Janney Montgomery Scott LLC Acquires 348 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Janney Montgomery Scott LLC lifted its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 4.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,268 shares of the company’s stock after purchasing an additional 348 shares during the period. Janney Montgomery Scott LLC’s holdings in Medpace were worth $2,760,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. J.Safra Asset Management Corp raised its holdings in shares of Medpace by 87.0% during the first quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock valued at $41,000 after purchasing an additional 47 shares during the period. DT Investment Partners LLC bought a new stake in Medpace in the 2nd quarter valued at about $41,000. Ashton Thomas Private Wealth LLC acquired a new position in Medpace during the 2nd quarter worth approximately $52,000. EntryPoint Capital LLC bought a new position in Medpace in the first quarter worth approximately $54,000. Finally, International Assets Investment Management LLC acquired a new stake in Medpace in the second quarter valued at approximately $61,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Wall Street Analysts Forecast Growth

MEDP has been the topic of a number of research reports. Redburn Atlantic assumed coverage on Medpace in a research report on Monday, October 14th. They set a “buy” rating and a $404.00 target price on the stock. TD Cowen lowered their price objective on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Jefferies Financial Group lowered shares of Medpace from a “buy” rating to a “hold” rating and dropped their price objective for the company from $415.00 to $345.00 in a research note on Wednesday, September 25th. StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Robert W. Baird cut shares of Medpace from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $413.00 to $349.00 in a research report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $380.00.

Medpace Stock Performance

NASDAQ:MEDP opened at $363.58 on Tuesday. Medpace Holdings, Inc. has a 52 week low of $268.80 and a 52 week high of $459.77. The firm has a 50-day moving average price of $341.59 and a two-hundred day moving average price of $377.15. The firm has a market cap of $11.30 billion, a price-to-earnings ratio of 31.70, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37.

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