Merit Financial Group LLC Invests $607,000 in Medpace Holdings, Inc. (NASDAQ:MEDP)

Merit Financial Group LLC acquired a new position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,827 shares of the company’s stock, valued at approximately $607,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Benjamin F. Edwards & Company Inc. grew its stake in shares of Medpace by 9.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 856 shares of the company’s stock worth $353,000 after acquiring an additional 75 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in Medpace by 44.2% during the second quarter. Thrivent Financial for Lutherans now owns 8,946 shares of the company’s stock worth $3,685,000 after purchasing an additional 2,741 shares during the last quarter. Evergreen Capital Management LLC bought a new position in Medpace in the second quarter valued at $216,000. Xponance Inc. increased its stake in Medpace by 1.6% in the 2nd quarter. Xponance Inc. now owns 4,976 shares of the company’s stock valued at $2,049,000 after buying an additional 76 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Medpace during the 2nd quarter worth about $25,713,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Redburn Atlantic initiated coverage on Medpace in a research note on Monday, October 14th. They issued a “buy” rating and a $404.00 price target for the company. TD Cowen dropped their price objective on Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Baird R W cut shares of Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, UBS Group downgraded shares of Medpace from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $420.00 to $350.00 in a report on Friday, September 27th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $380.56.

Medpace Stock Performance

NASDAQ MEDP opened at $345.18 on Thursday. The stock has a market cap of $10.73 billion, a PE ratio of 30.23, a P/E/G ratio of 1.73 and a beta of 1.36. The firm has a 50-day moving average of $339.73 and a 200-day moving average of $356.13. Medpace Holdings, Inc. has a 52-week low of $286.76 and a 52-week high of $459.77.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data 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. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The firm had revenue of $533.32 million during the quarter, compared to the consensus estimate of $540.99 million. During the same period last year, the business posted $2.22 earnings per share. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, analysts predict that Medpace Holdings, Inc. will post 11.93 EPS for the current fiscal year.

Medpace Company Profile

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.