Icon Wealth Advisors LLC Purchases 249 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Icon Wealth Advisors LLC increased its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 22.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,337 shares of the company’s stock after purchasing an additional 249 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Medpace were worth $446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of MEDP. Signaturefd LLC lifted its stake in Medpace by 4.9% in the second quarter. Signaturefd LLC now owns 559 shares of the company’s stock worth $230,000 after acquiring an additional 26 shares during the period. Wealth Alliance increased its position in shares of Medpace by 2.9% during the second quarter. Wealth Alliance now owns 970 shares of the company’s stock valued at $399,000 after buying an additional 27 shares during the period. Commonwealth Equity Services LLC raised its stake in Medpace by 0.7% in the second quarter. Commonwealth Equity Services LLC now owns 4,340 shares of the company’s stock worth $1,787,000 after buying an additional 32 shares in the last quarter. Lindenwold Advisors INC lifted its holdings in Medpace by 1.6% in the third quarter. Lindenwold Advisors INC now owns 2,026 shares of the company’s stock worth $676,000 after buying an additional 32 shares during the period. Finally, Nations Financial Group Inc. IA ADV grew its holdings in shares of Medpace by 1.7% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 2,376 shares of the company’s stock worth $793,000 after acquiring an additional 39 shares during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Price Performance

MEDP stock opened at $337.75 on Friday. Medpace Holdings, Inc. has a 1 year low of $268.80 and a 1 year high of $459.77. The company has a market cap of $10.50 billion, a P/E ratio of 29.58, a price-to-earnings-growth ratio of 1.89 and a beta of 1.37. The stock’s fifty day moving average price is $340.14 and its 200-day moving average price is $373.33.

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 business had revenue of $533.32 million for the quarter, compared to analysts’ expectations of $540.99 million. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the firm posted $2.22 earnings per share. As a group, analysts expect that Medpace Holdings, Inc. will post 11.93 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MEDP shares. William Blair restated an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. UBS Group cut shares of Medpace from a “buy” rating to a “neutral” rating and lowered their price target for the company from $420.00 to $350.00 in a research report on Friday, September 27th. Robert W. Baird downgraded Medpace from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $413.00 to $349.00 in a research note on Wednesday, October 23rd. Redburn Atlantic assumed coverage on Medpace in a report on Monday, October 14th. They set a “buy” rating and a $404.00 price target for the company. Finally, StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $380.00.

Medpace Company 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.