Cerity Partners LLC Has $20.66 Million Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Cerity Partners LLC lifted its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 18.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,890 shares of the company’s stock after acquiring an additional 9,741 shares during the quarter. Cerity Partners LLC’s holdings in Medpace were worth $20,659,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MEDP. Ashton Thomas Securities LLC bought a new position in Medpace in the third quarter valued at about $37,000. DT Investment Partners LLC bought a new position in Medpace in the 2nd quarter valued at approximately $41,000. Capital Performance Advisors LLP acquired a new stake in Medpace during the 3rd quarter worth approximately $46,000. Ashton Thomas Private Wealth LLC bought a new stake in Medpace during the 2nd quarter worth approximately $52,000. Finally, EntryPoint Capital LLC acquired a new position in Medpace in the 1st quarter valued at approximately $54,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Price Performance

NASDAQ MEDP opened at $337.75 on Monday. Medpace Holdings, Inc. has a one year low of $268.80 and a one year high of $459.77. The business has a 50 day simple moving average of $340.14 and a 200 day simple moving average of $373.03. The stock has a market capitalization of $10.50 billion, a P/E ratio of 29.58, a P/E/G ratio of 1.89 and a beta of 1.37.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on MEDP. UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and cut their price target for the stock from $420.00 to $350.00 in a report on Friday, September 27th. Redburn Atlantic started coverage on Medpace in a research report on Monday, October 14th. They issued a “buy” rating and a $404.00 price target on the stock. Truist Financial decreased their price target on Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research note on Monday, October 14th. Baird R W lowered Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group downgraded shares of Medpace from a “buy” rating to a “hold” rating and decreased their target price for the company from $415.00 to $345.00 in a research report on Wednesday, September 25th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Medpace currently has a consensus rating of “Hold” and an average price target of $380.00.

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.