Harbor Capital Advisors Inc. Purchases New Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Harbor Capital Advisors Inc. purchased a new stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,500 shares of the company’s stock, valued at approximately $835,000.

Other large investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in Medpace during the first quarter valued at approximately $5,179,000. QRG Capital Management Inc. boosted its position in Medpace by 322.5% during the first quarter. QRG Capital Management Inc. now owns 10,553 shares of the company’s stock valued at $4,265,000 after purchasing an additional 8,055 shares during the last quarter. M&G Plc acquired a new position in Medpace during the first quarter valued at approximately $9,885,000. Cetera Advisors LLC boosted its position in Medpace by 162.4% during the first quarter. Cetera Advisors LLC now owns 2,608 shares of the company’s stock valued at $1,054,000 after purchasing an additional 1,614 shares during the last quarter. Finally, Natixis acquired a new stake in shares of Medpace in the first quarter valued at approximately $727,000. 77.98% of the stock is owned by institutional investors and hedge funds.

Medpace Price Performance

Medpace stock opened at $358.27 on Thursday. The stock’s fifty day moving average price is $341.69 and its two-hundred day moving average price is $377.76. Medpace Holdings, Inc. has a one year low of $268.80 and a one year high of $459.77. The firm has a market cap of $11.14 billion, a PE ratio of 31.37, a price-to-earnings-growth ratio of 1.76 and a beta of 1.37.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MEDP shares. Robert W. Baird cut Medpace from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $413.00 to $349.00 in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft cut their price objective on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. UBS Group cut Medpace from a “buy” rating to a “neutral” rating and cut their price objective for the company from $420.00 to $350.00 in a research report on Friday, September 27th. William Blair reissued an “outperform” rating on shares of Medpace in a report on Tuesday, October 22nd. Finally, Baird R W cut Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. 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 data from MarketBeat, Medpace has an average 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.