Hanlon Investment Management Inc. Acquires 47 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Hanlon Investment Management Inc. boosted its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,383 shares of the company’s stock after purchasing an additional 47 shares during the quarter. Hanlon Investment Management Inc.’s holdings in Medpace were worth $981,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Truist Financial Corp grew its position in shares of Medpace by 39.0% during the 4th quarter. Truist Financial Corp now owns 3,688 shares of the company’s stock worth $1,130,000 after buying an additional 1,035 shares during the period. Victory Capital Management Inc. grew its holdings in Medpace by 21.5% in the fourth quarter. Victory Capital Management Inc. now owns 68,657 shares of the company’s stock worth $21,045,000 after purchasing an additional 12,127 shares during the period. Benjamin F. Edwards & Company Inc. bought a new stake in Medpace in the fourth quarter valued at $227,000. M&T Bank Corp raised its holdings in shares of Medpace by 129.1% during the fourth quarter. M&T Bank Corp now owns 2,990 shares of the company’s stock valued at $917,000 after purchasing an additional 1,685 shares during the period. Finally, Private Advisor Group LLC bought a new position in shares of Medpace during the 4th quarter worth about $296,000. 77.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of Medpace in a research report on Tuesday, July 23rd. StockNews.com upgraded Medpace from a “hold” rating to a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft lowered their target price on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Truist Financial started coverage on shares of Medpace in a research report on Thursday, August 1st. They issued a “hold” rating and a $415.00 price target for the company. Finally, Guggenheim lowered their price objective on shares of Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $423.00.

Medpace Trading Down 3.4 %

NASDAQ MEDP opened at $335.74 on Friday. The firm has a market capitalization of $10.40 billion, a P/E ratio of 34.22, a PEG ratio of 1.85 and a beta of 1.36. The business has a fifty day simple moving average of $390.71 and a 200 day simple moving average of $395.32. Medpace Holdings, Inc. has a 12 month low of $227.21 and a 12 month high of $459.77.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, July 22nd. The company reported $2.75 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $528.41 million. During the same quarter in the prior year, the company posted $1.93 earnings per share. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. As a group, sell-side analysts predict that Medpace Holdings, Inc. will post 11.66 EPS for the current fiscal year.

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.