Inspire Investing LLC Sells 62 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Inspire Investing LLC cut its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 6.8% in the second quarter, HoldingsChannel reports. The firm owned 848 shares of the company’s stock after selling 62 shares during the period. Inspire Investing LLC’s holdings in Medpace were worth $349,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Blair William & Co. IL raised its stake in shares of Medpace by 4.0% in the 2nd quarter. Blair William & Co. IL now owns 25,855 shares of the company’s stock valued at $10,648,000 after acquiring an additional 1,004 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Medpace by 20.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,036 shares of the company’s stock worth $1,250,000 after acquiring an additional 508 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Medpace by 8.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 11,666 shares of the company’s stock valued at $4,850,000 after acquiring an additional 949 shares during the period. Wealth Alliance grew its holdings in Medpace by 2.9% in the 2nd quarter. Wealth Alliance now owns 970 shares of the company’s stock valued at $399,000 after buying an additional 27 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of Medpace in the second quarter worth $5,383,000. 77.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MEDP has been the topic of several research analyst reports. 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 on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. TD Cowen decreased their price target on shares of Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. William Blair reaffirmed an “outperform” rating on shares of Medpace in a report on Wednesday, September 11th. Finally, Guggenheim lowered their target price on shares of Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $420.88.

Medpace Stock Performance

Shares of NASDAQ:MEDP opened at $361.95 on Tuesday. The business has a fifty day moving average of $376.50 and a 200-day moving average of $391.48. The firm has a market cap of $11.21 billion, a PE ratio of 36.90, a price-to-earnings-growth ratio of 1.74 and a beta of 1.35. Medpace Holdings, Inc. has a twelve month low of $227.21 and a twelve month high of $459.77.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, July 22nd. The company reported $2.75 EPS for the quarter, beating 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 period in the prior year, the firm earned $1.93 earnings per share. Medpace’s revenue was up 14.6% compared to the same quarter last year. On average, analysts anticipate that Medpace Holdings, Inc. will post 11.66 EPS for the current fiscal 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.