Argent Capital Management LLC Acquires 74,473 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Argent Capital Management LLC boosted its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 431.5% during the third quarter, Holdings Channel.com reports. The fund owned 91,732 shares of the company’s stock after buying an additional 74,473 shares during the quarter. Argent Capital Management LLC’s holdings in Medpace were worth $30,620,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MEDP. Mather Group LLC. bought a new position in shares of Medpace in the first quarter worth approximately $28,000. Fidelis Capital Partners LLC purchased a new stake in shares of Medpace during the 1st quarter valued at $31,000. DT Investment Partners LLC bought a new stake in shares of Medpace during the 2nd quarter worth $41,000. J.Safra Asset Management Corp increased its stake in Medpace by 87.0% in the first quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock valued at $41,000 after acquiring an additional 47 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Medpace during the second quarter worth about $52,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Stock Down 0.5 %

Shares of MEDP traded down $1.80 during mid-day trading on Thursday, hitting $328.27. 116,616 shares of the company’s stock traded hands, compared to its average volume of 273,286. The firm has a market capitalization of $10.17 billion, a P/E ratio of 33.65, a PEG ratio of 1.77 and a beta of 1.35. The business’s 50-day moving average price is $353.71 and its 200-day moving average price is $382.20. Medpace Holdings, Inc. has a 1 year low of $239.00 and a 1 year high of $459.77.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.24. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The business had revenue of $533.32 million for the quarter, compared to the consensus estimate of $540.99 million. During the same period in the previous year, the firm earned $2.22 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. Sell-side analysts anticipate that Medpace Holdings, Inc. will post 11.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Baird R W cut Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday. UBS Group downgraded shares of Medpace from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $420.00 to $350.00 in a research note on Friday, September 27th. Robert W. Baird lowered shares of Medpace from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $413.00 to $349.00 in a report on Wednesday. TD Cowen decreased their target price on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Truist Financial cut their price target on shares of Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Medpace presently has an average rating of “Hold” and a consensus price target of $380.00.

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.