Thrivent Financial for Lutherans Increases Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Thrivent Financial for Lutherans lifted its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 44.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,946 shares of the company’s stock after buying an additional 2,741 shares during the period. Thrivent Financial for Lutherans’ holdings in Medpace were worth $3,685,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MEDP. Westwind Capital raised its position in Medpace by 800.1% in the second quarter. Westwind Capital now owns 380,929 shares of the company’s stock worth $156,886,000 after acquiring an additional 338,610 shares in the last quarter. Findlay Park Partners LLP purchased a new position in shares of Medpace in the 1st quarter valued at about $90,247,000. Clearbridge Investments LLC lifted its stake in shares of Medpace by 302.4% in the first quarter. Clearbridge Investments LLC now owns 260,411 shares of the company’s stock valued at $105,245,000 after purchasing an additional 195,698 shares during the period. Epoch Investment Partners Inc. boosted its holdings in Medpace by 82.3% during the fourth quarter. Epoch Investment Partners Inc. now owns 352,463 shares of the company’s stock worth $108,040,000 after buying an additional 159,144 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Medpace by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock worth $783,626,000 after buying an additional 142,591 shares during the period. 77.98% of the stock is owned by institutional investors and hedge funds.

Medpace Trading Up 1.6 %

Shares of MEDP stock opened at $331.44 on Friday. The company has a market capitalization of $10.27 billion, a price-to-earnings ratio of 33.79, a PEG ratio of 1.88 and a beta of 1.35. The firm has a 50-day moving average price of $368.39 and a 200 day moving average price of $389.69. Medpace Holdings, Inc. has a twelve month low of $227.21 and a twelve month high of $459.77.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The business had revenue of $528.10 million during the quarter, compared to analyst estimates of $528.41 million. During the same quarter in the previous year, the business posted $1.93 earnings per share. The company’s revenue was up 14.6% on a year-over-year basis. As a group, research analysts predict that Medpace Holdings, Inc. will post 11.66 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on MEDP. UBS Group downgraded shares of Medpace from a “buy” rating to a “neutral” rating and reduced their price target for the company from $420.00 to $350.00 in a research report on Friday. William Blair reaffirmed an “outperform” rating on shares of Medpace in a report on Wednesday, September 11th. Jefferies Financial Group downgraded Medpace from a “buy” rating to a “hold” rating and decreased their target price for the stock from $415.00 to $345.00 in a research report on Wednesday. Guggenheim cut their price target on Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Medpace currently has an average rating of “Moderate Buy” and an average target price of $395.00.

Medpace Profile

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.