Quadrature Capital Ltd Buys New Position in Medpace Holdings Inc (MEDP)
Quadrature Capital Ltd bought a new stake in Medpace Holdings Inc (NASDAQ:MEDP) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 12,225 shares of the company’s stock, valued at approximately $443,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Quadrant L P CA acquired a new position in Medpace during the third quarter worth $119,000. SG Americas Securities LLC acquired a new position in Medpace during the fourth quarter worth $151,000. Atria Investments LLC acquired a new position in Medpace during the fourth quarter worth $211,000. Susquehanna International Group LLP raised its position in Medpace by 30.9% during the third quarter. Susquehanna International Group LLP now owns 9,947 shares of the company’s stock worth $317,000 after acquiring an additional 2,347 shares during the period. Finally, Wells Fargo & Company MN raised its position in Medpace by 42.8% during the third quarter. Wells Fargo & Company MN now owns 10,354 shares of the company’s stock worth $330,000 after acquiring an additional 3,104 shares during the period. Hedge funds and other institutional investors own 20.71% of the company’s stock.
A number of equities analysts have weighed in on the stock. Jefferies Group restated a “hold” rating and set a $35.00 price objective on shares of Medpace in a research report on Thursday. Wells Fargo & Co reduced their price objective on shares of Medpace from $38.00 to $35.00 and set a “market perform” rating for the company in a research report on Wednesday. Credit Suisse Group restated an “outperform” rating and set a $42.00 price objective (up from $41.00) on shares of Medpace in a research report on Tuesday. BidaskClub upgraded shares of Medpace from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 16th. Finally, Zacks Investment Research upgraded shares of Medpace from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Wednesday, December 13th. Seven research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $36.83.
Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, February 26th. The company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. The business had revenue of $99.45 million during the quarter, compared to analysts’ expectations of $97.25 million. Medpace had a net margin of 8.97% and a return on equity of 10.55%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.35 earnings per share. sell-side analysts anticipate that Medpace Holdings Inc will post 1.88 EPS for the current fiscal year.
In other news, major shareholder Medpace Limited Partnership sold 4,600,000 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $30.16, for a total value of $138,736,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 25.80% of the stock is owned by corporate insiders.
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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