Empirical Asset Management LLC Purchases New Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Empirical Asset Management LLC purchased a new stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,105 shares of the company’s stock, valued at approximately $1,032,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC bought a new position in shares of Medpace in the third quarter valued at about $33,000. Ashton Thomas Securities LLC acquired a new position in Medpace in the 3rd quarter valued at about $37,000. Capital Performance Advisors LLP bought a new position in Medpace in the 3rd quarter valued at about $46,000. True Wealth Design LLC lifted its position in Medpace by 16,800.0% during the third quarter. True Wealth Design LLC now owns 169 shares of the company’s stock worth $56,000 after acquiring an additional 168 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Medpace by 191.4% during the third quarter. UMB Bank n.a. now owns 271 shares of the company’s stock worth $90,000 after acquiring an additional 178 shares during the period. 77.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. TD Cowen dropped their price target on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Jefferies Financial Group cut shares of Medpace from a “buy” rating to a “hold” rating and reduced their target price for the company from $415.00 to $345.00 in a research report on Wednesday, September 25th. William Blair reaffirmed an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Finally, Baird R W cut shares of Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Medpace presently has a consensus rating of “Hold” and a consensus price target of $380.56.

Medpace Price Performance

Shares of NASDAQ:MEDP opened at $337.35 on Friday. The company’s 50 day simple moving average is $340.52 and its 200 day simple moving average is $357.30. The stock has a market capitalization of $10.48 billion, a price-to-earnings ratio of 29.54, a price-to-earnings-growth ratio of 1.80 and a beta of 1.36. Medpace Holdings, Inc. has a 1 year low of $284.32 and a 1 year high of $459.77.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $540.99 million. During the same period in the prior year, the company earned $2.22 EPS. Medpace’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, analysts anticipate that Medpace Holdings, Inc. will post 11.93 EPS for the current fiscal year.

Medpace 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.