Forte Capital LLC ADV Has $1.08 Million Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Forte Capital LLC ADV boosted its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 2.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,237 shares of the company’s stock after purchasing an additional 78 shares during the quarter. Forte Capital LLC ADV’s holdings in Medpace were worth $1,081,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Medpace in the 1st quarter valued at $5,179,000. QRG Capital Management Inc. increased its holdings in shares of Medpace by 322.5% in the first quarter. QRG Capital Management Inc. now owns 10,553 shares of the company’s stock worth $4,265,000 after acquiring an additional 8,055 shares in the last quarter. M&G Plc acquired a new stake in shares of Medpace during the first quarter worth about $9,885,000. Cetera Advisors LLC lifted its holdings in shares of Medpace by 162.4% during the 1st quarter. Cetera Advisors LLC now owns 2,608 shares of the company’s stock valued at $1,054,000 after purchasing an additional 1,614 shares in the last quarter. Finally, Natixis bought a new position in shares of Medpace during the 1st quarter valued at about $727,000. Institutional investors own 77.98% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. UBS Group cut Medpace from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $420.00 to $350.00 in a research note on Friday, September 27th. Robert W. Baird lowered shares of Medpace from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $413.00 to $349.00 in a report on Wednesday, October 23rd. TD Cowen cut their price objective on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Truist Financial lowered their target price on Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a report on Monday, October 14th. Finally, Guggenheim cut their price target on Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $380.00.

Medpace Stock Performance

Shares of NASDAQ MEDP opened at $358.27 on Thursday. The stock has a market capitalization of $11.14 billion, a PE ratio of 31.37, a price-to-earnings-growth ratio of 1.76 and a beta of 1.37. Medpace Holdings, Inc. has a 52 week low of $268.80 and a 52 week high of $459.77. The stock has a 50 day moving average price of $341.69 and a 200 day moving average price of $377.76.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.24. The business had revenue of $533.32 million for 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 firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.22 earnings per share. As a group, research analysts forecast that Medpace Holdings, Inc. will post 11.93 EPS for the current year.

Medpace 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.