Benjamin Edwards Inc. Sells 29 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Benjamin Edwards Inc. decreased its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 7.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 344 shares of the company’s stock after selling 29 shares during the period. Benjamin Edwards Inc.’s holdings in Medpace were worth $142,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its holdings in shares of Medpace by 40.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,098 shares of the company’s stock valued at $2,175,000 after acquiring an additional 2,061 shares in the last quarter. Norges Bank bought a new position in Medpace in the fourth quarter valued at about $59,163,000. PNC Financial Services Group Inc. boosted its stake in shares of Medpace by 5.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,750 shares of the company’s stock valued at $2,682,000 after purchasing an additional 488 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of Medpace by 5.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 954 shares of the company’s stock worth $292,000 after purchasing an additional 45 shares during the last quarter. Finally, Quest Partners LLC bought a new position in Medpace in the 4th quarter valued at approximately $191,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MEDP. StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft decreased their price objective on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Guggenheim cut their target price on Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. TD Cowen decreased their price target on Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, William Blair reaffirmed an “outperform” rating on shares of Medpace in a research note on Wednesday, September 11th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $420.88.

Medpace Stock Performance

Shares of MEDP opened at $365.70 on Friday. The firm has a market cap of $11.33 billion, a PE ratio of 37.28, a price-to-earnings-growth ratio of 1.74 and a beta of 1.35. Medpace Holdings, Inc. has a 52-week low of $227.21 and a 52-week high of $459.77. The business’s 50 day moving average price is $378.15 and its two-hundred day moving average price is $391.95.

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

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.