Cetera Investment Advisers Acquires 263 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Cetera Investment Advisers grew its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,757 shares of the company’s stock after buying an additional 263 shares during the quarter. Cetera Investment Advisers’ holdings in Medpace were worth $4,842,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. KBC Group NV bought a new position in Medpace during the 4th quarter worth approximately $155,000. Sei Investments Co. boosted its stake in shares of Medpace by 9.7% during the fourth quarter. Sei Investments Co. now owns 120,345 shares of the company’s stock valued at $36,890,000 after purchasing an additional 10,618 shares during the period. Strategic Global Advisors LLC purchased a new stake in shares of Medpace during the fourth quarter valued at approximately $1,094,000. Icon Wealth Advisors LLC bought a new position in shares of Medpace in the fourth quarter worth approximately $420,000. Finally, Argent Capital Management LLC increased its stake in shares of Medpace by 1.5% in the fourth quarter. Argent Capital Management LLC now owns 15,497 shares of the company’s stock worth $4,750,000 after buying an additional 236 shares during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Stock Up 1.7 %

Shares of MEDP stock opened at $338.16 on Wednesday. The business’s fifty day moving average is $362.27 and its 200 day moving average is $386.78. The stock has a market cap of $10.48 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 1.88 and a beta of 1.35. Medpace Holdings, Inc. has a twelve month low of $227.21 and a twelve month high of $459.77.

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

Wall Street Analyst Weigh In

MEDP has been the subject of several analyst reports. TD Cowen dropped their price target on shares of Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Truist Financial started coverage on Medpace in a research note on Thursday, August 1st. They issued a “hold” rating and a $415.00 target price on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. William Blair reiterated an “outperform” rating on shares of Medpace in a research report on Wednesday, September 11th. Finally, Jefferies Financial Group cut 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 note on Wednesday, September 25th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $395.00.

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.