Citadel Advisors LLC lifted its stake in Medpace Holdings Inc (NASDAQ:MEDP) by 219.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,133 shares of the company’s stock after purchasing an additional 15,213 shares during the quarter. Citadel Advisors LLC owned 0.06% of Medpace worth $706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Quadrant L P CA purchased a new stake in shares of Medpace in the third quarter worth approximately $119,000. Susquehanna International Group LLP bought a new position in Medpace during the second quarter valued at approximately $220,000. Credit Suisse AG bought a new position in Medpace during the first quarter valued at approximately $231,000. Rhumbline Advisers raised its position in Medpace by 13.3% during the second quarter. Rhumbline Advisers now owns 9,726 shares of the company’s stock valued at $282,000 after acquiring an additional 1,140 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in Medpace during the second quarter valued at approximately $299,000. 16.80% of the stock is owned by institutional investors and hedge funds.
In other Medpace news, major shareholder Medpace Limited Partnership sold 4,600,000 shares of the stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $30.16, for a total transaction of $138,736,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 25.80% of the company’s stock.
Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, October 30th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. Medpace had a return on equity of 10.00% and a net margin of 6.44%. The company had revenue of $98.68 million for the quarter, compared to the consensus estimate of $96.84 million. During the same quarter last year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. equities analysts expect that Medpace Holdings Inc will post 1.5 EPS for the current year.
Several equities analysts recently weighed in on MEDP shares. Zacks Investment Research lowered shares of Medpace from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. BidaskClub lowered shares of Medpace from a “hold” rating to a “sell” rating in a research report on Tuesday, December 5th. Raymond James Financial started coverage on shares of Medpace in a research report on Friday, September 29th. They set a “market perform” rating on the stock. William Blair lowered shares of Medpace from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 1st. They noted that the move was a valuation call. Finally, Jefferies Group raised their price objective on shares of Medpace from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Medpace presently has an average rating of “Hold” and an average target price of $36.60.
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Medpace Holdings, Inc is a clinical contract research organization. The Company provides clinical research-based drug and medical device development services. The Company partners with pharmaceutical, biotechnology, and medical device companies in the development and execution of clinical trials. The Company’s drug development services focus on full service Phase I-IV clinical development services and include 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.
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