Eversept Partners LP Makes New Investment in Medpace Holdings, Inc. (NASDAQ:MEDP)

Eversept Partners LP bought a new position in Medpace Holdings, Inc. (NASDAQ:MEDP) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 19,049 shares of the company’s stock, valued at approximately $6,329,000. Eversept Partners LP owned approximately 0.06% of Medpace at the end of the most recent quarter.

Several other large investors have also made changes to their positions in MEDP. Barclays PLC grew its position in Medpace by 71.9% in the third quarter. Barclays PLC now owns 19,781 shares of the company’s stock worth $6,603,000 after acquiring an additional 8,275 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Medpace during the third quarter worth $1,503,000. Wilmington Savings Fund Society FSB purchased a new stake in Medpace during the 3rd quarter worth approximately $175,000. Tidal Investments LLC lifted its holdings in shares of Medpace by 257.9% during the third quarter. Tidal Investments LLC now owns 3,654 shares of the company’s stock worth $1,220,000 after purchasing an additional 2,633 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Medpace by 19.4% in the third quarter. Franklin Resources Inc. now owns 188,141 shares of the company’s stock worth $66,508,000 after buying an additional 30,530 shares during the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Truist Financial lowered their target price on Medpace from $347.00 to $333.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. Mizuho cut their target price on Medpace from $400.00 to $355.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. TD Cowen downgraded shares of Medpace from a “buy” rating to a “hold” rating and decreased their target price for the stock from $370.00 to $328.00 in a research note on Monday, April 14th. Robert W. Baird lifted their target price on shares of Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Finally, Leerink Partners began coverage on shares of Medpace in a research note on Monday, March 24th. They set a “market perform” rating and a $330.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Medpace has an average rating of “Hold” and an average price target of $357.50.

Medpace Price Performance

MEDP opened at $288.99 on Tuesday. The company has a market capitalization of $8.74 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 3.81 and a beta of 1.46. Medpace Holdings, Inc. has a fifty-two week low of $264.95 and a fifty-two week high of $459.77. The business has a 50-day moving average of $317.57 and a 200-day moving average of $332.88.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.06 by $0.61. The firm had revenue of $558.57 million during the quarter, compared to analysts’ expectations of $528.38 million. Medpace had a net margin of 19.17% and a return on equity of 51.48%. During the same period in the previous year, the company earned $3.20 earnings per share. On average, equities research analysts expect that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

About Medpace

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.