Medpace Holdings, Inc. (NASDAQ:MEDP) Stock Holdings Lowered by Townsquare Capital LLC

Townsquare Capital LLC trimmed its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 2.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,581 shares of the company’s stock after selling 280 shares during the period. Townsquare Capital LLC’s holdings in Medpace were worth $3,866,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Tidal Investments LLC increased its stake in Medpace by 16.2% in the 1st quarter. Tidal Investments LLC now owns 874 shares of the company’s stock worth $353,000 after purchasing an additional 122 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Medpace in the first quarter worth approximately $74,000. Cetera Investment Advisers raised its holdings in shares of Medpace by 235.0% during the first quarter. Cetera Investment Advisers now owns 11,494 shares of the company’s stock valued at $4,645,000 after acquiring an additional 8,063 shares during the period. 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 valued at $1,054,000 after acquiring an additional 1,614 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in Medpace by 3.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 36,030 shares of the company’s stock worth $14,459,000 after purchasing an additional 1,173 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. TD Cowen dropped their price target on Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. UBS Group lowered Medpace from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $420.00 to $350.00 in a research report on Friday, September 27th. Baird R W downgraded Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group cut shares of Medpace from a “buy” rating to a “hold” rating and decreased their price target for the stock from $415.00 to $345.00 in a report on Wednesday, September 25th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Medpace currently has a consensus rating of “Hold” and a consensus target price of $380.56.

Medpace Stock Performance

Shares of MEDP opened at $340.63 on Friday. The firm has a market cap of $10.59 billion, a PE ratio of 29.83, a PEG ratio of 1.88 and a beta of 1.37. The firm’s 50 day moving average price is $337.82 and its 200 day moving average price is $371.41. Medpace Holdings, Inc. has a twelve month low of $268.80 and a twelve month high of $459.77.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results 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 business had revenue of $533.32 million for the quarter, compared to the consensus estimate of $540.99 million. During the same quarter last year, the firm earned $2.22 EPS. Medpace’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, sell-side analysts anticipate that Medpace Holdings, Inc. will post 11.93 earnings per share for the current fiscal 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.