Systematic Financial Management LP lessened its stake in Medpace Holdings Inc (NASDAQ:MEDP) by 30.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,790 shares of the company’s stock after selling 6,955 shares during the quarter. Systematic Financial Management LP’s holdings in Medpace were worth $1,033,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall Wace LLP acquired a new position in shares of Medpace in the 1st quarter valued at $99,000. LS Investment Advisors LLC lifted its holdings in shares of Medpace by 215.5% during the 1st quarter. LS Investment Advisors LLC now owns 2,745 shares of the company’s stock valued at $162,000 after acquiring an additional 1,875 shares in the last quarter. South Dakota Investment Council acquired a new position in shares of Medpace during the 1st quarter valued at $189,000. Qtron Investments LLC acquired a new position in shares of Medpace during the 1st quarter valued at $218,000. Finally, Royce & Associates LP acquired a new position in shares of Medpace during the 1st quarter valued at $236,000. Institutional investors own 77.39% of the company’s stock.
MEDP has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Medpace from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Wednesday, July 10th. SunTrust Banks lifted their target price on shares of Medpace to $85.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Credit Suisse Group lifted their target price on shares of Medpace from $65.00 to $77.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. TheStreet upgraded shares of Medpace from a “c” rating to a “b-” rating in a report on Thursday, June 6th. Finally, ValuEngine upgraded shares of Medpace from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $73.75.
Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, July 29th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.18. Medpace had a net margin of 11.28% and a return on equity of 17.65%. The firm had revenue of $214.10 million for the quarter, compared to the consensus estimate of $200.99 million. During the same quarter in the previous year, the firm posted $0.61 EPS. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. On average, equities research analysts forecast that Medpace Holdings Inc will post 2.91 EPS for the current fiscal year.
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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