Claro Advisors LLC Invests $206,000 in Medpace Holdings, Inc. (NASDAQ:MEDP)

Claro Advisors LLC bought a new position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) during the fourth quarter, Holdings Channel.com reports. The fund bought 621 shares of the company’s stock, valued at approximately $206,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in Medpace by 31.6% in the second quarter. American Century Companies Inc. now owns 47,033 shares of the company’s stock valued at $19,371,000 after buying an additional 11,299 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Medpace by 4.1% during the 2nd quarter. Federated Hermes Inc. now owns 19,736 shares of the company’s stock worth $8,128,000 after acquiring an additional 771 shares in the last quarter. Quantbot Technologies LP lifted its stake in Medpace by 189.9% during the second quarter. Quantbot Technologies LP now owns 6,712 shares of the company’s stock worth $2,764,000 after purchasing an additional 4,397 shares during the last quarter. Edgestream Partners L.P. acquired a new position in Medpace in the second quarter valued at approximately $5,383,000. Finally, Wealth Alliance increased its stake in Medpace by 2.9% in the second quarter. Wealth Alliance now owns 970 shares of the company’s stock valued at $399,000 after purchasing an additional 27 shares during the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on MEDP shares. StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. William Blair restated an “outperform” rating on shares of Medpace in a research note on Tuesday, October 22nd. UBS Group downgraded Medpace from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $420.00 to $350.00 in a research note on Friday, September 27th. Truist Financial reduced their price objective on Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research note on Monday, October 14th. Finally, Jefferies Financial Group lowered shares of Medpace from a “buy” rating to a “hold” rating and lowered their target price for the stock from $415.00 to $345.00 in a research report on Wednesday, September 25th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $380.56.

Medpace Stock Performance

Shares of Medpace stock opened at $335.23 on Thursday. Medpace Holdings, Inc. has a one year low of $277.72 and a one year high of $459.77. The company has a market cap of $10.42 billion, a P/E ratio of 29.35, a PEG ratio of 1.91 and a beta of 1.36. The firm has a fifty day moving average of $341.36 and a two-hundred day moving average of $358.26.

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

Medpace Profile

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.