Cerity Partners LLC Has $20.66 Million Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Cerity Partners LLC raised its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 18.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,890 shares of the company’s stock after purchasing an additional 9,741 shares during the quarter. Cerity Partners LLC owned 0.20% of Medpace worth $20,659,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in Medpace in the 3rd quarter valued at approximately $37,000. DT Investment Partners LLC acquired a new stake in shares of Medpace in the second quarter valued at approximately $41,000. Capital Performance Advisors LLP bought a new stake in shares of Medpace in the third quarter worth $46,000. Ashton Thomas Private Wealth LLC acquired a new position in Medpace during the second quarter worth $52,000. Finally, EntryPoint Capital LLC bought a new position in Medpace in the first quarter valued at $54,000. 77.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on MEDP. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Robert W. Baird cut Medpace from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $413.00 to $349.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group downgraded 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 report on Wednesday, September 25th. TD Cowen lowered their target price on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Redburn Atlantic assumed coverage on shares of Medpace in a research note on Monday, October 14th. They issued a “buy” rating and a $404.00 price target for the company. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Medpace currently has an average rating of “Hold” and a consensus target price of $380.00.

Medpace Price Performance

NASDAQ:MEDP opened at $337.75 on Monday. The company has a market cap of $10.50 billion, a P/E ratio of 29.58, a P/E/G ratio of 1.89 and a beta of 1.37. The firm’s fifty day moving average price is $340.14 and its two-hundred day moving average price is $373.03. Medpace Holdings, Inc. has a one year low of $268.80 and a one year high of $459.77.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, October 21st. The company reported $3.01 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.24. The business had revenue of $533.32 million for 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%. Medpace’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.22 EPS. As a group, equities research analysts expect that Medpace Holdings, Inc. will post 11.93 earnings per share for the current year.

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.