FORA Capital LLC Raises Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

FORA Capital LLC increased its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 164.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,594 shares of the company’s stock after acquiring an additional 4,103 shares during the quarter. FORA Capital LLC’s holdings in Medpace were worth $2,201,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MetLife Investment Management LLC boosted its position in Medpace by 5.0% during the third quarter. MetLife Investment Management LLC now owns 14,296 shares of the company’s stock worth $4,772,000 after purchasing an additional 684 shares during the period. CreativeOne Wealth LLC lifted its stake in shares of Medpace by 182.6% during the 3rd quarter. CreativeOne Wealth LLC now owns 4,446 shares of the company’s stock valued at $1,484,000 after buying an additional 2,873 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Medpace in the 3rd quarter worth approximately $1,763,000. Blueshift Asset Management LLC purchased a new position in Medpace in the 3rd quarter valued at approximately $776,000. Finally, Freedom Investment Management Inc. raised its holdings in Medpace by 7.3% during the 3rd quarter. Freedom Investment Management Inc. now owns 649 shares of the company’s stock valued at $217,000 after acquiring an additional 44 shares during the period. 77.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MEDP shares. Robert W. Baird lifted their price target on Medpace from $349.00 to $354.00 and gave the company a “neutral” rating in a research report on Monday. Baird R W lowered Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. TD Cowen decreased 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. Jefferies Financial Group lowered shares of Medpace from a “buy” rating to a “hold” rating and cut their price objective for the company from $415.00 to $345.00 in a research report on Wednesday, September 25th. Finally, StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $380.56.

Medpace Price Performance

MEDP stock opened at $338.96 on Thursday. The firm has a 50 day simple moving average of $338.93 and a two-hundred day simple moving average of $371.98. The stock has a market cap of $10.53 billion, a PE ratio of 29.68, a P/E/G ratio of 1.87 and a beta of 1.37. Medpace Holdings, Inc. has a one year low of $268.80 and a one year high of $459.77.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, October 21st. The company reported $3.01 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.24. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The business had revenue of $533.32 million for the quarter, compared to analysts’ expectations of $540.99 million. During the same quarter in the prior year, the firm earned $2.22 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. On average, research analysts expect that Medpace Holdings, Inc. will post 11.93 EPS for the current fiscal year.

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.