Iron Triangle Partners LP Takes $64.37 Million Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Iron Triangle Partners LP purchased a new position in Medpace Holdings, Inc. (NASDAQ:MEDP) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 192,842 shares of the company’s stock, valued at approximately $64,371,000. Medpace comprises approximately 8.9% of Iron Triangle Partners LP’s portfolio, making the stock its 2nd largest position. Iron Triangle Partners LP owned 0.62% of Medpace as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Stone House Investment Management LLC acquired a new stake in shares of Medpace during the third quarter worth $33,000. Ashton Thomas Securities LLC bought a new stake in shares of Medpace in the 3rd quarter worth about $37,000. DT Investment Partners LLC bought a new position in Medpace during the 2nd quarter worth $41,000. Capital Performance Advisors LLP acquired a new position in shares of Medpace during the third quarter valued at approximately $46,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Medpace in the 2nd quarter worth about $52,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Medpace Stock Performance

Shares of MEDP opened at $342.36 on Tuesday. The company has a 50-day simple moving average of $337.43 and a 200-day simple moving average of $370.62. Medpace Holdings, Inc. has a 52 week low of $273.14 and a 52 week high of $459.77. The firm has a market capitalization of $10.64 billion, a P/E ratio of 29.98, a P/E/G ratio of 1.88 and a beta of 1.37.

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

Analyst Ratings Changes

MEDP has been the topic of a number of recent research reports. Baird R W downgraded Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Redburn Atlantic started coverage on Medpace in a research report on Monday, October 14th. They issued a “buy” rating and a $404.00 price target on the stock. Jefferies Financial Group downgraded shares of Medpace from a “buy” rating to a “hold” rating and lowered their target price for the stock from $415.00 to $345.00 in a research note on Wednesday, September 25th. William Blair reaffirmed an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. Finally, Robert W. Baird upped their price objective on shares of Medpace from $349.00 to $354.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Medpace presently has a consensus rating of “Hold” and a consensus target price of $380.56.

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.