Financial Advocates Investment Management Makes New $423,000 Investment in Medpace Holdings, Inc. (NASDAQ:MEDP)

Financial Advocates Investment Management purchased a new position in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,273 shares of the company's stock, valued at approximately $423,000.

Several other institutional investors and hedge funds also recently modified their holdings of MEDP. Iron Triangle Partners LP bought a new position in shares of Medpace in the third quarter worth $64,371,000. Wellington Management Group LLP grew its stake in shares of Medpace by 36.0% in the third quarter. Wellington Management Group LLP now owns 415,255 shares of the company's stock worth $138,612,000 after purchasing an additional 109,886 shares in the last quarter. DF Dent & Co. Inc. grew its stake in shares of Medpace by 189.9% in the third quarter. DF Dent & Co. Inc. now owns 161,298 shares of the company's stock worth $53,841,000 after purchasing an additional 105,659 shares in the last quarter. Argent Capital Management LLC grew its stake in shares of Medpace by 431.5% in the third quarter. Argent Capital Management LLC now owns 91,732 shares of the company's stock worth $30,620,000 after purchasing an additional 74,473 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in Medpace during the third quarter valued at about $23,321,000. Institutional investors own 77.98% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on MEDP. Robert W. Baird raised their target price on Medpace from $354.00 to $362.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. TD Cowen decreased their target price on Medpace from $413.00 to $372.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd. William Blair reaffirmed an "outperform" rating on shares of Medpace in a research note on Tuesday, October 22nd. Finally, Baird R W downgraded Medpace from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Medpace presently has a consensus rating of "Hold" and a consensus target price of $381.44.

Medpace Price Performance

Medpace stock traded up $8.61 during mid-day trading on Wednesday, hitting $336.47. The company's stock had a trading volume of 529,842 shares, compared to its average volume of 264,594. The firm's 50 day moving average is $343.90 and its 200 day moving average is $348.96. The company has a market cap of $10.46 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 1.85 and a beta of 1.36. Medpace Holdings, Inc. has a 52-week low of $302.01 and a 52-week high of $459.77.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.71. Medpace had a return on equity of 50.87% and a net margin of 17.66%. As a group, analysts forecast that Medpace Holdings, Inc. will post 11.93 EPS for the current 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.