QRG Capital Management Inc. Has $3.93 Million Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

QRG Capital Management Inc. raised its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 3.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 11,772 shares of the company’s stock after buying an additional 360 shares during the quarter. QRG Capital Management Inc.’s holdings in Medpace were worth $3,929,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of MEDP. Signaturefd LLC raised its stake in Medpace by 4.9% in the second quarter. Signaturefd LLC now owns 559 shares of the company’s stock valued at $230,000 after buying an additional 26 shares during the period. Wealth Alliance raised its stake in Medpace by 2.9% in the 2nd quarter. Wealth Alliance now owns 970 shares of the company’s stock valued at $399,000 after acquiring an additional 27 shares during the period. Commonwealth Equity Services LLC lifted its holdings in Medpace by 0.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 4,340 shares of the company’s stock valued at $1,787,000 after purchasing an additional 32 shares during the last quarter. Journey Advisory Group LLC lifted its holdings in Medpace by 1.9% during the 2nd quarter. Journey Advisory Group LLC now owns 2,390 shares of the company’s stock valued at $984,000 after purchasing an additional 44 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in Medpace by 7.8% during the second quarter. Parkside Financial Bank & Trust now owns 633 shares of the company’s stock worth $261,000 after purchasing an additional 46 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Trading Up 9.1 %

MEDP stock opened at $358.27 on Thursday. The stock has a market capitalization of $11.14 billion, a P/E ratio of 31.37, a price-to-earnings-growth ratio of 1.76 and a beta of 1.37. The firm has a 50-day moving average price of $341.69 and a 200-day moving average price of $377.76. Medpace Holdings, Inc. has a 12 month low of $268.80 and a 12 month high of $459.77.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MEDP. Robert W. Baird cut shares of Medpace from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $413.00 to $349.00 in a research note on Wednesday, October 23rd. StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Jefferies Financial Group lowered 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 note on Wednesday, September 25th. Redburn Atlantic began coverage on Medpace in a research note on Monday, October 14th. They issued a “buy” rating and a $404.00 price target for the company. Finally, Guggenheim dropped their target price on Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $380.00.

Medpace Company 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.