Medpace Holdings, Inc. (NASDAQ:MEDP) Stock Position Reduced by Empowered Funds LLC

Empowered Funds LLC decreased its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 59.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,563 shares of the company’s stock after selling 9,493 shares during the quarter. Empowered Funds LLC’s holdings in Medpace were worth $2,191,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MEDP. Ashton Thomas Securities LLC acquired a new stake in shares of Medpace in the third quarter worth $37,000. DT Investment Partners LLC bought a new stake in shares of Medpace in the 2nd quarter worth approximately $41,000. Capital Performance Advisors LLP bought a new stake in shares of Medpace during the third quarter valued at approximately $46,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Medpace in the second quarter valued at $52,000. Finally, EntryPoint Capital LLC acquired a new stake in Medpace during the first quarter worth $54,000. 77.98% of the stock is owned by institutional investors and hedge funds.

Medpace Price Performance

Shares of MEDP opened at $326.09 on Thursday. The firm has a 50 day simple moving average of $340.65 and a two-hundred day simple moving average of $374.33. The company has a market cap of $10.13 billion, a P/E ratio of 28.55, a P/E/G ratio of 1.72 and a beta of 1.37. Medpace Holdings, Inc. has a one year low of $268.80 and a one year high of $459.77.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TD Cowen lowered their target price on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. UBS Group lowered Medpace from a “buy” rating to a “neutral” rating and decreased their price target for the company from $420.00 to $350.00 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 note on Wednesday, October 23rd. William Blair reaffirmed an “outperform” rating on shares of Medpace in a report on Tuesday, October 22nd. Finally, Truist Financial reduced their price target on shares of Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average 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.