Assenagon Asset Management S.A. Grows Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Assenagon Asset Management S.A. increased its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,715 shares of the company's stock after purchasing an additional 793 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.07% of Medpace worth $7,214,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MEDP. Pallas Capital Advisors LLC increased its position in shares of Medpace by 179.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 3,270 shares of the company's stock worth $1,086,000 after purchasing an additional 2,101 shares in the last quarter. Baillie Gifford & Co. grew its stake in 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 buying an additional 9,478 shares during the last quarter. Barclays PLC increased its position in Medpace by 71.9% during the third quarter. Barclays PLC now owns 19,781 shares of the company's stock worth $6,603,000 after buying an additional 8,275 shares during the period. Oppenheimer Asset Management Inc. increased its position in Medpace by 6.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 45,473 shares of the company's stock worth $15,179,000 after buying an additional 2,675 shares during the period. Finally, CWA Asset Management Group LLC purchased a new stake in Medpace in the third quarter valued at approximately $1,306,000. 77.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Baird R W cut shares of Medpace from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 23rd. William Blair restated an "outperform" rating on shares of Medpace in a research note on Tuesday, October 22nd. StockNews.com downgraded shares of Medpace from a "buy" rating to a "hold" rating in a research note on Friday, September 27th. Truist Financial lowered their price target on Medpace from $415.00 to $397.00 and set a "hold" rating on the stock in a report on Monday, October 14th. Finally, UBS Group downgraded Medpace from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $420.00 to $350.00 in a research note on Friday, September 27th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Medpace has an average rating of "Hold" and a consensus price target of $380.56.

Medpace Stock Performance

NASDAQ:MEDP traded up $0.53 during mid-day trading on Monday, hitting $337.35. 198,258 shares of the company's stock traded hands, compared to its average volume of 204,775. Medpace Holdings, Inc. has a 1 year low of $284.32 and a 1 year high of $459.77. The company has a market cap of $10.48 billion, a PE ratio of 29.54, a price-to-earnings-growth ratio of 1.80 and a beta of 1.36. The firm's 50 day simple moving average is $340.52 and its 200 day simple moving average is $356.98.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its earnings results on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $540.99 million. During the same quarter in the previous year, the company posted $2.22 EPS. The firm's revenue for the quarter was up 8.3% on a year-over-year basis. On average, research analysts expect that Medpace Holdings, Inc. will post 11.93 earnings per share for the current fiscal year.

Medpace Profile

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.