Seaport Global Advisors LLC Makes New Investment in Medpace Holdings, Inc. (NASDAQ:MEDP)

Seaport Global Advisors LLC bought a new position in shares of 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 bought 1,421 shares of the company’s stock, valued at approximately $585,000. Medpace makes up 2.1% of Seaport Global Advisors LLC’s holdings, making the stock its 21st largest position.

Other hedge funds have also modified their holdings of the company. Rise Advisors LLC purchased a new stake in Medpace during the first quarter worth about $27,000. Mather Group LLC. purchased a new position in Medpace in the first quarter valued at about $28,000. Fidelis Capital Partners LLC acquired a new stake in shares of Medpace during the 1st quarter valued at approximately $31,000. DT Investment Partners LLC purchased a new stake in shares of Medpace during the 2nd quarter worth approximately $41,000. Finally, J.Safra Asset Management Corp grew its holdings in shares of Medpace by 87.0% in the 1st quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock worth $41,000 after acquiring an additional 47 shares during the period. 77.98% of the stock is owned by institutional investors and hedge funds.

Medpace Price Performance

NASDAQ:MEDP opened at $331.44 on Monday. The firm has a market cap of $10.27 billion, a PE ratio of 33.79, a P/E/G ratio of 1.88 and a beta of 1.35. The firm has a 50 day simple moving average of $368.39 and a 200-day simple moving average of $389.57. Medpace Holdings, Inc. has a 1-year low of $227.21 and a 1-year high of $459.77.

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

Analyst Ratings Changes

MEDP has been the subject of several research reports. Guggenheim reduced 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. StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday. Robert W. Baird lowered their price objective on shares of Medpace from $430.00 to $413.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. William Blair restated an “outperform” rating on shares of Medpace in a research report on Wednesday, September 11th. Finally, Truist Financial assumed coverage on shares of Medpace in a research report on Thursday, August 1st. They issued a “hold” rating and a $415.00 price target on the stock. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $395.00.

Medpace 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.