HBW Advisory Services LLC Invests $239,000 in Medpace Holdings, Inc. (NASDAQ:MEDP)

HBW Advisory Services LLC purchased a new stake in Medpace Holdings, Inc. (NASDAQ:MEDP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 716 shares of the company’s stock, valued at approximately $239,000.

Other large investors have also recently bought and sold shares of the company. FORA Capital LLC acquired a new stake in shares of Medpace in the 1st quarter valued at $2,222,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Medpace in the first quarter valued at about $5,179,000. Norden Group LLC grew its stake in Medpace by 488.0% during the first quarter. Norden Group LLC now owns 29,480 shares of the company’s stock worth $11,914,000 after buying an additional 24,466 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of Medpace by 322.5% during the first quarter. QRG Capital Management Inc. now owns 10,553 shares of the company’s stock worth $4,265,000 after buying an additional 8,055 shares in the last quarter. Finally, M&G Plc acquired a new stake in shares of Medpace during the first quarter worth approximately $9,885,000. 77.98% of the stock is currently owned by institutional investors.

Medpace Stock Up 1.6 %

Shares of MEDP stock opened at $343.05 on Friday. The firm has a market cap of $10.63 billion, a price-to-earnings ratio of 34.97, a PEG ratio of 1.88 and a beta of 1.35. Medpace Holdings, Inc. has a 12 month low of $227.21 and a 12 month high of $459.77. The stock has a 50-day moving average price of $363.32 and a 200 day moving average price of $387.43.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, July 22nd. The company reported $2.75 EPS for the quarter, topping the consensus estimate of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The company had revenue of $528.10 million during the quarter, compared to analysts’ expectations of $528.41 million. During the same quarter in the previous year, the company earned $1.93 EPS. Medpace’s revenue was up 14.6% on a year-over-year basis. Sell-side analysts predict that Medpace Holdings, Inc. will post 11.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MEDP shares. StockNews.com lowered Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. TD Cowen decreased their target price on Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Truist Financial started coverage on Medpace in a report on Thursday, August 1st. They issued a “hold” rating and a $415.00 price target for the company. UBS Group downgraded shares of Medpace from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $420.00 to $350.00 in a research report on Friday, September 27th. Finally, William Blair restated an “outperform” rating on shares of Medpace in a research report on Wednesday, September 11th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $395.00.

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.