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

FORA Capital LLC boosted its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 164.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,594 shares of the company’s stock after purchasing an additional 4,103 shares during the period. FORA Capital LLC’s holdings in Medpace were worth $2,201,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC lifted its stake in shares of Medpace by 4.9% in the 2nd quarter. Signaturefd LLC now owns 559 shares of the company’s stock valued at $230,000 after acquiring an additional 26 shares during the last quarter. Wealth Alliance lifted its position in Medpace by 2.9% in the second quarter. Wealth Alliance now owns 970 shares of the company’s stock valued at $399,000 after purchasing an additional 27 shares during the last quarter. Centaurus Financial Inc. boosted its stake in shares of Medpace by 2.0% during the third quarter. Centaurus Financial Inc. now owns 1,513 shares of the company’s stock valued at $505,000 after purchasing an additional 29 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of Medpace by 0.7% during the second quarter. Commonwealth Equity Services LLC now owns 4,340 shares of the company’s stock valued at $1,787,000 after purchasing an additional 32 shares during the period. Finally, Lindenwold Advisors INC grew its holdings in shares of Medpace by 1.6% in the third quarter. Lindenwold Advisors INC now owns 2,026 shares of the company’s stock worth $676,000 after purchasing an additional 32 shares during the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Medpace Stock Performance

Shares of NASDAQ:MEDP opened at $338.96 on Thursday. The firm has a market capitalization of $10.53 billion, a P/E ratio of 29.68, a P/E/G ratio of 1.87 and a beta of 1.37. The stock has a 50 day moving average price of $338.93 and a 200-day moving average price of $371.98. Medpace Holdings, Inc. has a 52-week low of $268.80 and a 52-week high of $459.77.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MEDP shares. Robert W. Baird upped their price target on shares of Medpace from $349.00 to $354.00 and gave the company a “neutral” rating in a report on Monday. Truist Financial dropped their target price on shares of Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a report on Monday, October 14th. William Blair restated an “outperform” rating on shares of Medpace in a report on Tuesday, October 22nd. Baird R W lowered Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group lowered Medpace from a “buy” rating to a “hold” rating and cut their price objective for the stock from $415.00 to $345.00 in a research report 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’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.