Rheos Capital Works Inc. Raises Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Rheos Capital Works Inc. increased its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 18.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,101 shares of the company’s stock after buying an additional 4,500 shares during the period. Rheos Capital Works Inc. owned 0.09% of Medpace worth $9,714,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Vontobel Holding Ltd. increased its stake in Medpace by 137.3% in the third quarter. Vontobel Holding Ltd. now owns 1,424 shares of the company’s stock valued at $475,000 after acquiring an additional 824 shares during the last quarter. Cabot Wealth Management Inc. increased its stake in Medpace by 4.5% in the third quarter. Cabot Wealth Management Inc. now owns 15,625 shares of the company’s stock valued at $5,216,000 after acquiring an additional 671 shares during the last quarter. Swedbank AB bought a new position in Medpace in the third quarter valued at $7,477,000. Willis Investment Counsel increased its stake in Medpace by 3.9% in the third quarter. Willis Investment Counsel now owns 8,002 shares of the company’s stock valued at $2,671,000 after acquiring an additional 300 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. increased its stake in Medpace by 4.7% in the third quarter. Redhawk Wealth Advisors Inc. now owns 4,619 shares of the company’s stock valued at $1,542,000 after acquiring an additional 207 shares during the last quarter. Institutional investors own 77.98% of the company’s stock.

Medpace Trading Down 1.9 %

Medpace stock opened at $346.50 on Thursday. The firm has a 50-day moving average of $357.82 and a 200-day moving average of $384.08. The firm has a market cap of $10.74 billion, a P/E ratio of 35.32, a P/E/G ratio of 1.77 and a beta of 1.35. Medpace Holdings, Inc. has a 1-year low of $227.21 and a 1-year high of $459.77.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, July 22nd. The company reported $2.75 EPS for the quarter, topping the consensus estimate of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The business had revenue of $528.10 million during the quarter, compared to analyst estimates of $528.41 million. During the same period last year, the business posted $1.93 earnings per share. Medpace’s quarterly revenue was up 14.6% compared to the same quarter last year. Research analysts forecast that Medpace Holdings, Inc. will post 11.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Truist Financial reduced their price objective on Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a research note on Monday. TD Cowen reduced their price objective on Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Finally, Jefferies Financial Group cut Medpace from a “buy” rating to a “hold” rating and reduced their price objective for the company from $415.00 to $345.00 in a research note on Wednesday, September 25th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Medpace has an average rating of “Moderate Buy” and a consensus price target of $394.00.

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.