Spyglass Capital Management LLC Has $47.36 Million Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Spyglass Capital Management LLC lifted its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 29.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,882 shares of the company’s stock after purchasing an additional 32,466 shares during the quarter. Medpace accounts for about 3.1% of Spyglass Capital Management LLC’s portfolio, making the stock its 19th biggest position. Spyglass Capital Management LLC’s holdings in Medpace were worth $47,360,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cetera Advisors LLC raised its position in shares of Medpace by 162.4% during the first quarter. Cetera Advisors LLC now owns 2,608 shares of the company’s stock worth $1,054,000 after purchasing an additional 1,614 shares during the period. Baillie Gifford & Co. raised its position in Medpace by 175.6% in the 3rd quarter. Baillie Gifford & Co. now owns 14,876 shares of the company’s stock valued at $4,966,000 after buying an additional 9,478 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in Medpace in the 3rd quarter valued at approximately $1,306,000. Oppenheimer Asset Management Inc. raised its position in Medpace by 6.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 45,473 shares of the company’s stock valued at $15,179,000 after buying an additional 2,675 shares during the last quarter. Finally, US Bancorp DE raised its position in Medpace by 59.3% in the 3rd quarter. US Bancorp DE now owns 8,100 shares of the company’s stock valued at $2,704,000 after buying an additional 3,016 shares during the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Price Performance

Shares of NASDAQ MEDP opened at $338.96 on Friday. The stock has a market capitalization of $10.53 billion, a PE ratio of 29.68, a P/E/G ratio of 1.88 and a beta of 1.37. The business has a fifty day moving average price of $338.32 and a two-hundred day moving average price of $371.75. Medpace Holdings, Inc. has a fifty-two week low of $268.80 and a fifty-two week high of $459.77.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, beating 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 company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.22 EPS. On average, equities analysts expect that Medpace Holdings, Inc. will post 11.93 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group lowered Medpace from a “buy” rating to a “hold” rating and dropped their target price for the company from $415.00 to $345.00 in a research report on Wednesday, September 25th. William Blair restated an “outperform” rating on shares of Medpace in a research note on Tuesday, October 22nd. TD Cowen decreased their price target on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. StockNews.com downgraded Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Finally, UBS Group downgraded Medpace from a “buy” rating to a “neutral” rating and decreased their price target for the company from $420.00 to $350.00 in a research note on Friday, September 27th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $380.56.

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.