Russell Investments Group Ltd. boosted its stake in Medpace Holdings Inc (NASDAQ:MEDP) by 21.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 132,492 shares of the company’s stock after purchasing an additional 22,978 shares during the quarter. Russell Investments Group Ltd. owned about 0.37% of Medpace worth $9,779,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Sandy Spring Bank acquired a new position in Medpace during the first quarter valued at approximately $65,000. Exchange Traded Concepts LLC acquired a new position in Medpace during the fourth quarter valued at approximately $80,000. Allred Capital Management LLC acquired a new position in Medpace during the first quarter valued at approximately $87,000. Marshall Wace LLP acquired a new position in Medpace during the first quarter valued at approximately $99,000. Finally, Nisa Investment Advisors LLC lifted its position in Medpace by 12.1% during the first quarter. Nisa Investment Advisors LLC now owns 2,185 shares of the company’s stock valued at $160,000 after buying an additional 235 shares in the last quarter. Hedge funds and other institutional investors own 80.98% of the company’s stock.
A number of research analysts have weighed in on MEDP shares. Zacks Investment Research raised shares of Medpace from a “sell” rating to a “hold” rating in a research report on Wednesday. CSFB lifted their price target on shares of Medpace from $91.00 to $99.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th. Robert W. Baird cut shares of Medpace from a “neutral” rating to an “underperform” rating and set a $77.00 target price on the stock. in a research report on Monday, April 20th. Credit Suisse Group reduced their target price on shares of Medpace from $105.00 to $92.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Finally, BidaskClub cut shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, March 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Medpace presently has an average rating of “Hold” and a consensus price target of $90.29.
Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.01). The company had revenue of $230.88 million during the quarter, compared to analyst estimates of $226.23 million. Medpace had a net margin of 12.37% and a return on equity of 16.96%. The company’s revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 earnings per share. On average, research analysts expect that Medpace Holdings Inc will post 2.39 EPS for the current fiscal year.
Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in a range of therapeutic areas.
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