Thrivent Financial for Lutherans Purchases 5,484 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Thrivent Financial for Lutherans increased its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 61.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 14,430 shares of the company’s stock after buying an additional 5,484 shares during the period. Thrivent Financial for Lutherans’ holdings in Medpace were worth $4,817,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. O Shaughnessy Asset Management LLC purchased a new position in Medpace in the first quarter worth $307,000. EntryPoint Capital LLC purchased a new position in shares of Medpace in the 1st quarter worth about $54,000. Advisors Asset Management Inc. grew its position in Medpace by 106.4% during the first quarter. Advisors Asset Management Inc. now owns 2,735 shares of the company’s stock valued at $1,105,000 after buying an additional 1,410 shares during the period. Canada Pension Plan Investment Board increased its holdings in Medpace by 15.9% during the first quarter. Canada Pension Plan Investment Board now owns 67,800 shares of the company’s stock worth $27,401,000 after buying an additional 9,300 shares during the last quarter. Finally, 1832 Asset Management L.P. bought a new stake in Medpace in the first quarter worth about $6,911,000. 77.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MEDP has been the subject of several research analyst reports. TD Cowen decreased their price target on shares of Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Robert W. Baird downgraded Medpace from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $413.00 to $349.00 in a research report on Wednesday, October 23rd. StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Jefferies Financial Group lowered 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 report on Wednesday, September 25th. Finally, Redburn Atlantic assumed coverage on shares of Medpace in a report on Monday, October 14th. They set a “buy” rating and a $404.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $380.00.

Medpace Stock Down 1.2 %

Shares of MEDP opened at $337.75 on Friday. The business’s 50-day moving average price is $340.14 and its 200-day moving average price is $373.33. Medpace Holdings, Inc. has a twelve month low of $268.80 and a twelve month high of $459.77. The stock has a market cap of $10.50 billion, a PE ratio of 29.58, a P/E/G ratio of 1.89 and a beta of 1.37.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.24. The business had revenue of $533.32 million for the quarter, compared to analysts’ expectations of $540.99 million. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.22 EPS. Analysts expect 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.