Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Bought by Cumberland Partners Ltd

Cumberland Partners Ltd lifted its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 45.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,500 shares of the company’s stock after purchasing an additional 1,100 shares during the quarter. Cumberland Partners Ltd’s holdings in Medpace were worth $1,168,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new position in Medpace during the third quarter worth approximately $37,000. J.Safra Asset Management Corp increased its holdings in shares of Medpace by 87.0% during the 1st quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock worth $41,000 after buying an additional 47 shares during the last quarter. DT Investment Partners LLC acquired a new position in Medpace in the second quarter valued at $41,000. Capital Performance Advisors LLP purchased a new stake in Medpace during the third quarter valued at about $46,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Medpace during the second quarter worth about $52,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Stock Performance

Shares of MEDP stock opened at $360.81 on Wednesday. Medpace Holdings, Inc. has a 1 year low of $268.80 and a 1 year high of $459.77. The business’s fifty day moving average is $341.75 and its 200-day moving average is $376.96. The stock has a market cap of $11.21 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, October 21st. The company reported $3.01 EPS 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 business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.22 EPS. Equities research analysts predict that Medpace Holdings, Inc. will post 11.93 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MEDP. TD Cowen decreased their target price on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. StockNews.com downgraded Medpace from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Robert W. Baird cut Medpace from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $413.00 to $349.00 in a research note on Wednesday, October 23rd. Finally, Baird R W lowered Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Medpace has an average rating of “Hold” and a consensus target price of $380.00.

About Medpace

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.