Freedom Investment Management Inc. Grows Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Freedom Investment Management Inc. raised its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 7.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 649 shares of the company’s stock after acquiring an additional 44 shares during the period. Freedom Investment Management Inc.’s holdings in Medpace were worth $217,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Tidal Investments LLC boosted its holdings in Medpace by 16.2% during the first quarter. Tidal Investments LLC now owns 874 shares of the company’s stock worth $353,000 after purchasing an additional 122 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Medpace by 235.0% in the 1st quarter. Cetera Investment Advisers now owns 11,494 shares of the company’s stock worth $4,645,000 after buying an additional 8,063 shares during the last quarter. Cetera Advisors LLC grew its holdings in shares of Medpace by 162.4% in the first quarter. Cetera Advisors LLC now owns 2,608 shares of the company’s stock valued at $1,054,000 after acquiring an additional 1,614 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Medpace by 58.4% during the second quarter. GAMMA Investing LLC now owns 236 shares of the company’s stock valued at $97,000 after acquiring an additional 87 shares during the last quarter. Finally, CWM LLC lifted its holdings in Medpace by 38.8% during the second quarter. CWM LLC now owns 2,323 shares of the company’s stock worth $957,000 after acquiring an additional 649 shares during the period. 77.98% of the stock is owned by hedge funds and other institutional investors.

Medpace Price Performance

Medpace stock opened at $340.63 on Monday. Medpace Holdings, Inc. has a one year low of $268.80 and a one year high of $459.77. The firm has a market capitalization of $10.59 billion, a P/E ratio of 29.83, a PEG ratio of 1.88 and a beta of 1.37. The business has a fifty day moving average price of $337.82 and a 200-day moving average price of $370.98.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $540.99 million. During the same quarter in the previous year, the firm earned $2.22 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. Sell-side analysts expect that Medpace Holdings, Inc. will post 11.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Robert W. Baird raised their target price on Medpace from $349.00 to $354.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Baird R W downgraded shares of Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Jefferies Financial Group lowered shares of Medpace from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $415.00 to $345.00 in a research report on Wednesday, September 25th. Truist Financial reduced their target price on shares of Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research report on Monday, October 14th. Finally, UBS Group cut shares of Medpace from a “buy” rating to a “neutral” rating and lowered their price target 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 given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $380.56.

Medpace 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.