Baillie Gifford & Co. Purchases 9,478 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Baillie Gifford & Co. increased its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 175.6% during the third quarter, Holdings Channel reports. The firm owned 14,876 shares of the company’s stock after buying an additional 9,478 shares during the quarter. Baillie Gifford & Co.’s holdings in Medpace were worth $4,966,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of MEDP. GSA Capital Partners LLP acquired a new stake in shares of Medpace in the third quarter valued at approximately $276,000. Nations Financial Group Inc. IA ADV lifted its holdings in Medpace by 1.7% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 2,376 shares of the company’s stock valued at $793,000 after purchasing an additional 39 shares during the last quarter. Versor Investments LP increased its holdings in shares of Medpace by 26.6% in the third quarter. Versor Investments LP now owns 4,902 shares of the company’s stock valued at $1,636,000 after purchasing an additional 1,029 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Medpace in the third quarter valued at $37,000. Finally, Meritage Portfolio Management raised its position in shares of Medpace by 11.1% in the third quarter. Meritage Portfolio Management now owns 3,069 shares of the company’s stock valued at $1,024,000 after purchasing an additional 306 shares during the period. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Medpace Stock Performance

Shares of NASDAQ MEDP opened at $361.94 on Thursday. The stock has a market capitalization of $11.25 billion, a P/E ratio of 31.69, a PEG ratio of 2.00 and a beta of 1.37. The stock’s fifty day moving average is $341.97 and its 200 day moving average is $376.72. Medpace Holdings, Inc. has a 52 week low of $268.80 and a 52 week high of $459.77.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, October 21st. The company reported $3.01 EPS for the quarter, beating the consensus estimate of $2.77 by $0.24. The company had revenue of $533.32 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company earned $2.22 EPS. Equities research analysts forecast that Medpace Holdings, Inc. will post 11.93 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on MEDP. Guggenheim decreased their price target on shares of Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Truist Financial decreased their target price on Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft dropped their price target on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Jefferies Financial Group lowered Medpace from a “buy” rating to a “hold” rating and decreased their price objective for the company from $415.00 to $345.00 in a report on Wednesday, September 25th. Finally, Redburn Atlantic assumed coverage on Medpace in a report on Monday, October 14th. They set a “buy” rating and a $404.00 target price for the company. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average 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.