Medpace Holdings, Inc. (NASDAQ:MEDP) Stake Reduced by Acadian Asset Management LLC

Acadian Asset Management LLC decreased its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 55.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,570 shares of the company’s stock after selling 13,375 shares during the period. Acadian Asset Management LLC’s holdings in Medpace were worth $4,347,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MEDP. Rise Advisors LLC acquired a new position in shares of Medpace in the 1st quarter worth $27,000. Mather Group LLC. acquired a new stake in Medpace during the 1st quarter worth about $28,000. Fidelis Capital Partners LLC purchased a new stake in Medpace during the first quarter valued at about $31,000. J.Safra Asset Management Corp boosted its holdings in shares of Medpace by 87.0% in the first 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 period. Finally, DT Investment Partners LLC purchased a new position in shares of Medpace in the second quarter worth approximately $41,000. Institutional investors own 77.98% of the company’s stock.

Medpace Price Performance

Shares of Medpace stock opened at $344.94 on Friday. The stock has a 50-day simple moving average of $385.29 and a 200-day simple moving average of $393.79. Medpace Holdings, Inc. has a 52-week low of $227.21 and a 52-week high of $459.77. The firm has a market cap of $10.69 billion, a price-to-earnings ratio of 35.16, a P/E/G ratio of 1.74 and a beta of 1.35.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MEDP shares. StockNews.com upgraded shares of Medpace from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. TD Cowen decreased their target price on Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Truist Financial began coverage on Medpace in a research report on Thursday, August 1st. They set a “hold” rating and a $415.00 price target on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Finally, Mizuho initiated coverage on Medpace in a report on Tuesday, May 28th. They issued a “buy” rating and a $435.00 target price on the stock. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Medpace currently has an average rating of “Moderate Buy” and a consensus price target of $423.00.

About Medpace

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.