Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Acquired by Joseph Group Capital Management

Joseph Group Capital Management lifted its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 12.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,525 shares of the company’s stock after acquiring an additional 275 shares during the period. Joseph Group Capital Management’s holdings in Medpace were worth $1,040,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MEDP. Vanguard Group Inc. lifted its stake in Medpace by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock valued at $783,626,000 after acquiring an additional 142,591 shares during the last quarter. TD Asset Management Inc increased its position in shares of Medpace by 22.9% during the first quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock valued at $232,042,000 after purchasing an additional 107,108 shares during the period. Renaissance Technologies LLC raised its stake in shares of Medpace by 38.3% in the 2nd quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock valued at $182,692,000 after buying an additional 122,800 shares in the last quarter. Epoch Investment Partners Inc. lifted its stake in Medpace by 15.3% during the first quarter. Epoch Investment Partners Inc. now owns 406,446 shares of the company’s stock worth $164,265,000 after purchasing an additional 53,983 shares during the period. Finally, Bessemer Group Inc. boosted its stake in Medpace by 1.6% in the 1st quarter. Bessemer Group Inc. now owns 394,834 shares of the company’s stock valued at $159,572,000 after buying an additional 6,137 shares in the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

Medpace Trading Up 2.2 %

Medpace stock opened at $369.18 on Friday. Medpace Holdings, Inc. has a 1-year low of $227.21 and a 1-year high of $459.77. The company has a fifty day simple moving average of $379.70 and a 200 day simple moving average of $392.28. The company has a market cap of $11.44 billion, a P/E ratio of 37.63, a price-to-earnings-growth ratio of 1.74 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $528.41 million. During the same period last year, the company earned $1.93 earnings per share. The business’s revenue was up 14.6% compared to the same quarter last year. On average, equities research analysts forecast that Medpace Holdings, Inc. will post 11.66 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on MEDP shares. Robert W. Baird reduced their price objective on Medpace from $469.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Mizuho assumed coverage on Medpace in a report on Tuesday, May 28th. They issued a “buy” rating and a $435.00 price objective for the company. Guggenheim cut their target price on shares of Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft dropped their price target on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Finally, Truist Financial started coverage on shares of Medpace in a report on Thursday, August 1st. They set a “hold” rating and a $415.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Medpace 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.