Thrivent Financial for Lutherans Buys 5,484 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Thrivent Financial for Lutherans boosted its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 61.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,430 shares of the company’s stock after acquiring an additional 5,484 shares during the period. Thrivent Financial for Lutherans’ holdings in Medpace were worth $4,817,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. DT Investment Partners LLC bought a new stake in shares of Medpace in the 2nd quarter valued at $41,000. Ashton Thomas Securities LLC acquired a new position in Medpace in the third quarter valued at $37,000. Ashton Thomas Private Wealth LLC bought a new stake in Medpace during the second quarter valued at $52,000. EntryPoint Capital LLC acquired a new stake in Medpace during the 1st quarter worth about $54,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Medpace in the 3rd quarter worth about $46,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Price Performance

NASDAQ:MEDP opened at $337.75 on Friday. Medpace Holdings, Inc. has a one year low of $268.80 and a one year high of $459.77. The company has a market cap of $10.50 billion, a PE ratio of 29.58, a PEG ratio of 1.89 and a beta of 1.37. The firm has a 50-day moving average of $340.14 and a 200-day moving average of $373.33.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, October 21st. The company reported $3.01 EPS 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 the consensus estimate of $540.99 million. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.22 earnings per share. On average, equities research analysts expect that Medpace Holdings, Inc. will post 11.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on MEDP. Truist Financial decreased their target price 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 lowered shares of Medpace from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $413.00 to $349.00 in a research note on Wednesday, October 23rd. William Blair reissued an “outperform” rating on shares of Medpace in a research note on Tuesday, October 22nd. Baird R W downgraded shares of Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, TD Cowen cut their price objective on shares of Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Medpace presently has an average rating of “Hold” and an average price target of $380.00.

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.