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

Rheos Capital Works Inc. boosted its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 18.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 29,101 shares of the company’s stock after buying an additional 4,500 shares during the quarter. Rheos Capital Works Inc.’s holdings in Medpace were worth $9,714,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MEDP. Rise Advisors LLC purchased a new position in shares of Medpace during the first quarter valued at approximately $27,000. Mather Group LLC. purchased a new position in shares of Medpace during the first quarter valued at approximately $28,000. Fidelis Capital Partners LLC purchased a new position in shares of Medpace during the first quarter valued at approximately $31,000. J.Safra Asset Management Corp lifted its holdings in shares of Medpace by 87.0% during the first quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock valued at $41,000 after purchasing an additional 47 shares during the last quarter. Finally, DT Investment Partners LLC purchased a new position in shares of Medpace during the second quarter valued at approximately $41,000. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Medpace Price Performance

Shares of MEDP stock opened at $346.50 on Thursday. Medpace Holdings, Inc. has a 1 year low of $227.21 and a 1 year high of $459.77. The firm has a fifty day moving average price of $357.82 and a 200-day moving average price of $384.08. The company has a market cap of $10.74 billion, a price-to-earnings ratio of 35.32, a PEG ratio of 1.77 and a beta of 1.35.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on MEDP. TD Cowen lowered their target price on shares of Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Robert W. Baird reduced their price target on shares of Medpace from $430.00 to $413.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. UBS Group downgraded shares of Medpace from a “buy” rating to a “neutral” rating and reduced their price target for the company from $420.00 to $350.00 in a research report on Friday, September 27th. Redburn Atlantic began coverage on shares of Medpace in a research report on Monday. They set a “buy” rating and a $404.00 price target for the company. Finally, Jefferies Financial Group downgraded shares of Medpace from a “buy” rating to a “hold” rating and reduced their price target for the company from $415.00 to $345.00 in a research report on Wednesday, September 25th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Medpace has a consensus rating of “Moderate Buy” and a consensus target price 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.