Balboa Wealth Partners Makes New Investment in Medpace Holdings, Inc. (NASDAQ:MEDP)

Balboa Wealth Partners acquired a new position in Medpace Holdings, Inc. (NASDAQ:MEDP) in the 4th quarter, HoldingsChannel reports. The fund acquired 604 shares of the company’s stock, valued at approximately $201,000.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its stake in Medpace by 7.2% in the third quarter. State Street Corp now owns 752,957 shares of the company’s stock worth $251,337,000 after purchasing an additional 50,312 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Medpace by 7.6% during the third quarter. Geode Capital Management LLC now owns 628,054 shares of the company’s stock valued at $209,885,000 after acquiring an additional 44,371 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Medpace by 36.0% during the third quarter. Wellington Management Group LLP now owns 415,255 shares of the company’s stock valued at $138,612,000 after acquiring an additional 109,886 shares in the last quarter. American Capital Management Inc. raised its stake in shares of Medpace by 2.6% during the third quarter. American Capital Management Inc. now owns 380,646 shares of the company’s stock valued at $127,060,000 after acquiring an additional 9,592 shares in the last quarter. Finally, GW&K Investment Management LLC raised its stake in shares of Medpace by 93.9% during the fourth quarter. GW&K Investment Management LLC now owns 275,460 shares of the company’s stock valued at $91,516,000 after acquiring an additional 133,379 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.

Medpace Stock Up 2.2 %

Shares of NASDAQ:MEDP opened at $324.95 on Friday. The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 3.81 and a beta of 1.47. Medpace Holdings, Inc. has a 52 week low of $302.01 and a 52 week high of $459.77. The firm has a 50 day moving average of $340.28 and a 200 day moving average of $341.42.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, February 10th. The company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.71. Medpace had a net margin of 19.17% and a return on equity of 51.48%. On average, sell-side analysts expect that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Analysts Set New Price Targets

Separately, Robert W. Baird lifted their price target on shares of Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $381.44.

About Medpace

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.