Cumberland Partners Ltd Has $1.17 Million Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Cumberland Partners Ltd raised its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 45.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,500 shares of the company’s stock after buying an additional 1,100 shares during the quarter. Cumberland Partners Ltd’s holdings in Medpace were worth $1,168,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. lifted its holdings in shares of Medpace by 175.6% during 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. GSA Capital Partners LLP acquired a new stake in shares of Medpace in the 3rd quarter valued at $276,000. Nations Financial Group Inc. IA ADV boosted its holdings in Medpace by 1.7% in the third quarter. Nations Financial Group Inc. IA ADV now owns 2,376 shares of the company’s stock worth $793,000 after purchasing an additional 39 shares in the last quarter. Versor Investments LP increased its position in Medpace by 26.6% during the third quarter. Versor Investments LP now owns 4,902 shares of the company’s stock worth $1,636,000 after buying an additional 1,029 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in Medpace during the third quarter valued at about $37,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MEDP shares. Truist Financial lowered their price objective on Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Robert W. Baird downgraded shares of Medpace from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $413.00 to $349.00 in a report on Wednesday, October 23rd. TD Cowen dropped their target price on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Guggenheim decreased their price target on shares of Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $380.00.

Medpace Price Performance

Shares of Medpace stock opened at $360.81 on Wednesday. Medpace Holdings, Inc. has a 52-week low of $268.80 and a 52-week high of $459.77. The firm has a market capitalization of $11.21 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37. The company’s fifty day moving average price is $341.75 and its two-hundred day moving average price is $376.96.

Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.24. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The company had revenue of $533.32 million for the quarter, compared to the consensus estimate of $540.99 million. During the same period in the previous year, the business earned $2.22 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. Analysts predict that Medpace Holdings, Inc. will post 11.93 earnings per share for the current fiscal year.

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.