Sunbelt Securities Inc. Raises Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Sunbelt Securities Inc. lifted its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 34.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 727 shares of the company’s stock after acquiring an additional 188 shares during the period. Sunbelt Securities Inc.’s holdings in Medpace were worth $243,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State Street Corp grew its position in Medpace by 7.2% during the 3rd quarter. State Street Corp now owns 752,957 shares of the company’s stock worth $251,337,000 after purchasing an additional 50,312 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Medpace by 7.6% during the third quarter. Geode Capital Management LLC now owns 628,054 shares of the company’s stock worth $209,885,000 after buying an additional 44,371 shares during the last quarter. Renaissance Technologies LLC increased its position in Medpace by 38.3% in the 2nd quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock valued at $182,692,000 after acquiring an additional 122,800 shares during the period. Wellington Management Group LLP increased its position in Medpace by 36.0% in the 3rd quarter. Wellington Management Group LLP now owns 415,255 shares of the company’s stock valued at $138,612,000 after acquiring an additional 109,886 shares during the period. Finally, Clearbridge Investments LLC raised its stake in Medpace by 55.1% during the 2nd quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock valued at $166,343,000 after acquiring an additional 143,481 shares during the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

Medpace Price Performance

Shares of NASDAQ:MEDP opened at $345.93 on Friday. Medpace Holdings, Inc. has a 12 month low of $277.72 and a 12 month high of $459.77. The firm has a market capitalization of $10.75 billion, a price-to-earnings ratio of 30.29, a price-to-earnings-growth ratio of 1.89 and a beta of 1.37. The business’s 50 day simple moving average is $339.14 and its 200-day simple moving average is $368.27.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.24. The company had revenue of $533.32 million for the quarter, compared to analyst estimates of $540.99 million. Medpace had a return on equity of 50.87% and a net margin of 17.66%. Medpace’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.22 earnings per share. On average, equities analysts anticipate that Medpace Holdings, Inc. will post 11.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. TD Cowen dropped their target price on Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Truist Financial cut their price objective 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. Jefferies Financial Group downgraded shares of Medpace from a “buy” rating to a “hold” rating and lowered their target price for the company from $415.00 to $345.00 in a report on Wednesday, September 25th. Baird R W lowered shares of Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, William Blair restated an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $380.56.

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.