Ascent Group LLC Invests $2.68 Million in Medpace Holdings, Inc. (NASDAQ:MEDP)

Ascent Group LLC bought a new position in Medpace Holdings, Inc. (NASDAQ:MEDP) during the 3rd quarter, Holdings Channel.com reports. The fund bought 8,025 shares of the company’s stock, valued at approximately $2,679,000.

Several other hedge funds have also recently modified their holdings of MEDP. Renaissance Technologies LLC increased its position in Medpace by 38.3% in the second quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock worth $182,692,000 after purchasing an additional 122,800 shares during the last quarter. Clearbridge Investments LLC increased its position in Medpace by 55.1% in the second quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock worth $166,343,000 after purchasing an additional 143,481 shares during the last quarter. Westwind Capital increased its position in Medpace by 800.1% in the second quarter. Westwind Capital now owns 380,929 shares of the company’s stock worth $156,886,000 after purchasing an additional 338,610 shares during the last quarter. American Capital Management Inc. increased its position in Medpace by 2.6% in the third quarter. American Capital Management Inc. now owns 380,646 shares of the company’s stock worth $127,060,000 after purchasing an additional 9,592 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Medpace by 62.3% in the second quarter. AQR Capital Management LLC now owns 310,650 shares of the company’s stock worth $127,941,000 after purchasing an additional 119,257 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MEDP shares. 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 report on Wednesday, October 23rd. William Blair restated an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Jefferies Financial Group cut shares of Medpace from a “buy” rating to a “hold” rating and cut their price objective for the company from $415.00 to $345.00 in a research report on Wednesday, September 25th. Finally, Redburn Atlantic began coverage on shares of Medpace in a research report on Monday, October 14th. They set a “buy” rating and a $404.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $380.56.

Medpace Trading Up 0.5 %

Shares of MEDP opened at $342.36 on Tuesday. The firm has a market capitalization of $10.64 billion, a P/E ratio of 29.98, a P/E/G ratio of 1.88 and a beta of 1.37. Medpace Holdings, Inc. has a 12-month low of $273.14 and a 12-month high of $459.77. The firm has a fifty day moving average price of $337.43 and a 200-day moving average price of $370.62.

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