CWA Asset Management Group LLC Acquires New Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

CWA Asset Management Group LLC bought a new position in Medpace Holdings, Inc. (NASDAQ:MEDP) during the third quarter, HoldingsChannel.com reports. The fund bought 3,913 shares of the company’s stock, valued at approximately $1,306,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Equitable Trust Co. increased its stake in Medpace by 19.2% in the 3rd quarter. Equitable Trust Co. now owns 2,757 shares of the company’s stock worth $920,000 after buying an additional 444 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Medpace during the third quarter worth approximately $46,000. Lifestyle Asset Management Inc. raised its stake in shares of Medpace by 7.0% during the third quarter. Lifestyle Asset Management Inc. now owns 3,697 shares of the company’s stock valued at $1,234,000 after acquiring an additional 241 shares in the last quarter. Olympiad Research LP boosted its holdings in shares of Medpace by 53.6% in the third quarter. Olympiad Research LP now owns 894 shares of the company’s stock valued at $298,000 after purchasing an additional 312 shares during the period. Finally, Forte Capital LLC ADV grew its stake in Medpace by 2.5% in the third quarter. Forte Capital LLC ADV now owns 3,237 shares of the company’s stock worth $1,081,000 after purchasing an additional 78 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors.

Medpace Stock Up 2.7 %

MEDP stock opened at $362.79 on Friday. Medpace Holdings, Inc. has a 52 week low of $268.80 and a 52 week high of $459.77. The stock has a market capitalization of $11.28 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 1.98 and a beta of 1.37. The firm has a 50 day moving average of $341.59 and a 200 day moving average of $377.50.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data 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 firm had revenue of $533.32 million for the quarter, compared to analyst estimates of $540.99 million. During the same period in the previous year, the company earned $2.22 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts expect that Medpace Holdings, Inc. will post 11.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MEDP shares. Deutsche Bank Aktiengesellschaft lowered their target price on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. StockNews.com downgraded 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 lowered their price target for the stock from $415.00 to $345.00 in a research report on Wednesday, September 25th. Guggenheim reduced their price objective on shares of Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Robert W. Baird lowered 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 equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $380.00.

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.