Pendal Group Ltd Acquires 54,267 Shares of Medpace Holdings Inc (NASDAQ:MEDP)
Pendal Group Ltd raised its holdings in shares of Medpace Holdings Inc (NASDAQ:MEDP) by 3.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,536,596 shares of the company’s stock after purchasing an additional 54,267 shares during the quarter. Medpace accounts for about 1.2% of Pendal Group Ltd’s portfolio, making the stock its 17th largest position. Pendal Group Ltd’s holdings in Medpace were worth $88,151,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in shares of Medpace by 42.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 406,004 shares of the company’s stock worth $23,942,000 after acquiring an additional 120,340 shares during the last quarter. Marshall Wace North America L.P. lifted its holdings in shares of Medpace by 643.4% in the 1st quarter. Marshall Wace North America L.P. now owns 5,449 shares of the company’s stock worth $321,000 after acquiring an additional 4,716 shares during the last quarter. Norges Bank bought a new stake in shares of Medpace in the 4th quarter worth about $8,004,000. Norris Perne & French LLP MI bought a new stake in shares of Medpace in the 1st quarter worth about $6,470,000. Finally, Piedmont Investment Advisors Inc. lifted its holdings in shares of Medpace by 5.1% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 6,405 shares of the company’s stock worth $378,000 after acquiring an additional 312 shares during the last quarter. Institutional investors and hedge funds own 76.98% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Medpace from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Zacks Investment Research raised shares of Medpace from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Wednesday, July 10th. TheStreet raised shares of Medpace from a “c” rating to a “b-” rating in a research note on Thursday, June 6th. Robert W. Baird raised their price target on shares of Medpace from $57.00 to $62.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 30th. Finally, BidaskClub raised shares of Medpace from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 3rd. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $73.75.
Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.18. The company had revenue of $214.10 million for the quarter, compared to the consensus estimate of $200.99 million. Medpace had a net margin of 11.28% and a return on equity of 17.65%. The firm’s revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.61 EPS. As a group, analysts anticipate that Medpace Holdings Inc will post 2.91 earnings per share for the current year.
Medpace Company Profile
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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