Sheets Smith Wealth Management Acquires 101 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Sheets Smith Wealth Management boosted its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,145 shares of the company’s stock after buying an additional 101 shares during the quarter. Sheets Smith Wealth Management’s holdings in Medpace were worth $1,045,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Pallas Capital Advisors LLC grew its stake in shares of Medpace by 179.7% during the 4th quarter. Pallas Capital Advisors LLC now owns 3,270 shares of the company’s stock valued at $1,086,000 after acquiring an additional 2,101 shares during the period. Baillie Gifford & Co. boosted its position in shares of Medpace by 175.6% in the third quarter. Baillie Gifford & Co. now owns 14,876 shares of the company’s stock worth $4,966,000 after purchasing an additional 9,478 shares during the period. Barclays PLC increased its stake in shares of Medpace by 71.9% in the third quarter. Barclays PLC now owns 19,781 shares of the company’s stock worth $6,603,000 after purchasing an additional 8,275 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Medpace by 6.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 45,473 shares of the company’s stock valued at $15,179,000 after buying an additional 2,675 shares in the last quarter. Finally, CWA Asset Management Group LLC purchased a new position in shares of Medpace during the 3rd quarter valued at $1,306,000. 77.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MEDP has been the topic of a number of recent analyst reports. TD Cowen decreased their price target on Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Jefferies Financial Group cut Medpace from a “buy” rating to a “hold” rating and lowered their price target for the stock from $415.00 to $345.00 in a report on Wednesday, September 25th. Truist Financial dropped their price target on Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research note on Monday, October 14th. Robert W. Baird lifted their price objective on shares of Medpace from $349.00 to $354.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Finally, UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $420.00 to $350.00 in a research report on Friday, September 27th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $380.56.

Medpace Stock Up 3.0 %

Shares of Medpace stock opened at $347.52 on Wednesday. Medpace Holdings, Inc. has a 52-week low of $286.76 and a 52-week high of $459.77. The firm’s 50 day moving average price is $340.00 and its 200-day moving average price is $356.52. The company has a market cap of $10.80 billion, a P/E ratio of 30.43, a PEG ratio of 1.73 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, October 21st. The company reported $3.01 earnings per share (EPS) 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 business had revenue of $533.32 million for the quarter, compared to the consensus estimate of $540.99 million. During the same period in the prior year, the firm posted $2.22 earnings per share. The business’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, equities research analysts forecast that Medpace Holdings, Inc. will post 11.93 EPS for the current fiscal year.

Medpace Profile

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.