MetLife Investment Management LLC Raises Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

MetLife Investment Management LLC increased its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 5.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,296 shares of the company’s stock after purchasing an additional 684 shares during the period. MetLife Investment Management LLC’s holdings in Medpace were worth $4,772,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Medpace in the third quarter valued at approximately $37,000. DT Investment Partners LLC acquired a new stake in Medpace in the second quarter valued at $41,000. Capital Performance Advisors LLP purchased a new stake in shares of Medpace during the 3rd quarter worth $46,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Medpace during the 2nd quarter worth $52,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Medpace in the 2nd quarter valued at about $61,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Price Performance

MEDP opened at $340.63 on Monday. Medpace Holdings, Inc. has a 12-month low of $268.80 and a 12-month high of $459.77. The stock has a market capitalization of $10.59 billion, a PE ratio of 29.83, a P/E/G ratio of 1.88 and a beta of 1.37. The firm’s fifty day moving average price is $337.82 and its 200 day moving average price is $370.98.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, October 21st. The company reported $3.01 earnings per share (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%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.22 EPS. On average, equities research analysts forecast that Medpace Holdings, Inc. will post 11.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on MEDP shares. Jefferies Financial Group downgraded shares of Medpace from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $415.00 to $345.00 in a report on Wednesday, September 25th. Baird R W cut Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. TD Cowen reduced their price objective on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Robert W. Baird boosted their target price on Medpace from $349.00 to $354.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Finally, Truist Financial dropped their price target 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $380.56.

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.