Spyglass Capital Management LLC Increases Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Spyglass Capital Management LLC lifted its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 29.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 141,882 shares of the company's stock after purchasing an additional 32,466 shares during the quarter. Medpace comprises approximately 3.1% of Spyglass Capital Management LLC's investment portfolio, making the stock its 19th biggest position. Spyglass Capital Management LLC owned 0.46% of Medpace worth $47,360,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stone House Investment Management LLC purchased a new position in Medpace during the third quarter worth about $33,000. Ashton Thomas Securities LLC acquired a new position in shares of Medpace in the 3rd quarter worth approximately $37,000. DT Investment Partners LLC purchased a new position in shares of Medpace during the 2nd quarter worth approximately $41,000. Capital Performance Advisors LLP acquired a new stake in Medpace in the 3rd quarter valued at approximately $46,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Medpace in the second quarter valued at approximately $52,000. 77.98% of the stock is owned by institutional investors and hedge funds.

Medpace Stock Up 0.5 %

Medpace stock traded up $1.67 during trading on Friday, reaching $340.63. The stock had a trading volume of 214,814 shares, compared to its average volume of 284,415. Medpace Holdings, Inc. has a 52-week low of $268.80 and a 52-week high of $459.77. The business has a 50 day moving average price of $337.82 and a 200 day moving average price of $371.41. The stock has a market cap of $10.59 billion, a PE ratio of 29.83, a P/E/G ratio of 1.88 and a beta of 1.37.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its earnings results on Monday, October 21st. The company reported $3.01 earnings per share 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%. The firm's revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.22 earnings per share. On average, equities analysts predict that Medpace Holdings, Inc. will post 11.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MEDP shares. Truist Financial lowered their price target on Medpace from $415.00 to $397.00 and set a "hold" rating for the company in a research report on Monday, October 14th. Jefferies Financial Group cut Medpace from a "buy" rating to a "hold" rating and lowered their target price for the company from $415.00 to $345.00 in a report on Wednesday, September 25th. TD Cowen dropped their target price on Medpace from $413.00 to $372.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. Baird R W cut shares of Medpace from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. Finally, William Blair reissued an "outperform" rating on shares of Medpace in a research note on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target 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.