Algert Global LLC Has $10.43 Million Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Algert Global LLC trimmed its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 0.3% during the third quarter, HoldingsChannel.com reports. The fund owned 31,248 shares of the company’s stock after selling 93 shares during the quarter. Algert Global LLC’s holdings in Medpace were worth $10,431,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Medpace in the 3rd quarter valued at $37,000. DT Investment Partners LLC acquired a new stake in Medpace in the second quarter valued at about $41,000. Capital Performance Advisors LLP bought a new position in Medpace in the third quarter valued at about $46,000. Ashton Thomas Private Wealth LLC bought a new position in Medpace in the second quarter valued at about $52,000. Finally, EntryPoint Capital LLC acquired a new position in Medpace during the first quarter worth about $54,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Medpace Trading Down 1.2 %

Shares of MEDP stock opened at $337.75 on Friday. Medpace Holdings, Inc. has a 1-year low of $268.80 and a 1-year high of $459.77. The stock has a market cap of $10.50 billion, a price-to-earnings ratio of 29.58, a PEG ratio of 1.89 and a beta of 1.37. The stock has a 50-day moving average of $340.14 and a 200-day moving average of $373.33.

Medpace (NASDAQ:MEDP) last released 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. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The business had revenue of $533.32 million during the quarter, compared to the consensus estimate of $540.99 million. During the same quarter in the prior year, the firm posted $2.22 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. Sell-side analysts forecast that Medpace Holdings, Inc. will post 11.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MEDP. TD Cowen reduced their price target on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. William Blair reiterated an “outperform” rating on shares of Medpace in a report on Tuesday, October 22nd. Baird R W downgraded Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird cut Medpace from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $413.00 to $349.00 in a report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average 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.