Sanctuary Advisors LLC Boosts Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Sanctuary Advisors LLC grew its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 21.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,120 shares of the company’s stock after buying an additional 721 shares during the quarter. Sanctuary Advisors LLC’s holdings in Medpace were worth $1,392,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MEDP. Stone House Investment Management LLC purchased a new position in Medpace in the 3rd quarter valued at $33,000. Ashton Thomas Securities LLC acquired a new position in Medpace during the third quarter worth about $37,000. Capital Performance Advisors LLP purchased a new stake in Medpace during the 3rd quarter valued at about $46,000. Ashton Thomas Private Wealth LLC acquired a new stake in Medpace in the 2nd quarter valued at about $52,000. Finally, True Wealth Design LLC lifted its stake in Medpace by 16,800.0% in the 3rd quarter. True Wealth Design LLC now owns 169 shares of the company’s stock worth $56,000 after purchasing an additional 168 shares in the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MEDP. Jefferies Financial Group lowered Medpace from a “buy” rating to a “hold” rating and dropped their price target for the company from $415.00 to $345.00 in a research report on Wednesday, September 25th. Truist Financial cut their target price on Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research note on Monday, October 14th. Robert W. Baird boosted their price target on shares of Medpace from $349.00 to $354.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Baird R W downgraded shares of Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, William Blair reiterated an “outperform” rating on shares of Medpace in a report on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Medpace has a consensus rating of “Hold” and an average target price of $380.56.

Medpace Stock Performance

Medpace stock opened at $337.28 on Friday. The company has a market capitalization of $10.48 billion, a price-to-earnings ratio of 29.53, a price-to-earnings-growth ratio of 1.89 and a beta of 1.37. The company’s 50 day simple moving average is $339.14 and its 200-day simple moving average is $366.30. Medpace Holdings, Inc. has a 1 year low of $277.72 and a 1 year high of $459.77.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, October 21st. The company reported $3.01 EPS for the quarter, topping 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 analysts’ expectations of $540.99 million. During the same period in the prior year, the firm earned $2.22 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. Equities analysts expect that Medpace Holdings, Inc. will post 11.93 earnings per share for the current year.

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.