Thrivent Financial for Lutherans Increases Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Thrivent Financial for Lutherans increased its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 61.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,430 shares of the company's stock after buying an additional 5,484 shares during the quarter. Thrivent Financial for Lutherans' holdings in Medpace were worth $4,817,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its holdings in shares of Medpace by 38.3% in the 2nd quarter. Renaissance Technologies LLC now owns 443,588 shares of the company's stock valued at $182,692,000 after acquiring an additional 122,800 shares during the period. Clearbridge Investments LLC increased its stake in Medpace by 55.1% in the second quarter. Clearbridge Investments LLC now owns 403,892 shares of the company's stock valued at $166,343,000 after purchasing an additional 143,481 shares during the period. Westwind Capital raised its holdings in shares of Medpace by 800.1% in the second quarter. Westwind Capital now owns 380,929 shares of the company's stock valued at $156,886,000 after buying an additional 338,610 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Medpace by 62.3% in the second quarter. AQR Capital Management LLC now owns 310,650 shares of the company's stock valued at $127,941,000 after buying an additional 119,257 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Medpace by 1.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 256,100 shares of the company's stock worth $103,504,000 after buying an additional 3,222 shares during the period. Hedge funds and other institutional investors own 77.98% of the company's stock.

Medpace Stock Performance

MEDP stock traded down $4.07 during trading on Friday, reaching $337.75. 351,391 shares of the company were exchanged, compared to its average volume of 390,956. Medpace Holdings, Inc. has a 52-week low of $268.80 and a 52-week high of $459.77. The company has a market cap of $10.50 billion, a P/E ratio of 29.58, a PEG ratio of 1.89 and a beta of 1.37. The stock's 50 day moving average price is $340.14 and its 200 day moving average price is $373.13.

Medpace (NASDAQ:MEDP - Get Free Report) last released its quarterly earnings results on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, topping analysts' consensus estimates of $2.77 by $0.24. The business had revenue of $533.32 million for 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 company's revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.22 EPS. As a group, equities research analysts forecast that Medpace Holdings, Inc. will post 11.93 EPS for the current year.

Wall Street Analyst Weigh In

MEDP has been the subject of a number of recent research reports. Robert W. Baird cut Medpace from an "outperform" rating to a "neutral" rating and decreased their price objective for the stock from $413.00 to $349.00 in a research report on Wednesday, October 23rd. Baird R W downgraded Medpace from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 23rd. TD Cowen dropped their price objective on shares of Medpace from $413.00 to $372.00 and set a "buy" rating on the stock in a research note on Wednesday, October 23rd. UBS Group cut shares of Medpace from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $420.00 to $350.00 in a research note on Friday, September 27th. Finally, William Blair reiterated 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 issued a buy rating to the company's stock. According to MarketBeat.com, Medpace currently has a consensus rating of "Hold" and a consensus price target of $380.00.

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.