Wellington Management Group LLP Grows Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Wellington Management Group LLP increased its position in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 36.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 415,255 shares of the company's stock after buying an additional 109,886 shares during the quarter. Wellington Management Group LLP owned 1.34% of Medpace worth $138,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of MEDP. Sequoia Financial Advisors LLC grew its holdings in shares of Medpace by 21.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 603 shares of the company's stock valued at $248,000 after purchasing an additional 106 shares during the last quarter. M&G Plc boosted its stake in shares of Medpace by 12.4% during the second quarter. M&G Plc now owns 27,508 shares of the company's stock valued at $11,333,000 after purchasing an additional 3,040 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Medpace by 106.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,343 shares of the company's stock worth $553,000 after buying an additional 694 shares during the period. J.Safra Asset Management Corp raised its holdings in Medpace by 121.8% during the 2nd quarter. J.Safra Asset Management Corp now owns 224 shares of the company's stock valued at $92,000 after buying an additional 123 shares during the last quarter. Finally, Financial Strategies Group Inc. purchased a new stake in Medpace during the 2nd quarter valued at $225,000. Hedge funds and other institutional investors own 77.98% of the company's stock.

Medpace Trading Down 2.9 %

NASDAQ:MEDP traded down $10.27 on Tuesday, reaching $341.95. 305,546 shares of the stock traded hands, compared to its average volume of 282,743. The company's fifty day simple moving average is $338.68 and its 200 day simple moving average is $368.95. The company has a market capitalization of $10.63 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 1.94 and a beta of 1.37. Medpace Holdings, Inc. has a 12 month low of $277.72 and a 12 month high of $459.77.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its earnings results on Monday, October 21st. The company reported $3.01 EPS for the quarter, beating the consensus estimate of $2.77 by $0.24. The business had revenue of $533.32 million for the quarter, compared to the consensus estimate 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 period last year, the business posted $2.22 EPS. Equities analysts anticipate that Medpace Holdings, Inc. will post 11.93 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on MEDP shares. William Blair reaffirmed an "outperform" rating on shares of Medpace in a research note on Tuesday, October 22nd. UBS Group cut Medpace from a "buy" rating to a "neutral" rating and cut their price objective for the company from $420.00 to $350.00 in a research report on Friday, September 27th. Redburn Atlantic began coverage on Medpace in a report on Monday, October 14th. They issued a "buy" rating and a $404.00 price objective for the company. StockNews.com cut shares of Medpace from a "buy" rating to a "hold" rating in a report on Friday, September 27th. Finally, Truist Financial decreased their price target on shares of Medpace from $415.00 to $397.00 and set a "hold" rating for the company in a research note on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $380.56.

About Medpace

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.