Suncoast Equity Management Buys 75 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Suncoast Equity Management boosted its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 4.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,652 shares of the company’s stock after purchasing an additional 75 shares during the period. Suncoast Equity Management’s holdings in Medpace were worth $551,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Mather Group LLC. bought a new stake in shares of Medpace in the first quarter valued at $28,000. Fidelis Capital Partners LLC bought a new stake in Medpace in the 1st quarter valued at about $31,000. DT Investment Partners LLC purchased a new stake in Medpace during the second quarter valued at about $41,000. J.Safra Asset Management Corp increased its stake in shares of Medpace by 87.0% in the first quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock worth $41,000 after purchasing an additional 47 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Medpace in the second quarter valued at approximately $52,000. Institutional investors own 77.98% of the company’s stock.

Medpace Price Performance

MEDP traded up $2.02 during trading on Monday, reaching $358.42. 174,064 shares of the company’s stock were exchanged, compared to its average volume of 264,164. The company’s fifty day simple moving average is $356.43 and its 200-day simple moving average is $383.35. The stock has a market capitalization of $11.10 billion, a P/E ratio of 36.33, a price-to-earnings-growth ratio of 1.77 and a beta of 1.35. Medpace Holdings, Inc. has a 1 year low of $227.21 and a 1 year high of $459.77.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, July 22nd. The company reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.21. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The business had revenue of $528.10 million during the quarter, compared to analysts’ expectations of $528.41 million. During the same quarter in the prior year, the firm earned $1.93 earnings per share. The business’s revenue was up 14.6% compared to the same quarter last year. Equities analysts forecast that Medpace Holdings, Inc. will post 11.64 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. StockNews.com lowered Medpace from a “buy” rating to a “hold” rating in a report on Friday, September 27th. UBS Group downgraded shares of Medpace from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $420.00 to $350.00 in a research note on Friday, September 27th. Jefferies Financial Group lowered shares of Medpace from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $415.00 to $345.00 in a report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Finally, Guggenheim decreased their target price on shares of Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $394.00.

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.