Edgestream Partners L.P. Invests $5.38 Million in Medpace Holdings, Inc. (NASDAQ:MEDP)

Edgestream Partners L.P. acquired a new position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,071 shares of the company’s stock, valued at approximately $5,383,000.

Several other large investors also recently modified their holdings of MEDP. Private Advisor Group LLC bought a new position in Medpace during the fourth quarter worth $296,000. Principal Securities Inc. bought a new position in Medpace during the fourth quarter worth $68,000. Vanguard Personalized Indexing Management LLC boosted its stake in Medpace by 91.7% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 3,149 shares of the company’s stock worth $965,000 after acquiring an additional 1,506 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Medpace by 40.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,098 shares of the company’s stock worth $2,175,000 after acquiring an additional 2,061 shares in the last quarter. Finally, Level Four Advisory Services LLC boosted its stake in Medpace by 10.6% during the fourth quarter. Level Four Advisory Services LLC now owns 1,744 shares of the company’s stock worth $535,000 after acquiring an additional 167 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Medpace Price Performance

MEDP opened at $354.65 on Wednesday. The company’s 50-day moving average is $382.17 and its 200 day moving average is $392.66. Medpace Holdings, Inc. has a fifty-two week low of $227.21 and a fifty-two week high of $459.77. The firm has a market capitalization of $10.99 billion, a P/E ratio of 36.15, a PEG ratio of 1.74 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The company had revenue of $528.10 million for the quarter, compared to analyst estimates of $528.41 million. During the same period last year, the firm earned $1.93 earnings per share. The firm’s revenue was up 14.6% on a year-over-year basis. On average, equities research analysts expect that Medpace Holdings, Inc. will post 11.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MEDP. StockNews.com raised shares of Medpace from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Robert W. Baird dropped their price objective on shares of Medpace from $469.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Guggenheim dropped their price objective on shares of Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, William Blair reaffirmed an “outperform” rating on shares of Medpace in a research note on Wednesday, September 11th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $423.00.

Medpace Company 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.