State Street Corp Increases Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

State Street Corp boosted its stake in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 7.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 752,957 shares of the company's stock after buying an additional 50,312 shares during the quarter. State Street Corp owned approximately 2.42% of Medpace worth $251,337,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MEDP. Baillie Gifford & Co. lifted its position 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 buying an additional 9,478 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings 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 acquiring an additional 2,675 shares during the period. CWA Asset Management Group LLC bought a new stake in Medpace during the third quarter worth $1,306,000. US Bancorp DE boosted its position in Medpace by 59.3% in the third quarter. US Bancorp DE now owns 8,100 shares of the company's stock worth $2,704,000 after purchasing an additional 3,016 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Medpace in the 3rd quarter valued at $3,098,000. 77.98% of the stock is currently owned by institutional investors.

Medpace Price Performance

Shares of Medpace stock traded up $5.93 during trading hours on Thursday, reaching $347.43. The company had a trading volume of 193,393 shares, compared to its average volume of 282,194. The firm has a market cap of $10.80 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 1.94 and a beta of 1.37. Medpace Holdings, Inc. has a one year low of $277.72 and a one year high of $459.77. The business has a fifty day simple moving average of $339.14 and a 200 day simple moving average of $368.27.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MEDP shares. StockNews.com cut Medpace from a "buy" rating to a "hold" rating in a research note on Friday, September 27th. William Blair reaffirmed an "outperform" rating on shares of Medpace in a research report on Tuesday, October 22nd. Jefferies Financial Group downgraded shares of Medpace from a "buy" rating to a "hold" rating and reduced their target price for the company from $415.00 to $345.00 in a research report on Wednesday, September 25th. UBS Group cut shares of Medpace from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $420.00 to $350.00 in a report on Friday, September 27th. Finally, Redburn Atlantic began coverage on Medpace in a report on Monday, October 14th. They set a "buy" rating and a $404.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company 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.