Seaport Global Advisors LLC Makes New Investment in Medpace Holdings, Inc. (NASDAQ:MEDP)

Seaport Global Advisors LLC acquired a new stake in Medpace Holdings, Inc. (NASDAQ:MEDP) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,421 shares of the company’s stock, valued at approximately $585,000. Medpace accounts for 2.1% of Seaport Global Advisors LLC’s holdings, making the stock its 21st biggest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rise Advisors LLC purchased a new stake in shares of Medpace in the 1st quarter valued at approximately $27,000. Mather Group LLC. purchased a new position in Medpace in the first quarter valued at $28,000. Fidelis Capital Partners LLC acquired a new stake in Medpace in the first quarter valued at $31,000. J.Safra Asset Management Corp lifted its holdings in Medpace by 87.0% during the 1st quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock worth $41,000 after buying an additional 47 shares during the last quarter. Finally, DT Investment Partners LLC acquired a new position in shares of Medpace during the 2nd quarter worth about $41,000. 77.98% of the stock is owned by institutional investors and hedge funds.

Medpace Stock Performance

Shares of MEDP opened at $331.44 on Monday. Medpace Holdings, Inc. has a fifty-two week low of $227.21 and a fifty-two week high of $459.77. The firm has a 50-day simple moving average of $368.39 and a 200-day simple moving average of $389.57. The company has a market capitalization of $10.27 billion, a price-to-earnings ratio of 33.79, a price-to-earnings-growth ratio of 1.88 and a beta of 1.35.

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

Analyst Upgrades and Downgrades

MEDP has been the topic of several research analyst reports. Robert W. Baird cut their target price on Medpace from $430.00 to $413.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. UBS Group downgraded shares of Medpace from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $420.00 to $350.00 in a research report on Friday. Truist Financial started coverage on shares of Medpace in a research report on Thursday, August 1st. They issued a “hold” rating and a $415.00 target price on the stock. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday. Finally, TD Cowen dropped their price objective on Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $395.00.

Medpace Company 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.