Everence Capital Management Inc. Buys New Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Everence Capital Management Inc. purchased a new position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) during the 4th quarter, Holdings Channel.com reports. The fund purchased 820 shares of the company’s stock, valued at approximately $272,000.

Several other institutional investors and hedge funds have also modified their holdings of MEDP. Stone House Investment Management LLC purchased a new position in Medpace during the third quarter valued at approximately $33,000. Ashton Thomas Securities LLC acquired a new stake in shares of Medpace during the 3rd quarter worth approximately $37,000. Capital Performance Advisors LLP purchased a new position in shares of Medpace during the 3rd quarter valued at approximately $46,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Medpace in the 2nd quarter valued at $52,000. Finally, True Wealth Design LLC boosted its holdings in Medpace by 16,800.0% during the third quarter. True Wealth Design LLC now owns 169 shares of the company’s stock worth $56,000 after buying an additional 168 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Stock Performance

Shares of MEDP stock opened at $346.81 on Wednesday. Medpace Holdings, Inc. has a fifty-two week low of $277.72 and a fifty-two week high of $459.77. The stock’s fifty day moving average is $338.59 and its two-hundred day moving average is $361.04. The firm has a market capitalization of $10.78 billion, a P/E ratio of 30.37, a PEG ratio of 1.91 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, October 21st. The company reported $3.01 earnings per share 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 for the quarter, compared to the consensus estimate of $540.99 million. During the same period last year, the firm posted $2.22 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities analysts forecast that Medpace Holdings, Inc. will post 11.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Jefferies Financial Group downgraded shares of Medpace from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $415.00 to $345.00 in a research report on Wednesday, September 25th. TD Cowen reduced their price target on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. StockNews.com lowered Medpace from a “buy” rating to a “hold” rating in a report on Friday, September 27th. UBS Group downgraded 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 note on Friday, September 27th. Finally, Redburn Atlantic assumed 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. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Medpace currently has an average rating of “Hold” and an average target price of $380.56.

Medpace Company 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.