CWA Asset Management Group LLC Makes New Investment in Medpace Holdings, Inc. (NASDAQ:MEDP)

CWA Asset Management Group LLC acquired a new stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,913 shares of the company’s stock, valued at approximately $1,306,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 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. Clearbridge Investments LLC grew its stake in shares of Medpace by 302.4% during the 1st quarter. Clearbridge Investments LLC now owns 260,411 shares of the company’s stock valued at $105,245,000 after acquiring an additional 195,698 shares during the period. Renaissance Technologies LLC grew its stake in shares of Medpace by 38.3% during 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. AQR Capital Management LLC increased its holdings in 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 in the last quarter. Finally, TD Asset Management Inc lifted its holdings in Medpace by 22.9% during the first quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock valued at $232,042,000 after purchasing an additional 107,108 shares in the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Medpace Trading Up 2.7 %

Shares of NASDAQ MEDP opened at $362.79 on Friday. The stock has a market capitalization of $11.28 billion, a price-to-earnings ratio of 31.77, a P/E/G ratio of 1.98 and a beta of 1.37. Medpace Holdings, Inc. has a 12-month low of $268.80 and a 12-month high of $459.77. The firm’s 50-day moving average price is $341.59 and its 200-day moving average price is $377.50.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.24. The business had revenue of $533.32 million during 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%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the company earned $2.22 EPS. On average, equities analysts predict that Medpace Holdings, Inc. will post 11.93 EPS for the current fiscal year.

Analyst Ratings Changes

MEDP has been the topic of several recent analyst reports. 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. UBS Group lowered Medpace from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $420.00 to $350.00 in a research note on Friday, September 27th. Robert W. Baird downgraded Medpace from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $413.00 to $349.00 in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their price target on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group cut shares of Medpace from a “buy” rating to a “hold” rating and reduced their price objective for the company from $415.00 to $345.00 in a research report on Wednesday, September 25th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $380.00.

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.