Iron Triangle Partners LP Buys Shares of 192,842 Medpace Holdings, Inc. (NASDAQ:MEDP)

Iron Triangle Partners LP acquired a new position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 192,842 shares of the company’s stock, valued at approximately $64,371,000. Medpace makes up approximately 8.9% of Iron Triangle Partners LP’s portfolio, making the stock its 2nd biggest holding.

Other large investors have also recently bought and sold shares of the company. Signaturefd LLC boosted its position in Medpace by 4.9% during the second quarter. Signaturefd LLC now owns 559 shares of the company’s stock worth $230,000 after purchasing an additional 26 shares during the period. Wealth Alliance boosted its holdings in Medpace by 2.9% during the second quarter. Wealth Alliance now owns 970 shares of the company’s stock worth $399,000 after purchasing an additional 27 shares during the last quarter. Centaurus Financial Inc. lifted its holdings in Medpace by 2.0% during the third quarter. Centaurus Financial Inc. now owns 1,513 shares of the company’s stock valued at $505,000 after purchasing an additional 29 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Medpace by 0.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 4,340 shares of the company’s stock worth $1,787,000 after acquiring an additional 32 shares during the last quarter. Finally, Lindenwold Advisors INC raised its position in Medpace by 1.6% in the 3rd quarter. Lindenwold Advisors INC now owns 2,026 shares of the company’s stock worth $676,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Stock Up 0.5 %

MEDP stock opened at $342.36 on Tuesday. The stock has a market cap of $10.64 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 1.88 and a beta of 1.37. Medpace Holdings, Inc. has a fifty-two week low of $273.14 and a fifty-two week high of $459.77. The business has a 50 day moving average price of $337.43 and a 200 day moving average price of $370.62.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, October 21st. The company reported $3.01 EPS for the quarter, topping the consensus estimate of $2.77 by $0.24. The business had revenue of $533.32 million for the quarter, compared to analysts’ expectations of $540.99 million. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.22 earnings per share. As a group, sell-side analysts anticipate that Medpace Holdings, Inc. will post 11.93 EPS for the current year.

Analysts Set New Price Targets

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

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.