Vanguard Group Inc. increased its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 23.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,014,439 shares of the company’s stock after acquiring an additional 191,597 shares during the quarter. Vanguard Group Inc. owned about 2.57% of Medpace Holdings worth $29,419,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in MEDP. Bank of New York Mellon Corp raised its holdings in Medpace Holdings by 15.1% in the 1st quarter. Bank of New York Mellon Corp now owns 35,062 shares of the company’s stock worth $1,047,000 after acquiring an additional 4,609 shares during the period. Prudential Financial Inc. bought a new position in Medpace Holdings in the 1st quarter worth $1,026,000. American International Group Inc. bought a new position in Medpace Holdings in the 1st quarter worth $145,000. Teachers Advisors LLC raised its holdings in Medpace Holdings by 9.1% in the 1st quarter. Teachers Advisors LLC now owns 27,271 shares of the company’s stock worth $814,000 after acquiring an additional 2,278 shares during the period. Finally, TIAA CREF Investment Management LLC raised its holdings in Medpace Holdings by 13.7% in the 1st quarter. TIAA CREF Investment Management LLC now owns 127,562 shares of the company’s stock worth $3,808,000 after acquiring an additional 15,395 shares during the period. Hedge funds and other institutional investors own 17.15% of the company’s stock.
Medpace Holdings, Inc. (NASDAQ MEDP) opened at $34.55 on Friday. Medpace Holdings, Inc. has a twelve month low of $21.76 and a twelve month high of $39.64. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36. The stock has a market cap of $1,335.40, a PE ratio of 24.16, a PEG ratio of 1.82 and a beta of -0.34.
Medpace Holdings (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, October 30th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. Medpace Holdings had a net margin of 6.44% and a return on equity of 10.00%. The company had revenue of $98.68 million for the quarter, compared to the consensus estimate of $96.84 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The business’s revenue was up 4.1% compared to the same quarter last year. equities research analysts forecast that Medpace Holdings, Inc. will post 1.5 earnings per share for the current year.
Several research analysts recently commented on MEDP shares. Zacks Investment Research upgraded shares of Medpace Holdings from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Friday, November 3rd. Jefferies Group LLC reiterated a “hold” rating and issued a $31.00 target price (up previously from $30.00) on shares of Medpace Holdings in a report on Wednesday, August 2nd. KeyCorp reiterated a “hold” rating on shares of Medpace Holdings in a report on Tuesday, October 17th. Robert W. Baird reiterated a “hold” rating and issued a $32.00 target price on shares of Medpace Holdings in a report on Monday, October 9th. Finally, Raymond James Financial, Inc. started coverage on shares of Medpace Holdings in a report on Friday, September 29th. They issued a “market perform” rating on the stock. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $36.60.
In other news, major shareholder Medpace Limited Partnership sold 2,000,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $30.27, for a total transaction of $60,540,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 25.80% of the company’s stock.
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Medpace Holdings Company Profile
Medpace Holdings, Inc is a clinical contract research organization. The Company provides clinical research-based drug and medical device development services. The Company partners with pharmaceutical, biotechnology, and medical device companies in the development and execution of clinical trials. The Company’s drug development services focus on full service Phase I-IV clinical development services and include 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.
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