Everence Capital Management Inc. Invests $272,000 in Medpace Holdings, Inc. (NASDAQ:MEDP)

Everence Capital Management Inc. purchased a new stake in Medpace Holdings, Inc. (NASDAQ:MEDP) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 820 shares of the company’s stock, valued at approximately $272,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Stone House Investment Management LLC purchased a new stake in shares of Medpace in the 3rd quarter worth $33,000. Ashton Thomas Securities LLC purchased a new stake in Medpace in the third quarter worth about $37,000. Capital Performance Advisors LLP bought a new position in Medpace during the 3rd quarter worth about $46,000. Ashton Thomas Private Wealth LLC purchased a new position in Medpace during the 2nd quarter valued at about $52,000. Finally, True Wealth Design LLC raised its holdings in shares of Medpace by 16,800.0% in the 3rd quarter. True Wealth Design LLC now owns 169 shares of the company’s stock valued at $56,000 after purchasing an additional 168 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.

Medpace Trading Up 1.4 %

NASDAQ MEDP opened at $346.81 on Wednesday. Medpace Holdings, Inc. has a 12-month low of $277.72 and a 12-month high of $459.77. The company has a fifty day simple moving average of $338.59 and a two-hundred day simple moving average of $361.04. The stock has a market cap of $10.78 billion, a P/E ratio of 30.37, a P/E/G ratio of 1.91 and a beta of 1.36.

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

Wall Street Analysts Forecast Growth

MEDP has been the topic of several research reports. UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and cut their price objective for the company from $420.00 to $350.00 in a report on Friday, September 27th. Redburn Atlantic began coverage on Medpace in a research note on Monday, October 14th. They set a “buy” rating and a $404.00 price objective for the company. Jefferies Financial Group lowered Medpace from a “buy” rating to a “hold” rating and cut their target price for the company from $415.00 to $345.00 in a research note on Wednesday, September 25th. Robert W. Baird boosted their target price on shares of Medpace from $349.00 to $354.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Finally, Truist Financial lowered their price target on shares of Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $380.56.

About Medpace

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.