Blueshift Asset Management LLC Makes New $776,000 Investment in Medpace Holdings, Inc. (NASDAQ:MEDP)

Blueshift Asset Management LLC bought a new stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,326 shares of the company’s stock, valued at approximately $776,000.

Several other institutional investors also recently made changes to their positions in MEDP. Renaissance Technologies LLC grew its stake in Medpace by 38.3% during the 2nd 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 during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Medpace by 55.1% during the second 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 period. Westwind Capital grew its position in shares of Medpace by 800.1% during the second quarter. Westwind Capital now owns 380,929 shares of the company’s stock worth $156,886,000 after acquiring an additional 338,610 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Medpace by 62.3% in the 2nd quarter. AQR Capital Management LLC now owns 310,650 shares of the company’s stock worth $127,941,000 after acquiring an additional 119,257 shares during the period. Finally, FMR LLC lifted its position in Medpace by 11.8% in the 3rd quarter. FMR LLC now owns 231,019 shares of the company’s stock valued at $77,114,000 after purchasing an additional 24,362 shares during the last quarter. 77.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MEDP has been the subject of several recent analyst reports. TD Cowen decreased their target price on shares of Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. StockNews.com lowered Medpace from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Baird R W downgraded Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. UBS Group lowered Medpace from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $420.00 to $350.00 in a research report on Friday, September 27th. Finally, Jefferies Financial Group lowered Medpace from a “buy” rating to a “hold” rating and lowered their price target for the company from $415.00 to $345.00 in a report on Wednesday, September 25th. Seven 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 company currently has an average rating of “Hold” and an average price target of $380.56.

Medpace Stock Up 1.1 %

Shares of MEDP stock opened at $338.96 on Thursday. The stock has a 50-day simple moving average of $338.93 and a 200 day simple moving average of $371.98. Medpace Holdings, Inc. has a fifty-two week low of $268.80 and a fifty-two week high of $459.77. The stock has a market capitalization of $10.53 billion, a P/E ratio of 29.68, a P/E/G ratio of 1.87 and a beta of 1.37.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data 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. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The company had revenue of $533.32 million during the quarter, compared to analyst estimates of $540.99 million. During the same quarter last year, the firm posted $2.22 EPS. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, sell-side analysts anticipate that Medpace Holdings, Inc. will post 11.93 earnings per share for the current year.

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.