Stoneridge Investment Partners LLC Invests $778,000 in Medpace Holdings, Inc. (NASDAQ:MEDP)
Stoneridge Investment Partners LLC bought a new stake in Medpace Holdings, Inc. (NASDAQ:MEDP) during the second quarter, Holdings Channel reports. The institutional investor bought 26,844 shares of the company’s stock, valued at approximately $778,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Tudor Investment Corp ET AL increased its position in shares of Medpace Holdings by 16.4% in the first quarter. Tudor Investment Corp ET AL now owns 6,864 shares of the company’s stock valued at $205,000 after buying an additional 967 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Medpace Holdings by 5.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 27,922 shares of the company’s stock valued at $834,000 after buying an additional 1,368 shares during the last quarter. Teachers Advisors LLC increased its stake in Medpace Holdings by 9.1% in the first quarter. Teachers Advisors LLC now owns 27,271 shares of the company’s stock valued at $814,000 after buying an additional 2,278 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Medpace Holdings by 15.1% in the first quarter. Bank of New York Mellon Corp now owns 35,062 shares of the company’s stock valued at $1,047,000 after buying an additional 4,609 shares during the last quarter. Finally, American International Group Inc. purchased a new stake in Medpace Holdings during the first quarter valued at $145,000. Hedge funds and other institutional investors own 17.33% of the company’s stock.
Shares of Medpace Holdings, Inc. (MEDP) opened at 30.89 on Friday. The stock has a market cap of $1.22 billion and a P/E ratio of 54.38. The firm’s 50-day moving average price is $29.09 and its 200 day moving average price is $29.44. Medpace Holdings, Inc. has a 1-year low of $21.76 and a 1-year high of $38.94.
Medpace Holdings (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, July 31st. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.08. The company had revenue of $94.60 million for the quarter, compared to analyst estimates of $92.71 million. Medpace Holdings had a return on equity of 9.32% and a net margin of 5.37%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.45 earnings per share. On average, equities analysts expect that Medpace Holdings, Inc. will post $1.42 earnings per share for the current fiscal year.
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Several analysts have weighed in on the company. Zacks Investment Research upgraded Medpace Holdings from a “sell” rating to a “hold” rating and set a $33.00 price target on the stock in a research note on Thursday, August 3rd. Jefferies Group LLC reiterated a “hold” rating and set a $31.00 price target (up previously from $30.00) on shares of Medpace Holdings in a research note on Wednesday, August 2nd. Credit Suisse Group reiterated an “outperform” rating and set a $36.00 price target (up previously from $35.00) on shares of Medpace Holdings in a research note on Tuesday, June 6th. ValuEngine downgraded Medpace Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. Finally, Wells Fargo & Company downgraded Medpace Holdings from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 3rd. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $34.00.
Medpace Holdings Company Profile
Medpace Holdings, Inc is a clinical contract research organization. The Company provides clinical research-based drug and medical device development services. The Company partners with pharmaceutical, biotechnology, and medical device companies in the development and execution of clinical trials. The Company’s drug development services focus on full service Phase I-IV clinical development services and include 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.
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