Principal Financial Group Inc. raised its position in Medpace Holdings, Inc. (NASDAQ:MEDP – Get Rating) by 7.2% during the second quarter, HoldingsChannel.com reports. The firm owned 107,476 shares of the company’s stock after purchasing an additional 7,234 shares during the period. Principal Financial Group Inc.’s holdings in Medpace were worth $16,086,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Medpace by 0.9% in the 1st quarter. BlackRock Inc. now owns 3,792,694 shares of the company’s stock worth $620,448,000 after purchasing an additional 35,121 shares during the period. Wasatch Advisors Inc. raised its position in Medpace by 12.1% in the 1st quarter. Wasatch Advisors Inc. now owns 2,728,392 shares of the company’s stock worth $446,338,000 after purchasing an additional 294,103 shares during the period. State Street Corp raised its position in Medpace by 2.5% in the 1st quarter. State Street Corp now owns 899,855 shares of the company’s stock worth $147,207,000 after purchasing an additional 21,868 shares during the period. Echo Street Capital Management LLC raised its position in Medpace by 18.4% in the 1st quarter. Echo Street Capital Management LLC now owns 695,336 shares of the company’s stock worth $113,750,000 after purchasing an additional 108,133 shares during the period. Finally, Boston Trust Walden Corp raised its position in Medpace by 2.0% in the 2nd quarter. Boston Trust Walden Corp now owns 688,778 shares of the company’s stock worth $103,090,000 after purchasing an additional 13,784 shares during the period. 83.97% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
MEDP has been the topic of a number of research reports. Robert W. Baird raised their target price on shares of Medpace from $145.00 to $200.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 25th. StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, October 28th. Finally, UBS Group raised shares of Medpace from a “sell” rating to a “neutral” rating and raised their target price for the stock from $142.00 to $238.00 in a research report on Thursday, October 27th.
Medpace Stock Performance
Shares of NASDAQ:MEDP opened at $218.81 on Thursday. The firm’s 50 day simple moving average is $183.70 and its 200-day simple moving average is $163.26. Medpace Holdings, Inc. has a one year low of $126.94 and a one year high of $235.72. The firm has a market cap of $6.80 billion, a PE ratio of 33.56 and a beta of 1.47.
Medpace (NASDAQ:MEDP – Get Rating) last released its quarterly earnings data on Monday, October 24th. The company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.58. Medpace had a net margin of 16.50% and a return on equity of 41.39%. The firm had revenue of $383.74 million for the quarter, compared to the consensus estimate of $357.17 million. During the same period last year, the firm earned $1.29 earnings per share. The company’s quarterly revenue was up 29.8% on a year-over-year basis. Equities research analysts predict that Medpace Holdings, Inc. will post 6.97 EPS for the current fiscal year.
Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. It offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. The company also 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.
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