Citadel Advisors LLC reduced its holdings in Medpace Holdings Inc (NASDAQ:MEDP) by 61.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,618 shares of the company’s stock after selling 13,515 shares during the period. Citadel Advisors LLC’s holdings in Medpace were worth $312,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in MEDP. Susquehanna International Group LLP raised its holdings in Medpace by 30.9% in the third quarter. Susquehanna International Group LLP now owns 9,947 shares of the company’s stock worth $317,000 after purchasing an additional 2,347 shares during the period. Convergence Investment Partners LLC raised its holdings in Medpace by 13.4% in the third quarter. Convergence Investment Partners LLC now owns 24,819 shares of the company’s stock worth $792,000 after purchasing an additional 2,940 shares during the period. Wells Fargo & Company MN raised its holdings in Medpace by 42.8% in the third quarter. Wells Fargo & Company MN now owns 10,354 shares of the company’s stock worth $330,000 after purchasing an additional 3,104 shares during the period. SG Americas Securities LLC acquired a new stake in Medpace in the fourth quarter worth $151,000. Finally, State Street Corp raised its holdings in Medpace by 4.1% in the second quarter. State Street Corp now owns 132,731 shares of the company’s stock worth $3,853,000 after purchasing an additional 5,209 shares during the period. Institutional investors and hedge funds own 23.60% of the company’s stock.
A number of brokerages recently commented on MEDP. Zacks Investment Research lowered shares of Medpace from a “buy” rating to a “hold” rating in a report on Wednesday. Credit Suisse Group restated an “outperform” rating and set a $42.00 price objective (up from $41.00) on shares of Medpace in a report on Tuesday, February 27th. BidaskClub upgraded shares of Medpace from a “hold” rating to a “buy” rating in a report on Thursday, December 14th. Jefferies Group restated a “hold” rating and set a $35.00 price objective on shares of Medpace in a report on Thursday, March 1st. Finally, Wells Fargo & Co dropped their price objective on shares of Medpace from $38.00 to $35.00 and set a “market perform” rating on the stock in a report on Wednesday, February 28th. Eight investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $36.83.
Medpace (NASDAQ:MEDP) last released its earnings results on Monday, February 26th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $99.45 million during the quarter, compared to the consensus estimate of $97.25 million. Medpace had a net margin of 8.97% and a return on equity of 10.55%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 earnings per share. equities analysts forecast that Medpace Holdings Inc will post 1.88 EPS for the current year.
Medpace Company Profile
Medpace Holdings, Inc is a clinical contract research organization. The Company provides clinical research-based drug and medical device development services. The Company partners with pharmaceutical, biotechnology, and medical device companies in the development and execution of clinical trials. The Company’s drug development services focus on full service Phase I-IV clinical development services and include 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.
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