Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Bought by Two Sigma Advisers LP

Two Sigma Advisers LP raised its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 4.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 188,400 shares of the company’s stock after acquiring an additional 8,100 shares during the period. Two Sigma Advisers LP’s holdings in Medpace were worth $62,888,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in MEDP. Iron Triangle Partners LP acquired a new position in Medpace during the third quarter valued at $64,371,000. Clearbridge Investments LLC boosted its stake in shares of Medpace by 55.1% in the second quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock worth $166,343,000 after buying an additional 143,481 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Medpace by 38.3% during the second quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock worth $182,692,000 after acquiring an additional 122,800 shares during the period. AQR Capital Management LLC raised its position in Medpace by 62.3% during the second quarter. AQR Capital Management LLC now owns 310,650 shares of the company’s stock valued at $127,941,000 after acquiring an additional 119,257 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Medpace by 1,028.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 116,683 shares of the company’s stock valued at $48,056,000 after acquiring an additional 106,343 shares during the period. 77.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on MEDP shares. Jefferies Financial Group cut shares of Medpace from a “buy” rating to a “hold” rating and decreased their target price for the company from $415.00 to $345.00 in a research note on Wednesday, September 25th. Redburn Atlantic initiated coverage on shares of Medpace in a research report on Monday, October 14th. They issued a “buy” rating and a $404.00 price objective for the company. Robert W. Baird raised their target price on Medpace from $349.00 to $354.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. TD Cowen cut their price target on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, Baird R W lowered Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $380.56.

Medpace Price Performance

NASDAQ MEDP opened at $350.53 on Friday. Medpace Holdings, Inc. has a 1-year low of $277.72 and a 1-year high of $459.77. The company has a market cap of $10.89 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 1.92 and a beta of 1.37. The stock’s 50 day simple moving average is $338.31 and its 200-day simple moving average is $369.55.

Medpace (NASDAQ:MEDP) last announced 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. The company had revenue of $533.32 million for 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%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.22 EPS. On average, equities research analysts anticipate that Medpace Holdings, Inc. will post 11.93 EPS for the current fiscal year.

Medpace Profile

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.