Hanlon Investment Management Inc. Acquires 47 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Hanlon Investment Management Inc. grew its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 2.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,383 shares of the company’s stock after acquiring an additional 47 shares during the quarter. Hanlon Investment Management Inc.’s holdings in Medpace were worth $981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Medpace by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock worth $783,626,000 after acquiring an additional 142,591 shares during the period. TD Asset Management Inc increased its stake in shares of Medpace by 22.9% during the 1st quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock worth $232,042,000 after purchasing an additional 107,108 shares during the last quarter. Epoch Investment Partners Inc. raised its holdings in shares of Medpace by 15.3% in the 1st quarter. Epoch Investment Partners Inc. now owns 406,446 shares of the company’s stock worth $164,265,000 after purchasing an additional 53,983 shares during the period. Bessemer Group Inc. lifted its stake in Medpace by 1.6% in the first quarter. Bessemer Group Inc. now owns 394,834 shares of the company’s stock valued at $159,572,000 after purchasing an additional 6,137 shares during the last quarter. Finally, Westwind Capital grew its holdings in Medpace by 800.1% during the second quarter. Westwind Capital now owns 380,929 shares of the company’s stock valued at $156,886,000 after purchasing an additional 338,610 shares during the period. 77.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MEDP has been the topic of several research reports. Truist Financial initiated coverage on Medpace in a research note on Thursday, August 1st. They issued a “hold” rating and a $415.00 target price on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. StockNews.com upgraded shares of Medpace from a “hold” rating to a “buy” rating in a research report on Thursday. TD Cowen dropped their price target on shares of Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, Robert W. Baird cut their price objective on shares of Medpace from $469.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $423.00.

Medpace Trading Down 3.4 %

Shares of Medpace stock opened at $335.74 on Friday. The company’s 50-day moving average price is $390.71 and its 200-day moving average price is $395.32. The company has a market cap of $10.40 billion, a price-to-earnings ratio of 34.22, a PEG ratio of 1.85 and a beta of 1.36. Medpace Holdings, Inc. has a 12-month low of $227.21 and a 12-month high of $459.77.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.21. The business had revenue of $528.10 million for the quarter, compared to analysts’ expectations of $528.41 million. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.93 EPS. On average, sell-side analysts predict that Medpace Holdings, Inc. will post 11.66 earnings per share for the current year.

About Medpace

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.