Delap Wealth Advisory LLC Increases Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Delap Wealth Advisory LLC lifted its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 62.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,521 shares of the company’s stock after purchasing an additional 585 shares during the period. Delap Wealth Advisory LLC’s holdings in Medpace were worth $626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of MEDP. Ensign Peak Advisors Inc lifted its stake in shares of Medpace by 167.7% in the 2nd quarter. Ensign Peak Advisors Inc now owns 35,823 shares of the company’s stock worth $14,754,000 after purchasing an additional 22,441 shares during the period. Thrivent Financial for Lutherans increased its holdings in Medpace by 44.2% during the second quarter. Thrivent Financial for Lutherans now owns 8,946 shares of the company’s stock valued at $3,685,000 after buying an additional 2,741 shares during the last quarter. Pacer Advisors Inc. raised its position in Medpace by 182.4% in the second quarter. Pacer Advisors Inc. now owns 13,968 shares of the company’s stock worth $5,753,000 after acquiring an additional 9,022 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Medpace by 56.2% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 139,849 shares of the company’s stock worth $57,611,000 after acquiring an additional 50,302 shares during the last quarter. Finally, Davidson Capital Management Inc. grew its position in shares of Medpace by 4.6% during the 2nd quarter. Davidson Capital Management Inc. now owns 7,764 shares of the company’s stock valued at $3,198,000 after acquiring an additional 340 shares during the period. Institutional investors own 77.98% of the company’s stock.

Medpace Stock Performance

MEDP stock opened at $365.70 on Friday. The company’s fifty day moving average price is $378.15 and its 200-day moving average price is $391.95. Medpace Holdings, Inc. has a one year low of $227.21 and a one year high of $459.77. The company has a market capitalization of $11.33 billion, a PE ratio of 37.28, a price-to-earnings-growth ratio of 1.74 and a beta of 1.35.

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. TD Cowen decreased their target price on Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. William Blair reaffirmed an “outperform” rating on shares of Medpace in a research report on Wednesday, September 11th. Mizuho started coverage on Medpace in a research note on Tuesday, May 28th. They set a “buy” rating and a $435.00 price objective for the company. Robert W. Baird decreased their target price on shares of Medpace from $430.00 to $413.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Truist Financial initiated coverage on shares of Medpace in a research report on Thursday, August 1st. They issued a “hold” rating and a $415.00 price target for the company. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Medpace presently has an average rating of “Moderate Buy” and an average price target of $420.88.

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.