Ashton Thomas Securities LLC Makes New $37,000 Investment in Medpace Holdings, Inc. (NASDAQ:MEDP)

Ashton Thomas Securities LLC bought a new position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) during the third quarter, Holdings Channel.com reports. The firm bought 112 shares of the company’s stock, valued at approximately $37,000.

Several other institutional investors have also recently made changes to their positions in the company. Meritage Portfolio Management boosted its position in shares of Medpace by 11.1% during the third quarter. Meritage Portfolio Management now owns 3,069 shares of the company’s stock valued at $1,024,000 after purchasing an additional 306 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Medpace by 29.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 7,828 shares of the company’s stock valued at $2,613,000 after buying an additional 1,793 shares in the last quarter. Verdence Capital Advisors LLC bought a new stake in shares of Medpace during the 3rd quarter valued at $299,000. CWA Asset Management Group LLC purchased a new stake in shares of Medpace in the 3rd quarter worth about $1,306,000. Finally, Equitable Trust Co. increased its stake in shares of Medpace by 19.2% in the 3rd quarter. Equitable Trust Co. now owns 2,757 shares of the company’s stock worth $920,000 after acquiring an additional 444 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.

Medpace Trading Up 0.3 %

Shares of NASDAQ:MEDP opened at $361.94 on Thursday. Medpace Holdings, Inc. has a 12-month low of $268.80 and a 12-month high of $459.77. The company has a market cap of $11.25 billion, a PE ratio of 31.79, a price-to-earnings-growth ratio of 2.00 and a beta of 1.37. The stock has a 50 day moving average of $341.97 and a 200 day moving average of $376.72.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, October 21st. The company reported $3.01 EPS for the quarter, beating the consensus estimate of $2.77 by $0.24. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The firm had revenue of $533.32 million for the quarter, compared to the consensus estimate of $540.99 million. During the same period last year, the firm earned $2.22 EPS. The company’s revenue was up 8.3% on a year-over-year basis. Equities research analysts predict that Medpace Holdings, Inc. will post 11.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MEDP has been the topic of several research reports. StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Guggenheim cut their price target on Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Truist Financial lowered their price objective on Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a research note on Monday, October 14th. William Blair reissued an “outperform” rating on shares of Medpace in a report on Tuesday, October 22nd. Finally, Baird R W downgraded shares of Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.