Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Sold by Kendall Capital Management

Kendall Capital Management lessened its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 6.5% during the second quarter, HoldingsChannel reports. The fund owned 3,215 shares of the company’s stock after selling 225 shares during the period. Kendall Capital Management’s holdings in Medpace were worth $1,324,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Signaturefd LLC grew its holdings in Medpace by 4.9% during the second quarter. Signaturefd LLC now owns 559 shares of the company’s stock worth $230,000 after acquiring an additional 26 shares during the period. Wealth Alliance grew its holdings in Medpace by 2.9% during the second quarter. Wealth Alliance now owns 970 shares of the company’s stock worth $399,000 after acquiring an additional 27 shares during the period. Commonwealth Equity Services LLC grew its holdings in Medpace by 0.7% during the second quarter. Commonwealth Equity Services LLC now owns 4,340 shares of the company’s stock worth $1,787,000 after acquiring an additional 32 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in Medpace by 5.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 781 shares of the company’s stock worth $316,000 after acquiring an additional 39 shares during the period. Finally, Journey Advisory Group LLC grew its holdings in Medpace by 1.9% in the second quarter. Journey Advisory Group LLC now owns 2,390 shares of the company’s stock valued at $984,000 after purchasing an additional 44 shares during the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on MEDP. Truist Financial began coverage on Medpace in a report on Thursday, August 1st. They issued a “hold” rating and a $415.00 target price on the stock. Mizuho began coverage on Medpace in a report on Tuesday, May 28th. They issued a “buy” rating and a $435.00 target price on the stock. StockNews.com lowered Medpace from a “buy” rating to a “hold” rating in a report on Wednesday. Guggenheim lowered their target price on Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $423.00.

Medpace Trading Up 1.9 %

NASDAQ MEDP opened at $361.29 on Thursday. The business’s 50-day moving average price is $381.01 and its 200 day moving average price is $392.44. Medpace Holdings, Inc. has a twelve month low of $227.21 and a twelve month high of $459.77. The company has a market capitalization of $11.19 billion, a PE ratio of 36.83, a price-to-earnings-growth ratio of 1.74 and a beta of 1.36.

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

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.