Pendal Group Ltd boosted its stake in shares of Medpace Holdings Inc (NASDAQ:MEDP) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,536,596 shares of the company’s stock after purchasing an additional 54,267 shares during the period. Medpace comprises 1.2% of Pendal Group Ltd’s portfolio, making the stock its 17th largest holding. Pendal Group Ltd owned about 4.29% of Medpace worth $88,151,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Advisor Group Inc. lifted its position in Medpace by 18.7% during the second quarter. Advisor Group Inc. now owns 1,462 shares of the company’s stock valued at $95,000 after purchasing an additional 230 shares during the period. Marshall Wace LLP bought a new position in Medpace during the first quarter valued at approximately $99,000. LS Investment Advisors LLC lifted its position in Medpace by 215.5% during the first quarter. LS Investment Advisors LLC now owns 2,745 shares of the company’s stock valued at $162,000 after purchasing an additional 1,875 shares during the period. South Dakota Investment Council bought a new position in Medpace during the first quarter valued at approximately $189,000. Finally, Aperio Group LLC bought a new position in Medpace during the second quarter valued at approximately $214,000. Institutional investors own 76.98% of the company’s stock.
MEDP stock traded up $1.50 during midday trading on Tuesday, reaching $79.62. 16,523 shares of the company’s stock traded hands, compared to its average volume of 567,444. Medpace Holdings Inc has a 52-week low of $45.88 and a 52-week high of $80.65. The company has a market cap of $2.84 billion, a PE ratio of 30.76, a P/E/G ratio of 2.16 and a beta of 1.57. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.07. The stock’s 50-day moving average is $67.53.
Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, July 29th. The company reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.18. The business had revenue of $214.10 million during the quarter, compared to analysts’ expectations of $200.99 million. Medpace had a net margin of 11.28% and a return on equity of 17.65%. The firm’s revenue was up 25.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.61 earnings per share. Sell-side analysts anticipate that Medpace Holdings Inc will post 2.91 earnings per share for the current fiscal year.
A number of brokerages have commented on MEDP. BidaskClub raised shares of Medpace from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 3rd. ValuEngine raised shares of Medpace from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. TheStreet raised shares of Medpace from a “c” rating to a “b-” rating in a report on Thursday, June 6th. Robert W. Baird upped their target price on shares of Medpace from $57.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, April 30th. Finally, SunTrust Banks upped their target price on shares of Medpace to $85.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $73.75.
Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in a range of therapeutic areas.
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