Medpace Holdings, Inc. (NASDAQ:MEDP) Position Reduced by Park Avenue Securities LLC

Park Avenue Securities LLC reduced its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 13.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,941 shares of the company’s stock after selling 295 shares during the quarter. Park Avenue Securities LLC’s holdings in Medpace were worth $648,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Signaturefd LLC raised its position in shares of Medpace by 4.9% during the second quarter. Signaturefd LLC now owns 559 shares of the company’s stock worth $230,000 after purchasing an additional 26 shares during the period. Wealth Alliance lifted its position in shares of Medpace by 2.9% during the 2nd quarter. Wealth Alliance now owns 970 shares of the company’s stock worth $399,000 after purchasing an additional 27 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Medpace by 0.7% during the second quarter. Commonwealth Equity Services LLC now owns 4,340 shares of the company’s stock worth $1,787,000 after buying an additional 32 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Medpace by 5.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 781 shares of the company’s stock valued at $316,000 after purchasing an additional 39 shares during the last quarter. Finally, Journey Advisory Group LLC lifted its stake in shares of Medpace by 1.9% in the second quarter. Journey Advisory Group LLC now owns 2,390 shares of the company’s stock valued at $984,000 after buying an additional 44 shares during the period. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on MEDP shares. Robert W. Baird cut their target price on Medpace from $430.00 to $413.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. UBS Group cut Medpace from a “buy” rating to a “neutral” rating and dropped their price target for the company from $420.00 to $350.00 in a report on Friday, September 27th. Guggenheim lowered their price objective on shares of Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lowered their target price on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Finally, William Blair reiterated an “outperform” rating on shares of Medpace in a report on Wednesday, September 11th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $395.00.

Medpace Stock Up 1.0 %

Shares of Medpace stock opened at $344.71 on Friday. The business has a fifty day simple moving average of $360.65 and a 200 day simple moving average of $385.97. The stock has a market cap of $10.68 billion, a PE ratio of 35.14, a price-to-earnings-growth ratio of 1.88 and a beta of 1.35. Medpace Holdings, Inc. has a 12 month low of $227.21 and a 12 month high of $459.77.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.21. The company had revenue of $528.10 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company earned $1.93 EPS. Analysts expect that Medpace Holdings, Inc. will post 11.66 EPS for the current fiscal 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.