Bank of Montreal Can Buys 1,755 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Bank of Montreal Can lifted its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 42.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,874 shares of the company’s stock after buying an additional 1,755 shares during the quarter. Bank of Montreal Can’s holdings in Medpace were worth $1,947,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in MEDP. Tidal Investments LLC boosted its position in shares of Medpace by 16.2% in 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 period. Cetera Investment Advisers lifted its holdings in 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 purchasing an additional 8,063 shares in the last quarter. Cetera Advisors LLC grew its holdings in Medpace by 162.4% during the 1st quarter. Cetera Advisors LLC now owns 2,608 shares of the company’s stock valued at $1,054,000 after buying an additional 1,614 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Medpace by 58.4% in the second quarter. GAMMA Investing LLC now owns 236 shares of the company’s stock worth $97,000 after buying an additional 87 shares in the last quarter. Finally, CWM LLC boosted its position in shares of 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 last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Medpace Price Performance

NASDAQ:MEDP opened at $342.30 on Friday. The firm has a market cap of $10.64 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 1.88 and a beta of 1.37. The company has a 50-day moving average of $337.93 and a 200 day moving average of $369.88. Medpace Holdings, Inc. has a 1-year low of $277.72 and a 1-year high of $459.77.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.24. The company had revenue of $533.32 million for the quarter, compared to analyst estimates of $540.99 million. Medpace had a net margin of 17.66% and a return on equity of 50.87%. Medpace’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company posted $2.22 earnings per share. Sell-side analysts anticipate that Medpace Holdings, Inc. will post 11.93 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on MEDP. William Blair reiterated an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. Truist Financial cut their target price on Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. TD Cowen dropped their price target on shares of Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $420.00 to $350.00 in a research report on Friday, September 27th. Finally, Jefferies Financial Group downgraded Medpace from a “buy” rating to a “hold” rating and decreased their target price for the stock from $415.00 to $345.00 in a research report on Wednesday, September 25th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Medpace has an average rating of “Hold” and an average price target of $380.56.

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.