Medpace Holdings, Inc. (NASDAQ:MEDP) Stock Position Lifted by XTX Topco Ltd

XTX Topco Ltd grew its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 576.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,540 shares of the company’s stock after purchasing an additional 5,573 shares during the period. XTX Topco Ltd’s holdings in Medpace were worth $2,183,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of MEDP. Tidal Investments LLC raised its stake in shares of Medpace by 16.2% in the 1st quarter. Tidal Investments LLC now owns 874 shares of the company’s stock worth $353,000 after buying an additional 122 shares in the last quarter. CWM LLC raised its holdings in shares of Medpace by 38.8% in the 2nd quarter. CWM LLC now owns 2,323 shares of the company’s stock worth $957,000 after purchasing an additional 649 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Medpace by 21.3% during the second quarter. Sequoia Financial Advisors LLC now owns 603 shares of the company’s stock valued at $248,000 after purchasing an additional 106 shares during the last quarter. M&G Plc grew its position in Medpace by 12.4% in the second quarter. M&G Plc now owns 27,508 shares of the company’s stock worth $11,333,000 after buying an additional 3,040 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Medpace by 106.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,343 shares of the company’s stock valued at $553,000 after buying an additional 694 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MEDP. Truist Financial decreased their target price on Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Jefferies Financial Group downgraded Medpace from a “buy” rating to a “hold” rating and cut their price objective for the stock from $415.00 to $345.00 in a report on Wednesday, September 25th. UBS Group cut shares of Medpace from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $420.00 to $350.00 in a report on Friday, September 27th. StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Finally, TD Cowen decreased their price objective on shares of Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $380.56.

Medpace Stock Performance

Shares of MEDP opened at $350.53 on Friday. The company has a market capitalization of $10.89 billion, a PE ratio of 30.69, a PEG ratio of 1.92 and a beta of 1.37. The company’s 50 day moving average price is $338.31 and its 200 day moving average price is $369.36. Medpace Holdings, Inc. has a 52 week low of $277.72 and a 52 week high of $459.77.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $540.99 million. During the same quarter last year, the business posted $2.22 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities analysts forecast that Medpace Holdings, Inc. will post 11.93 earnings per share for the current fiscal year.

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.