Thoroughbred Financial Services LLC Purchases New Shares in Medpace Holdings, Inc. (NASDAQ:MEDP)

Thoroughbred Financial Services LLC purchased a new stake in Medpace Holdings, Inc. (NASDAQ:MEDP) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,322 shares of the company’s stock, valued at approximately $544,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. FORA Capital LLC purchased a new stake in Medpace in the 1st quarter valued at $2,222,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Medpace during the 1st quarter valued at $5,179,000. Eagle Asset Management Inc. increased its position in shares of Medpace by 155.0% during the 4th quarter. Eagle Asset Management Inc. now owns 226,435 shares of the company’s stock valued at $69,409,000 after purchasing an additional 137,632 shares during the last quarter. Evoke Wealth LLC purchased a new stake in shares of Medpace during the 4th quarter valued at $3,149,000. Finally, Norden Group LLC increased its position in shares of Medpace by 488.0% during the 1st 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. 77.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. TD Cowen decreased their target price on Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Robert W. Baird decreased their price objective on Medpace from $469.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Mizuho began coverage on Medpace in a report on Tuesday, May 28th. They issued a “buy” rating and a $435.00 price objective for the company. Guggenheim decreased their price objective on Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Medpace has an average rating of “Moderate Buy” and a consensus price target of $423.00.

Medpace Stock Up 1.4 %

Shares of NASDAQ MEDP opened at $356.69 on Tuesday. Medpace Holdings, Inc. has a 52 week low of $227.21 and a 52 week high of $459.77. The business has a 50-day simple moving average of $383.30 and a two-hundred day simple moving average of $393.01. The company has a market cap of $11.06 billion, a P/E ratio of 36.36, a P/E/G ratio of 1.74 and a beta of 1.35.

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

About Medpace

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.