First Trust Advisors LP Increases Holdings in Medpace Holdings Inc (NASDAQ:MEDP)
First Trust Advisors LP grew its holdings in Medpace Holdings Inc (NASDAQ:MEDP) by 6.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,321 shares of the company’s stock after acquiring an additional 6,503 shares during the period. First Trust Advisors LP owned about 0.32% of Medpace worth $8,389,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in shares of Medpace by 21.0% in the first quarter. Russell Investments Group Ltd. now owns 132,492 shares of the company’s stock worth $9,779,000 after purchasing an additional 22,978 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Medpace by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 322,328 shares of the company’s stock worth $23,653,000 after purchasing an additional 3,420 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Medpace by 1.7% in the first quarter. Rhumbline Advisers now owns 88,382 shares of the company’s stock worth $6,485,000 after purchasing an additional 1,476 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Medpace by 4.3% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 7,300 shares of the company’s stock worth $536,000 after purchasing an additional 300 shares during the last quarter. Finally, Redmond Asset Management LLC bought a new stake in shares of Medpace in the first quarter worth about $249,000. Institutional investors and hedge funds own 80.98% of the company’s stock.
Several equities research analysts have recently issued reports on the company. Robert W. Baird cut Medpace from a “neutral” rating to an “underperform” rating and set a $77.00 target price on the stock. in a report on Monday, April 20th. BidaskClub raised Medpace from a “hold” rating to a “buy” rating in a report on Saturday. Credit Suisse Group reduced their price objective on Medpace from $105.00 to $92.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. SunTrust Banks raised Medpace from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $54.00 to $85.00 in a research note on Thursday, April 30th. Finally, CSFB boosted their price objective on Medpace from $91.00 to $99.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $90.29.
Medpace (NASDAQ:MEDP) last released its earnings results on Tuesday, April 28th. The company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.01). The business had revenue of $230.88 million for the quarter, compared to the consensus estimate of $226.23 million. Medpace had a net margin of 12.37% and a return on equity of 16.96%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 EPS. As a group, analysts predict that Medpace Holdings Inc will post 2.39 earnings per share for the current fiscal year.
Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in a range of therapeutic areas.
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