Spyglass Capital Management LLC Has $47.36 Million Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Spyglass Capital Management LLC boosted its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 29.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 141,882 shares of the company’s stock after buying an additional 32,466 shares during the quarter. Medpace makes up about 3.1% of Spyglass Capital Management LLC’s holdings, making the stock its 19th biggest position. Spyglass Capital Management LLC owned about 0.46% of Medpace worth $47,360,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cetera Advisors LLC lifted its position in shares of Medpace by 162.4% in the 1st quarter. Cetera Advisors LLC now owns 2,608 shares of the company’s stock worth $1,054,000 after acquiring an additional 1,614 shares during the period. Baillie Gifford & Co. lifted its position in Medpace by 175.6% in the third quarter. Baillie Gifford & Co. now owns 14,876 shares of the company’s stock worth $4,966,000 after purchasing an additional 9,478 shares during the period. CWA Asset Management Group LLC acquired a new stake in Medpace during the third quarter worth $1,306,000. Oppenheimer Asset Management Inc. raised its stake in shares of Medpace by 6.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 45,473 shares of the company’s stock valued at $15,179,000 after buying an additional 2,675 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Medpace by 59.3% during the 3rd quarter. US Bancorp DE now owns 8,100 shares of the company’s stock worth $2,704,000 after acquiring an additional 3,016 shares during the period. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MEDP shares. Baird R W downgraded Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Redburn Atlantic began coverage on Medpace in a research note on Monday, October 14th. They issued a “buy” rating and a $404.00 price target on the stock. TD Cowen cut their price objective on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Robert W. Baird boosted their target price on shares of Medpace from $349.00 to $354.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Truist Financial cut their price target on shares of Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $380.56.

Medpace Trading Up 1.1 %

NASDAQ:MEDP opened at $338.96 on Friday. Medpace Holdings, Inc. has a 1-year low of $268.80 and a 1-year high of $459.77. The business’s 50-day moving average price is $338.32 and its two-hundred day moving average price is $371.75. The firm has a market capitalization of $10.53 billion, a price-to-earnings ratio of 29.68, a PEG ratio of 1.88 and a beta of 1.37.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.24. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The firm had revenue of $533.32 million for the quarter, compared to analyst estimates of $540.99 million. During the same quarter in the prior year, the firm posted $2.22 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. Sell-side 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.