By otakuyassine3@gmail.com 
M&T Bank Corp increased its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP – Free Report) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,199 shares of the company’s stock after acquiring an additional 37 shares during the quarter. M&T Bank Corp’s holdings in Medpace were worth $1,068,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. DT Investment Partners LLC acquired a new position in Medpace in the 2nd quarter valued at about $41,000. Stone House Investment Management LLC purchased a new stake in shares of Medpace during the 3rd quarter valued at approximately $33,000. Ashton Thomas Securities LLC purchased a new stake in shares of Medpace during the 3rd quarter valued at approximately $37,000. Ashton Thomas Private Wealth LLC acquired a new position in Medpace in the second quarter valued at approximately $52,000. Finally, Capital Performance Advisors LLP purchased a new position in Medpace in the third quarter worth approximately $46,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.
Medpace Stock Down 0.4 %
Shares of MEDP stock opened at $345.93 on Monday. The firm has a 50 day moving average of $339.20 and a two-hundred day moving average of $367.80. The stock has a market capitalization of $10.75 billion, a PE ratio of 30.29, a P/E/G ratio of 1.89 and a beta of 1.37. Medpace Holdings, Inc. has a 52 week low of $277.72 and a 52 week high of $459.77.
Medpace (NASDAQ:MEDP – Get Free Report) last released its earnings results on Monday, October 21st. The company reported $3.01 EPS for the quarter, topping the consensus estimate of $2.77 by $0.24. The firm had revenue of $533.32 million during 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%. Medpace’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.22 EPS. Analysts expect that Medpace Holdings, Inc. will post 11.93 EPS for the current fiscal year.
Analysts Set New Price Targets
MEDP has been the topic of a number of research analyst reports. TD Cowen reduced their target price 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 reduced their price objective for the company from $415.00 to $345.00 in a report on Wednesday, September 25th. Robert W. Baird increased their target price on shares of Medpace from $349.00 to $354.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. UBS Group downgraded shares of Medpace from a “buy” rating to a “neutral” rating and reduced their price target for the company from $420.00 to $350.00 in a research note on Friday, September 27th. Finally, StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Seven investment analysts have rated the stock with a hold rating and five have given 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.
Check Out Our Latest Research Report on Medpace
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.
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