62,432 Shares in Medpace Holdings, Inc. (NASDAQ:MEDP) Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. acquired a new position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 62,432 shares of the company’s stock, valued at approximately $25,713,000. Point72 Asset Management L.P. owned approximately 0.20% of Medpace as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Signaturefd LLC grew its holdings in shares of Medpace by 4.9% during the second quarter. Signaturefd LLC now owns 559 shares of the company’s stock worth $230,000 after buying an additional 26 shares in the last quarter. Wealth Alliance grew its holdings in shares of Medpace by 2.9% during the second quarter. Wealth Alliance now owns 970 shares of the company’s stock worth $399,000 after buying an additional 27 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in Medpace by 0.7% during the second quarter. Commonwealth Equity Services LLC now owns 4,340 shares of the company’s stock valued at $1,787,000 after purchasing an additional 32 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in Medpace by 5.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 781 shares of the company’s stock valued at $316,000 after purchasing an additional 39 shares during the last quarter. Finally, Journey Advisory Group LLC boosted its position in Medpace by 1.9% during 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. 77.98% of the stock is currently owned by institutional investors.

Medpace Trading Up 1.8 %

Shares of NASDAQ MEDP opened at $326.26 on Friday. The firm has a market cap of $10.11 billion, a P/E ratio of 33.26, a price-to-earnings-growth ratio of 1.88 and a beta of 1.35. Medpace Holdings, Inc. has a 1-year low of $227.21 and a 1-year high of $459.77. The business’s 50 day moving average is $372.14 and its 200-day moving average is $390.64.

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

Analyst Ratings Changes

Several research analysts recently commented on the company. StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a research report on Friday. Jefferies Financial Group cut Medpace from a “buy” rating to a “hold” rating and reduced their price target for the company from $415.00 to $345.00 in a research report on Wednesday. William Blair reissued an “outperform” rating on shares of Medpace in a research report on Wednesday, September 11th. Robert W. Baird reduced their price target on Medpace from $430.00 to $413.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $407.75.

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.