Wilmington Savings Fund Society FSB Buys New Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Wilmington Savings Fund Society FSB purchased a new position in Medpace Holdings, Inc. (NASDAQ:MEDP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 525 shares of the company’s stock, valued at approximately $175,000.

Other hedge funds also recently bought and sold shares of the company. Baillie Gifford & Co. increased its holdings in shares of Medpace by 175.6% in the 3rd quarter. Baillie Gifford & Co. now owns 14,876 shares of the company’s stock worth $4,966,000 after buying an additional 9,478 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in Medpace by 6.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 45,473 shares of the company’s stock worth $15,179,000 after acquiring an additional 2,675 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in Medpace during the third quarter worth approximately $1,306,000. US Bancorp DE increased its stake in Medpace by 59.3% during the third quarter. US Bancorp DE now owns 8,100 shares of the company’s stock worth $2,704,000 after acquiring an additional 3,016 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Medpace during the third quarter valued at approximately $3,098,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Stock Performance

Shares of NASDAQ MEDP opened at $331.00 on Thursday. The stock has a 50 day moving average price of $339.54 and a 200 day moving average price of $366.89. The firm has a market capitalization of $10.29 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 1.89 and a beta of 1.37. Medpace Holdings, Inc. has a 52-week low of $277.72 and a 52-week high of $459.77.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.24. The business had revenue of $533.32 million for the quarter, compared to the consensus estimate of $540.99 million. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.22 EPS. Analysts forecast that Medpace Holdings, Inc. will post 11.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MEDP shares. Redburn Atlantic started coverage on Medpace in a research report on Monday, October 14th. They set a “buy” rating and a $404.00 target price on the stock. Robert W. Baird lifted their price objective on shares of Medpace from $349.00 to $354.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Jefferies Financial Group downgraded shares of Medpace from a “buy” rating to a “hold” rating and reduced their target price for the company from $415.00 to $345.00 in a research note on Wednesday, September 25th. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Finally, William Blair reissued an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Medpace presently has an average rating of “Hold” and an average target price of $380.56.

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.