Smith Group Asset Management LLC Has $25.72 Million Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Smith Group Asset Management LLC raised its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 2.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 77,038 shares of the company’s stock after purchasing an additional 1,809 shares during the quarter. Medpace accounts for approximately 2.1% of Smith Group Asset Management LLC’s investment portfolio, making the stock its 18th biggest position. Smith Group Asset Management LLC owned about 0.25% of Medpace worth $25,715,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Fidelis Capital Partners LLC acquired a new stake in shares of Medpace during the 1st quarter valued at $31,000. J.Safra Asset Management Corp boosted 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 valued at $41,000 after acquiring an additional 47 shares in the last quarter. DT Investment Partners LLC acquired a new stake in shares of Medpace during the 2nd quarter valued at $41,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Medpace during the 2nd quarter valued at $52,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Medpace during the 1st quarter valued at $54,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MEDP shares. TD Cowen lowered their target price on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. 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 research report on Wednesday, October 23rd. Baird R W lowered Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. StockNews.com lowered Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Truist Financial lowered their target price on Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Medpace has an average rating of “Hold” and an average price target of $380.00.

Medpace Trading Down 0.3 %

MEDP stock opened at $329.35 on Tuesday. The stock has a 50-day moving average price of $350.20 and a 200-day moving average price of $380.49. Medpace Holdings, Inc. has a 1-year low of $239.00 and a 1-year high of $459.77. The firm has a market cap of $10.20 billion, a PE ratio of 33.57, a price-to-earnings-growth ratio of 1.74 and a beta of 1.35.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $540.99 million. During the same period last year, the company posted $2.22 EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. On average, analysts forecast that Medpace Holdings, Inc. will post 11.77 earnings per share for the current year.

Medpace Company 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.