Advisors Asset Management Inc. Has $2.05 Million Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Advisors Asset Management Inc. boosted its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 16.1% during the third quarter, HoldingsChannel.com reports. The fund owned 6,149 shares of the company’s stock after purchasing an additional 854 shares during the period. Advisors Asset Management Inc.’s holdings in Medpace were worth $2,053,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in MEDP. Ashton Thomas Securities LLC bought a new position in shares of Medpace during the 3rd quarter worth approximately $37,000. DT Investment Partners LLC acquired a new position in Medpace during the second quarter worth $41,000. Capital Performance Advisors LLP bought a new position in shares of Medpace during the third quarter valued at $46,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Medpace in the 2nd quarter valued at $52,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Medpace in the 1st quarter worth about $54,000. 77.98% of the stock is owned by institutional investors and hedge funds.

Medpace Stock Down 1.2 %

Shares of MEDP opened at $337.75 on Monday. The stock’s fifty day simple moving average is $340.14 and its 200-day simple moving average is $373.03. The firm has a market capitalization of $10.50 billion, a PE ratio of 29.58, a price-to-earnings-growth ratio of 1.89 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.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, October 21st. The company reported $3.01 earnings per share (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 company had revenue of $533.32 million for the quarter, compared to the consensus estimate of $540.99 million. During the same period in the prior year, the company posted $2.22 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. Analysts anticipate that Medpace Holdings, Inc. will post 11.93 EPS for the current year.

Analyst Upgrades and Downgrades

MEDP has been the subject of several analyst reports. Redburn Atlantic began coverage on shares of Medpace in a report on Monday, October 14th. They set a “buy” rating and a $404.00 price target for the company. William Blair reiterated an “outperform” rating on shares of Medpace in a research note on Tuesday, October 22nd. Truist Financial decreased their price target on Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. Jefferies Financial Group lowered Medpace from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $415.00 to $345.00 in a research note on Wednesday, September 25th. Finally, TD Cowen lowered their target price on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Medpace presently has a consensus rating of “Hold” and an average target price of $380.00.

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.