Invesco LLC Sells 47 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Invesco LLC decreased its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 1.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,935 shares of the company’s stock after selling 47 shares during the quarter. Invesco LLC’s holdings in Medpace were worth $980,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Fidelis Capital Partners LLC acquired a new position in Medpace during the 1st quarter valued at about $31,000. DT Investment Partners LLC acquired a new position in shares of Medpace during the second quarter valued at about $41,000. J.Safra Asset Management Corp raised its position in shares of Medpace by 87.0% in the 1st quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock valued at $41,000 after purchasing an additional 47 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Medpace in the 2nd quarter worth approximately $52,000. Finally, EntryPoint Capital LLC purchased a new stake in Medpace during the 1st quarter worth approximately $54,000. Institutional investors own 77.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MEDP. Guggenheim decreased their price target on shares of Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. UBS Group lowered Medpace from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $420.00 to $350.00 in a research note on Friday, September 27th. Deutsche Bank Aktiengesellschaft dropped their price target on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. William Blair reaffirmed an “outperform” rating on shares of Medpace in a report on Tuesday, October 22nd. Finally, Baird R W lowered Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $380.00.

Medpace Trading Up 1.7 %

MEDP traded up $5.34 on Friday, reaching $319.56. The stock had a trading volume of 307,964 shares, compared to its average volume of 275,053. The business’s 50-day moving average price is $344.59 and its two-hundred day moving average price is $378.67. Medpace Holdings, Inc. has a 12-month low of $253.49 and a 12-month high of $459.77. The company has a market cap of $9.93 billion, a P/E ratio of 27.98, a price-to-earnings-growth ratio of 1.76 and a beta of 1.35.

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

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.