Louisiana State Employees Retirement System Boosts Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Louisiana State Employees Retirement System lifted its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,000 shares of the company’s stock after acquiring an additional 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Medpace were worth $2,337,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Signaturefd LLC boosted its stake in shares of Medpace by 4.9% during the 2nd quarter. Signaturefd LLC now owns 559 shares of the company’s stock worth $230,000 after acquiring an additional 26 shares in the last quarter. Wealth Alliance boosted its stake 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 acquiring an additional 27 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Medpace by 0.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 4,340 shares of the company’s stock valued at $1,787,000 after buying an additional 32 shares in the last quarter. Journey Advisory Group LLC lifted its stake in Medpace by 1.9% in the 2nd 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 in the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in Medpace by 7.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 633 shares of the company’s stock valued at $261,000 after buying an additional 46 shares in the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MEDP shares. TD Cowen decreased their price target on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Jefferies Financial Group lowered shares of Medpace from a “buy” rating to a “hold” rating and decreased their price target for the company from $415.00 to $345.00 in a research note on Wednesday, September 25th. Redburn Atlantic started coverage on shares of Medpace in a research note on Monday, October 14th. They issued a “buy” rating and a $404.00 price target on the stock. William Blair reaffirmed an “outperform” rating on shares of Medpace in a research note on Tuesday, October 22nd. Finally, Baird R W lowered shares of Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Medpace currently has an average rating of “Hold” and an average price target of $380.00.

Medpace Price Performance

Shares of NASDAQ MEDP opened at $329.35 on Tuesday. The company has a 50 day simple moving average of $351.45 and a 200-day simple moving average of $381.00. The company has a market capitalization of $10.20 billion, a P/E ratio of 33.57, a P/E/G ratio of 1.74 and a beta of 1.35. Medpace Holdings, Inc. has a 1 year low of $239.00 and a 1 year high of $459.77.

Medpace (NASDAQ:MEDP) last announced its quarterly 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 business had revenue of $533.32 million during the quarter, compared to the consensus estimate of $540.99 million. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.22 EPS. As a group, research analysts expect that Medpace Holdings, Inc. will post 11.77 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.