Blue Trust Inc. Purchases 104 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Blue Trust Inc. grew its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 18.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 665 shares of the company’s stock after buying an additional 104 shares during the quarter. Blue Trust Inc.’s holdings in Medpace were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. FORA Capital LLC acquired a new position in Medpace during the 1st quarter worth about $2,222,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Medpace during the first quarter worth approximately $5,179,000. Norden Group LLC grew its stake in shares of Medpace by 488.0% during the first quarter. Norden Group LLC now owns 29,480 shares of the company’s stock valued at $11,914,000 after purchasing an additional 24,466 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of Medpace by 322.5% in the first quarter. QRG Capital Management Inc. now owns 10,553 shares of the company’s stock valued at $4,265,000 after purchasing an additional 8,055 shares in the last quarter. Finally, M&G Plc bought a new position in Medpace in the 1st quarter worth approximately $9,885,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MEDP. Guggenheim decreased their price objective on Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. William Blair reiterated an “outperform” rating on shares of Medpace in a research report on Tuesday. Truist Financial dropped their price objective on Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a report on Monday, October 14th. Robert W. Baird lowered shares of Medpace from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $413.00 to $349.00 in a research note on Wednesday. Finally, Jefferies Financial Group cut shares of Medpace from a “buy” rating to a “hold” rating and lowered their price target for the stock from $415.00 to $345.00 in a research report on Wednesday, September 25th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $380.00.

Medpace Stock Performance

Shares of NASDAQ MEDP opened at $330.22 on Friday. Medpace Holdings, Inc. has a 52-week low of $239.00 and a 52-week high of $459.77. The stock has a market cap of $10.24 billion, a P/E ratio of 28.92, a P/E/G ratio of 1.74 and a beta of 1.35. The firm has a 50 day moving average price of $351.45 and a 200 day moving average price of $381.28.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results 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 during 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%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.22 EPS. Analysts predict that Medpace Holdings, Inc. will post 11.77 earnings per share 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.