Seven Eight Capital LP Has $2.02 Million Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Seven Eight Capital LP reduced its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 29.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,906 shares of the company’s stock after selling 2,009 shares during the period. Seven Eight Capital LP’s holdings in Medpace were worth $2,021,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rise Advisors LLC bought a new stake in shares of Medpace in the first quarter valued at about $27,000. Mather Group LLC. bought a new stake in shares of Medpace in the first quarter valued at about $28,000. Fidelis Capital Partners LLC bought a new stake in shares of Medpace in the first quarter valued at about $31,000. J.Safra Asset Management Corp boosted its position 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 valued at $41,000 after acquiring an additional 47 shares during the period. Finally, DT Investment Partners LLC bought a new stake in shares of Medpace in the second quarter valued at about $41,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MEDP shares. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research report on Wednesday. TD Cowen reduced their target price on shares of Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Guggenheim reduced their target price on shares of Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. William Blair reaffirmed an “outperform” rating on shares of Medpace in a research report on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Medpace has an average rating of “Moderate Buy” and an average price target of $423.00.

Medpace Trading Up 1.9 %

MEDP stock opened at $361.29 on Thursday. The stock has a market capitalization of $11.19 billion, a P/E ratio of 36.83, a price-to-earnings-growth ratio of 1.74 and a beta of 1.36. Medpace Holdings, Inc. has a 12 month low of $227.21 and a 12 month high of $459.77. The firm has a 50-day moving average price of $381.01 and a 200-day moving average price of $392.44.

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

Medpace Company Profile

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.