Empowered Funds LLC Raises Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Empowered Funds LLC increased its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 32.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 8,693 shares of the company’s stock after purchasing an additional 2,130 shares during the quarter. Empowered Funds LLC’s holdings in Medpace were worth $2,888,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB increased its position in Medpace by 46.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 767 shares of the company’s stock valued at $255,000 after acquiring an additional 242 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Medpace during the fourth quarter valued at approximately $532,000. Financial Advocates Investment Management purchased a new stake in shares of Medpace in the fourth quarter valued at approximately $423,000. Meritage Portfolio Management grew its stake in Medpace by 4.6% in the fourth quarter. Meritage Portfolio Management now owns 3,211 shares of the company’s stock worth $1,067,000 after purchasing an additional 142 shares in the last quarter. Finally, Alliance Wealth Advisors LLC UT increased its holdings in Medpace by 6.6% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 2,734 shares of the company’s stock worth $908,000 after purchasing an additional 170 shares during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Trading Up 1.8 %

Shares of MEDP stock opened at $342.41 on Friday. Medpace Holdings, Inc. has a 12-month low of $302.01 and a 12-month high of $459.77. The business’s fifty day simple moving average is $343.70 and its 200-day simple moving average is $348.88. The company has a market cap of $10.64 billion, a PE ratio of 29.98, a PEG ratio of 1.85 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, February 10th. The company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $2.96 by $0.71. Medpace had a return on equity of 50.87% and a net margin of 17.66%. On average, equities analysts forecast that Medpace Holdings, Inc. will post 11.93 earnings per share for the current year.

Wall Street Analyst Weigh In

MEDP has been the topic of several research reports. Baird R W lowered Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Robert W. Baird raised their target price on shares of Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. William Blair reaffirmed an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. 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 report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $381.44.

Medpace Company Profile

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.