Kestra Investment Management LLC Buys Shares of 698 Medpace Holdings, Inc. (NASDAQ:MEDP)

Kestra Investment Management LLC purchased a new stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 698 shares of the company’s stock, valued at approximately $233,000.

A number of other institutional investors have also made changes to their positions in the stock. Stone House Investment Management LLC purchased a new position in shares of Medpace during the 3rd quarter worth approximately $33,000. Ashton Thomas Securities LLC purchased a new position in shares of Medpace during the third quarter worth $37,000. DT Investment Partners LLC acquired a new stake in shares of Medpace in the second quarter valued at $41,000. Capital Performance Advisors LLP purchased a new stake in shares of Medpace in the 3rd quarter valued at $46,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Medpace during the 2nd quarter worth about $52,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on MEDP shares. Truist Financial dropped their target price on Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research report on Monday, October 14th. Baird R W cut shares of Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. TD Cowen reduced their target price on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Jefferies Financial Group downgraded shares of Medpace from a “buy” rating to a “hold” rating and dropped their price target for the stock from $415.00 to $345.00 in a research note on Wednesday, September 25th. Finally, William Blair reaffirmed an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Medpace has a consensus rating of “Hold” and a consensus target price of $380.56.

Medpace Trading Up 0.5 %

Medpace stock opened at $342.36 on Tuesday. The company has a fifty day simple moving average of $337.43 and a 200-day simple moving average of $370.62. The stock has a market cap of $10.64 billion, a P/E ratio of 29.98, a price-to-earnings-growth ratio of 1.88 and a beta of 1.37. Medpace Holdings, Inc. has a 12-month low of $273.14 and a 12-month high of $459.77.

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