HighTower Advisors LLC Has $999,000 Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

HighTower Advisors LLC lowered its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 63.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,998 shares of the company’s stock after selling 5,243 shares during the quarter. HighTower Advisors LLC’s holdings in Medpace were worth $999,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MEDP. Clearbridge Investments LLC increased its holdings in shares of Medpace by 55.1% in the second quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock valued at $166,343,000 after purchasing an additional 143,481 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Medpace by 38.3% during the second quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock worth $182,692,000 after buying an additional 122,800 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Medpace by 62.3% during the 2nd quarter. AQR Capital Management LLC now owns 310,650 shares of the company’s stock worth $127,941,000 after buying an additional 119,257 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Medpace by 1,028.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 116,683 shares of the company’s stock valued at $48,056,000 after acquiring an additional 106,343 shares during the last quarter. Finally, Argent Capital Management LLC raised its position in shares of Medpace by 431.5% in the 3rd quarter. Argent Capital Management LLC now owns 91,732 shares of the company’s stock valued at $30,620,000 after acquiring an additional 74,473 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Stock Performance

MEDP opened at $348.48 on Wednesday. The firm has a market cap of $10.83 billion, a P/E ratio of 30.51, a price-to-earnings-growth ratio of 1.89 and a beta of 1.37. The business’s fifty day moving average is $339.75 and its 200-day moving average is $367.14. Medpace Holdings, Inc. has a 52-week low of $277.72 and a 52-week high of $459.77.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on MEDP. Baird R W downgraded shares of Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Truist Financial lowered their price objective on shares of Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research report on Monday, October 14th. TD Cowen reduced their target price on Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. UBS Group downgraded Medpace from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $420.00 to $350.00 in a report on Friday, September 27th. Finally, Robert W. Baird lifted their price objective on Medpace from $349.00 to $354.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Medpace presently has a consensus rating of “Hold” and an average price target of $380.56.

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.