Empirical Asset Management LLC Acquires New Shares in Medpace Holdings, Inc. (NASDAQ:MEDP)

Empirical Asset Management LLC bought a new position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,105 shares of the company’s stock, valued at approximately $1,032,000.

Several other institutional investors also recently modified their holdings of the stock. Stone House Investment Management LLC bought a new position in Medpace during the 3rd quarter worth approximately $33,000. Ashton Thomas Securities LLC acquired a new stake in Medpace in the third quarter worth $37,000. Capital Performance Advisors LLP bought a new position in shares of Medpace during the third quarter worth $46,000. True Wealth Design LLC grew its holdings in shares of Medpace by 16,800.0% in the 3rd quarter. True Wealth Design LLC now owns 169 shares of the company’s stock valued at $56,000 after buying an additional 168 shares during the period. Finally, UMB Bank n.a. increased its position in shares of Medpace by 191.4% in the 3rd quarter. UMB Bank n.a. now owns 271 shares of the company’s stock valued at $90,000 after buying an additional 178 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MEDP shares. TD Cowen reduced their target price on Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Redburn Atlantic started coverage on Medpace in a research report on Monday, October 14th. They issued a “buy” rating and a $404.00 price objective for the company. Baird R W downgraded shares of Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, UBS Group cut shares of 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. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $380.56.

Medpace Stock Performance

NASDAQ:MEDP opened at $337.35 on Friday. The company has a market cap of $10.48 billion, a P/E ratio of 29.54, a P/E/G ratio of 1.80 and a beta of 1.36. Medpace Holdings, Inc. has a 52-week low of $284.32 and a 52-week high of $459.77. The stock’s 50-day simple moving average is $340.52 and its 200 day simple moving average is $357.30.

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

About Medpace

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.