Dimensional Fund Advisors LP raised its stake in Medpace Holdings Inc (NASDAQ:MEDP) by 11.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 359,424 shares of the company’s stock after buying an additional 36,176 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Medpace were worth $21,532,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of MEDP. BlackRock Inc. lifted its position in Medpace by 42.1% in the third quarter. BlackRock Inc. now owns 2,282,063 shares of the company’s stock valued at $136,719,000 after buying an additional 676,396 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Medpace during the third quarter worth about $17,256,000. Bank of New York Mellon Corp lifted its position in shares of Medpace by 282.3% during the third quarter. Bank of New York Mellon Corp now owns 326,241 shares of the company’s stock worth $19,545,000 after purchasing an additional 240,900 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Medpace by 208.9% during the second quarter. Renaissance Technologies LLC now owns 338,900 shares of the company’s stock worth $14,573,000 after purchasing an additional 229,200 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Medpace by 585.7% during the second quarter. Bank of America Corp DE now owns 248,982 shares of the company’s stock worth $10,706,000 after purchasing an additional 212,673 shares in the last quarter. 67.54% of the stock is currently owned by institutional investors.
MEDP has been the topic of several research reports. BidaskClub cut shares of Medpace from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 18th. ValuEngine raised shares of Medpace from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research raised shares of Medpace from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Thursday, November 1st. Finally, SunTrust Banks raised shares of Medpace from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Wednesday, October 31st. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Medpace has a consensus rating of “Buy” and a consensus price target of $44.43.
Medpace (NASDAQ:MEDP) last issued its earnings results on Thursday, November 1st. The company reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.04. The firm had revenue of $179.00 million for the quarter, compared to analysts’ expectations of $175.07 million. Medpace had a net margin of 10.84% and a return on equity of 15.86%. The firm’s revenue was up 44.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 earnings per share. As a group, analysts predict that Medpace Holdings Inc will post 2.51 earnings per share for the current fiscal year.
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Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in a range of therapeutic areas.
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