HBW Advisory Services LLC Purchases 40 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

HBW Advisory Services LLC grew its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 756 shares of the company’s stock after acquiring an additional 40 shares during the period. HBW Advisory Services LLC’s holdings in Medpace were worth $251,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wealth Alliance boosted its stake in Medpace by 2.9% in the second quarter. Wealth Alliance now owns 970 shares of the company’s stock worth $399,000 after purchasing an additional 27 shares in the last quarter. Centaurus Financial Inc. lifted its position in Medpace by 2.0% during the 3rd quarter. Centaurus Financial Inc. now owns 1,513 shares of the company’s stock worth $505,000 after buying an additional 29 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in Medpace by 0.7% during the 2nd 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 in the last quarter. Lindenwold Advisors INC grew its holdings in Medpace by 1.6% during the 3rd quarter. Lindenwold Advisors INC now owns 2,026 shares of the company’s stock worth $676,000 after acquiring an additional 32 shares during the last quarter. Finally, M&T Bank Corp increased its position in Medpace by 1.2% in the 3rd quarter. M&T Bank Corp now owns 3,199 shares of the company’s stock valued at $1,068,000 after acquiring an additional 37 shares in the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

Medpace Stock Performance

Shares of NASDAQ MEDP opened at $350.87 on Friday. The firm has a 50 day moving average price of $341.09 and a 200 day moving average price of $359.82. The stock has a market cap of $10.91 billion, a P/E ratio of 30.72, a P/E/G ratio of 1.91 and a beta of 1.36. Medpace Holdings, Inc. has a 52-week low of $277.72 and a 52-week high of $459.77.

Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Monday, October 21st. The company reported $3.01 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.24. The business had revenue of $533.32 million during the quarter, compared to analysts’ expectations of $540.99 million. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.22 EPS. Analysts predict that Medpace Holdings, Inc. will post 11.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MEDP. UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $420.00 to $350.00 in a research report on Friday, September 27th. Jefferies Financial Group lowered Medpace from a “buy” rating to a “hold” rating and decreased their price objective for the company from $415.00 to $345.00 in a research report on Wednesday, September 25th. StockNews.com downgraded Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Baird R W cut Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Truist Financial dropped their price objective on Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Medpace currently has an average rating of “Hold” and an average price target 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.