Geode Capital Management LLC Boosts Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Geode Capital Management LLC grew its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 7.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 628,054 shares of the company's stock after purchasing an additional 44,371 shares during the quarter. Geode Capital Management LLC owned about 2.02% of Medpace worth $209,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Baillie Gifford & Co. grew its holdings in Medpace by 175.6% in the third quarter. Baillie Gifford & Co. now owns 14,876 shares of the company's stock worth $4,966,000 after purchasing 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 purchasing an additional 2,675 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Medpace in the 3rd quarter valued at about $1,306,000. US Bancorp DE increased its position in Medpace by 59.3% in the 3rd quarter. US Bancorp DE now owns 8,100 shares of the company's stock valued at $2,704,000 after buying an additional 3,016 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Medpace during the 3rd quarter worth approximately $3,098,000. Institutional investors own 77.98% of the company's stock.

Medpace Trading Up 1.1 %

Shares of MEDP traded up $3.81 during trading hours on Monday, reaching $349.74. 256,122 shares of the stock traded hands, compared to its average volume of 282,057. Medpace Holdings, Inc. has a 52 week low of $277.72 and a 52 week high of $459.77. The company has a market cap of $10.87 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 1.89 and a beta of 1.37. The stock has a fifty day simple moving average of $339.20 and a 200 day simple moving average of $367.66.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its quarterly earnings data on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.77 by $0.24. Medpace had a return on equity of 50.87% and a net margin of 17.66%. 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 prior year, the company earned $2.22 EPS. The business's revenue for the quarter was up 8.3% on a year-over-year basis. Analysts predict that Medpace Holdings, Inc. will post 11.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MEDP has been the subject of a number of research reports. Jefferies Financial Group cut 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 research note on Wednesday, September 25th. TD Cowen reduced their price target on shares of Medpace from $413.00 to $372.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. Truist Financial lowered their price objective on shares of Medpace from $415.00 to $397.00 and set a "hold" rating on the stock in a report on Monday, October 14th. StockNews.com lowered shares of Medpace from a "buy" rating to a "hold" rating in a research note on Friday, September 27th. Finally, Baird R W downgraded shares of Medpace from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Medpace currently has a consensus rating of "Hold" and a consensus target price of $380.56.

Medpace 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.