Quantbot Technologies LP Buys 5,892 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Quantbot Technologies LP boosted its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 87.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,604 shares of the company’s stock after buying an additional 5,892 shares during the period. Quantbot Technologies LP’s holdings in Medpace were worth $4,207,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in Medpace during the third quarter worth about $37,000. DT Investment Partners LLC acquired a new stake in Medpace during the second quarter worth about $41,000. Capital Performance Advisors LLP acquired a new stake in Medpace during the third quarter worth about $46,000. Ashton Thomas Private Wealth LLC acquired a new stake in Medpace during the second quarter worth about $52,000. Finally, International Assets Investment Management LLC acquired a new stake in Medpace during the second quarter worth about $61,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Medpace Price Performance

Shares of NASDAQ MEDP opened at $335.21 on Wednesday. The company has a 50 day simple moving average of $339.37 and a 200 day simple moving average of $372.21. The firm has a market cap of $10.42 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 1.87 and a beta of 1.37. Medpace Holdings, Inc. has a 1 year low of $268.80 and a 1 year high of $459.77.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data 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 during 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 firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the business earned $2.22 EPS. As a group, research analysts anticipate that Medpace Holdings, Inc. will post 11.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Truist Financial reduced their price objective on shares of Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a research note on Monday, October 14th. William Blair restated an “outperform” rating on shares of Medpace in a research note on Tuesday, October 22nd. Baird R W downgraded shares of Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Robert W. Baird raised their price target on shares of Medpace from $349.00 to $354.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Jefferies Financial Group downgraded shares of Medpace from a “buy” rating to a “hold” rating and reduced their price target for the company from $415.00 to $345.00 in a research note on Wednesday, September 25th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Medpace currently 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.