Equitable Trust Co. Increases Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Equitable Trust Co. lifted its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 19.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,757 shares of the company’s stock after purchasing an additional 444 shares during the period. Equitable Trust Co.’s holdings in Medpace were worth $920,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. TD Asset Management Inc lifted its holdings in shares of Medpace by 22.9% in the first quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock worth $232,042,000 after buying an additional 107,108 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Medpace by 38.3% in the second quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock worth $182,692,000 after buying an additional 122,800 shares in the last quarter. Epoch Investment Partners Inc. lifted its holdings in shares of Medpace by 15.3% in the first quarter. Epoch Investment Partners Inc. now owns 406,446 shares of the company’s stock worth $164,265,000 after buying an additional 53,983 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Medpace by 55.1% in the second quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock worth $166,343,000 after buying an additional 143,481 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of Medpace by 1.6% in the first quarter. Bessemer Group Inc. now owns 394,834 shares of the company’s stock worth $159,572,000 after buying an additional 6,137 shares in the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Medpace Price Performance

Shares of NASDAQ MEDP opened at $362.79 on Friday. Medpace Holdings, Inc. has a one year low of $268.80 and a one year high of $459.77. The firm’s 50 day simple moving average is $341.59 and its two-hundred day simple moving average is $377.50. The stock has a market capitalization of $11.28 billion, a P/E ratio of 31.77, a PEG ratio of 1.98 and a beta of 1.37.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, October 21st. The company reported $3.01 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.24. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The business had revenue of $533.32 million for the quarter, compared to analysts’ expectations of $540.99 million. During the same period last year, the business earned $2.22 earnings per share. The business’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, equities analysts expect that Medpace Holdings, Inc. will post 11.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MEDP. Baird R W downgraded shares of Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Guggenheim decreased their price objective on shares of Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Jefferies Financial Group cut 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 research report on Wednesday, September 25th. Finally, TD Cowen decreased their price objective on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Medpace presently has a consensus 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.