their price objective on shares of Medpace from $349.00 to $354.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. UBS Group lowered Medpace from a “buy” rating to a “neutral” rating and decreased their target price for the company from $420.00 to $350.00 in a research report on Friday, September 27th. Finally, Jefferies Financial Group lowered Medpace from a “buy” rating to a “hold” rating and cut their price target for the stock from $415.00 to $345.00 in a report on Wednesday, September 25th. Seven 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, Medpace presently has an average rating of “Hold” and an average price target of $380.56.

About Medpace

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.