Raymond James Trust N.A. Boosts Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Raymond James Trust N.A. raised its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 34.6% during the 3rd quarter, Holdings Channel reports. The firm owned 754 shares of the company’s stock after acquiring an additional 194 shares during the quarter. Raymond James Trust N.A.’s holdings in Medpace were worth $252,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MEDP. Banco Santander S.A. grew its stake in Medpace by 51.6% in the 3rd quarter. Banco Santander S.A. now owns 1,959 shares of the company’s stock valued at $654,000 after acquiring an additional 667 shares during the last quarter. King Luther Capital Management Corp grew its position in shares of Medpace by 10.4% in the third quarter. King Luther Capital Management Corp now owns 17,216 shares of the company’s stock valued at $5,747,000 after purchasing an additional 1,619 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Medpace by 16.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 6,149 shares of the company’s stock worth $2,053,000 after purchasing an additional 854 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Medpace by 466.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,425 shares of the company’s stock worth $8,821,000 after purchasing an additional 21,764 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Medpace in the 3rd quarter valued at approximately $3,098,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Wall Street Analysts Forecast Growth

MEDP has been the subject of several recent research reports. William Blair reissued an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. Truist Financial cut their target price on shares of Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research note on Monday, October 14th. Jefferies Financial Group cut shares of Medpace from a “buy” rating to a “hold” rating and decreased their price target for the stock from $415.00 to $345.00 in a research note on Wednesday, September 25th. Baird R W downgraded shares of Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, UBS Group downgraded shares of Medpace from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $420.00 to $350.00 in a research note on Friday, September 27th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $380.56.

Medpace Stock Up 1.1 %

NASDAQ:MEDP opened at $338.96 on Thursday. The company has a market cap 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. The firm’s 50 day moving average is $338.93 and its two-hundred day moving average is $371.98. Medpace Holdings, Inc. has a fifty-two week low of $268.80 and a fifty-two week high of $459.77.

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