Erste Asset Management GmbH Takes $4.02 Million Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Erste Asset Management GmbH bought a new position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 12,077 shares of the company's stock, valued at approximately $4,022,000.

Other hedge funds also recently modified their holdings of the company. Cetera Advisors LLC grew its stake in Medpace by 162.4% during the first quarter. Cetera Advisors LLC now owns 2,608 shares of the company's stock worth $1,054,000 after buying an additional 1,614 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Medpace by 175.6% during the 3rd quarter. Baillie Gifford & Co. now owns 14,876 shares of the company's stock worth $4,966,000 after acquiring an additional 9,478 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Medpace by 6.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 45,473 shares of the company's stock worth $15,179,000 after acquiring an additional 2,675 shares in the last quarter. CWA Asset Management Group LLC bought a new position in Medpace in the third quarter valued at approximately $1,306,000. Finally, US Bancorp DE raised its position in Medpace by 59.3% during the third quarter. US Bancorp DE now owns 8,100 shares of the company's stock valued at $2,704,000 after purchasing an additional 3,016 shares in the last quarter. Institutional investors own 77.98% of the company's stock.

Medpace Price Performance

Shares of Medpace stock traded down $3.09 during midday trading on Tuesday, reaching $339.27. The company had a trading volume of 190,907 shares, compared to its average volume of 283,621. The stock has a fifty day moving average price of $337.10 and a 200 day moving average price of $370.24. Medpace Holdings, Inc. has a fifty-two week low of $273.14 and a fifty-two week high of $459.77. The firm has a market cap of $10.54 billion, a PE ratio of 29.71, a P/E/G ratio of 1.89 and a beta of 1.37.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MEDP. William Blair reaffirmed an "outperform" rating on shares of Medpace in a report on Tuesday, October 22nd. Truist Financial decreased their target price on Medpace from $415.00 to $397.00 and set a "hold" rating on the stock in a research report on Monday, October 14th. Baird R W cut shares of Medpace from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 23rd. TD Cowen decreased their price target on shares of Medpace from $413.00 to $372.00 and set a "buy" rating on the stock in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group downgraded shares of Medpace from a "buy" rating to a "hold" rating and dropped their price objective for the company from $415.00 to $345.00 in a research note on Wednesday, September 25th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $380.56.

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.