Holocene Advisors LP Has $2.60 Million Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Holocene Advisors LP lowered its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 18.3% during the third quarter, Holdings Channel reports. The fund owned 7,802 shares of the company’s stock after selling 1,742 shares during the quarter. Holocene Advisors LP’s holdings in Medpace were worth $2,604,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in MEDP. Tidal Investments LLC raised its stake in Medpace by 16.2% during the 1st quarter. Tidal Investments LLC now owns 874 shares of the company’s stock valued at $353,000 after purchasing an additional 122 shares during the period. Cetera Investment Advisers grew its holdings in shares of Medpace by 235.0% during the first quarter. Cetera Investment Advisers now owns 11,494 shares of the company’s stock valued at $4,645,000 after buying an additional 8,063 shares in the last quarter. Cetera Advisors LLC raised its position in Medpace by 162.4% during the first quarter. Cetera Advisors LLC now owns 2,608 shares of the company’s stock valued at $1,054,000 after buying an additional 1,614 shares during the period. GAMMA Investing LLC lifted its stake in Medpace by 58.4% in the 2nd quarter. GAMMA Investing LLC now owns 236 shares of the company’s stock worth $97,000 after acquiring an additional 87 shares in the last quarter. Finally, CWM LLC boosted its position in Medpace by 38.8% during the 2nd quarter. CWM LLC now owns 2,323 shares of the company’s stock worth $957,000 after acquiring an additional 649 shares during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Price Performance

NASDAQ MEDP opened at $342.30 on Friday. Medpace Holdings, Inc. has a fifty-two week low of $277.72 and a fifty-two week high of $459.77. The stock’s 50-day moving average is $337.93 and its two-hundred day moving average is $369.88. The firm has a market cap of $10.64 billion, a P/E ratio of 29.97, a price-to-earnings-growth ratio of 1.88 and a beta of 1.37.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.24. The firm had revenue of $533.32 million during the quarter, compared to analyst estimates of $540.99 million. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.22 EPS. On average, equities analysts expect that Medpace Holdings, Inc. will post 11.93 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MEDP shares. Truist Financial reduced their price target on shares of Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research report on Monday, October 14th. TD Cowen cut their target price on shares of Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Robert W. Baird boosted their price target on shares of Medpace from $349.00 to $354.00 and gave the company a “neutral” rating in a report on Monday, November 25th. StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Finally, Baird R W cut 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $380.56.

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.