Equitable Trust Co. Buys 444 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Equitable Trust Co. increased its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 19.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,757 shares of the company’s stock after acquiring an additional 444 shares during the quarter. Equitable Trust Co.’s holdings in Medpace were worth $920,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Signaturefd LLC increased its stake in Medpace by 4.9% during the 2nd quarter. Signaturefd LLC now owns 559 shares of the company’s stock valued at $230,000 after purchasing an additional 26 shares in the last quarter. Wealth Alliance increased its stake in Medpace by 2.9% during the 2nd quarter. Wealth Alliance now owns 970 shares of the company’s stock valued at $399,000 after purchasing an additional 27 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Medpace by 0.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 4,340 shares of the company’s stock valued at $1,787,000 after purchasing an additional 32 shares in the last quarter. Journey Advisory Group LLC increased its stake in Medpace by 1.9% during the 2nd quarter. Journey Advisory Group LLC now owns 2,390 shares of the company’s stock valued at $984,000 after purchasing an additional 44 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in Medpace by 7.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 633 shares of the company’s stock valued at $261,000 after purchasing an additional 46 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MEDP. Jefferies Financial Group lowered shares of Medpace from a “buy” rating to a “hold” rating and reduced their target price for the stock from $415.00 to $345.00 in a research note on Wednesday, September 25th. Baird R W lowered shares of Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Guggenheim reduced their target price on shares of Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Truist Financial reduced their target price 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. Finally, StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $380.00.

Medpace Stock Performance

Shares of NASDAQ:MEDP opened at $362.79 on Friday. The company’s 50-day moving average is $341.59 and its 200 day moving average is $377.50. The company has a market capitalization of $11.28 billion, a P/E ratio of 31.77, a price-to-earnings-growth ratio of 1.98 and a beta of 1.37. 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 released its quarterly earnings data 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 net margin of 17.66% and a return on equity of 50.87%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.22 earnings per share. As a group, research analysts predict that Medpace Holdings, Inc. will post 11.93 earnings per share for the current 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.