Oppenheimer Asset Management Inc. Boosts Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Oppenheimer Asset Management Inc. grew its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 6.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,473 shares of the company’s stock after purchasing an additional 2,675 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Medpace were worth $15,179,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Renaissance Technologies LLC boosted its position in Medpace by 38.3% in the second quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock worth $182,692,000 after purchasing an additional 122,800 shares during the last quarter. Epoch Investment Partners Inc. raised its stake in shares of Medpace by 15.3% during the 1st quarter. Epoch Investment Partners Inc. now owns 406,446 shares of the company’s stock worth $164,265,000 after purchasing an additional 53,983 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of Medpace by 55.1% in the 2nd quarter. Clearbridge Investments LLC now owns 403,892 shares of the company’s stock worth $166,343,000 after buying an additional 143,481 shares during the last quarter. Bessemer Group Inc. grew its position in Medpace by 1.6% during the first quarter. Bessemer Group Inc. now owns 394,834 shares of the company’s stock valued at $159,572,000 after buying an additional 6,137 shares during the period. Finally, Westwind Capital increased its holdings in Medpace by 800.1% during the second quarter. Westwind Capital now owns 380,929 shares of the company’s stock worth $156,886,000 after buying an additional 338,610 shares during the last quarter. 77.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MEDP. StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. William Blair reissued an “outperform” rating on shares of Medpace in a report on Tuesday, October 22nd. 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 note on Wednesday, July 24th. Robert W. Baird cut Medpace from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $413.00 to $349.00 in a research report on Wednesday, October 23rd. Finally, TD Cowen decreased their price objective on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $380.00.

Medpace Trading Up 0.3 %

MEDP stock opened at $361.94 on Thursday. The firm has a 50 day moving average of $341.97 and a 200-day moving average of $376.72. The firm has a market capitalization of $11.25 billion, a P/E ratio of 31.69, a price-to-earnings-growth ratio of 2.00 and a beta of 1.37. Medpace Holdings, Inc. has a 12 month low of $268.80 and a 12 month high of $459.77.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, October 21st. The company reported $3.01 EPS 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 the consensus estimate of $540.99 million. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $2.22 EPS. Sell-side analysts predict that Medpace Holdings, Inc. will post 11.93 EPS for the current year.

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.