Amalgamated Bank Has $4.23 Million Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Amalgamated Bank raised its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 3.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,684 shares of the company’s stock after acquiring an additional 373 shares during the quarter. Amalgamated Bank’s holdings in Medpace were worth $4,234,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. QRG Capital Management Inc. boosted its holdings in Medpace by 322.5% in the first quarter. QRG Capital Management Inc. now owns 10,553 shares of the company’s stock valued at $4,265,000 after acquiring an additional 8,055 shares during the last quarter. M&G Plc bought a new position in shares of Medpace in the 1st quarter valued at about $9,885,000. Cetera Advisors LLC grew its position in shares of Medpace by 162.4% during the 1st quarter. Cetera Advisors LLC now owns 2,608 shares of the company’s stock worth $1,054,000 after buying an additional 1,614 shares during the period. Natixis bought a new stake in shares of Medpace during the first quarter worth approximately $727,000. Finally, Virtu Financial LLC acquired a new position in Medpace in the first quarter valued at approximately $1,239,000. 77.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on MEDP shares. Guggenheim dropped their target price on shares of Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. StockNews.com lowered Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Baird R W lowered Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. William Blair reiterated an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. Finally, UBS Group cut shares of Medpace from a “buy” rating to a “neutral” rating and decreased their price objective for the company 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $380.00.

Medpace Stock Up 2.7 %

Medpace stock opened at $362.79 on Friday. The company has a 50 day moving average of $341.59 and a 200-day moving average of $377.50. Medpace Holdings, Inc. has a twelve month low of $268.80 and a twelve month high of $459.77. The stock has a market capitalization of $11.28 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 1.98 and a beta of 1.37.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, topping 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 firm had revenue of $533.32 million during the quarter, compared to analyst estimates of $540.99 million. During the same period in the prior year, the business earned $2.22 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities analysts anticipate that Medpace Holdings, Inc. will post 11.93 EPS 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.