Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Bought by Clearbridge Investments LLC

Clearbridge Investments LLC lifted its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 55.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 403,892 shares of the company’s stock after buying an additional 143,481 shares during the period. Clearbridge Investments LLC owned approximately 1.30% of Medpace worth $166,343,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Cetera Investment Advisers lifted its position in Medpace by 2.3% during the 2nd quarter. Cetera Investment Advisers now owns 11,757 shares of the company’s stock worth $4,842,000 after acquiring an additional 263 shares during the period. Truist Financial Corp raised its stake in shares of Medpace by 21.2% during the second quarter. Truist Financial Corp now owns 3,700 shares of the company’s stock worth $1,524,000 after purchasing an additional 648 shares during the last quarter. Chase Investment Counsel Corp lifted its holdings in shares of Medpace by 2.6% during the second quarter. Chase Investment Counsel Corp now owns 9,012 shares of the company’s stock worth $3,711,000 after purchasing an additional 231 shares during the period. Seaport Global Advisors LLC acquired a new stake in shares of Medpace during the second quarter worth $585,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Medpace by 95.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 225 shares of the company’s stock valued at $93,000 after buying an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Price Performance

MEDP opened at $333.45 on Wednesday. Medpace Holdings, Inc. has a 1-year low of $227.21 and a 1-year high of $459.77. The stock has a market cap of $10.33 billion, a P/E ratio of 33.99, a P/E/G ratio of 1.88 and a beta of 1.35. The stock’s 50 day simple moving average is $365.85 and its 200 day simple moving average is $388.49.

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

Analyst Ratings Changes

MEDP has been the subject of several recent analyst reports. Robert W. Baird reduced their target price on shares of Medpace from $430.00 to $413.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft reduced 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. UBS Group cut Medpace from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $420.00 to $350.00 in a research report on Friday, September 27th. Truist Financial assumed coverage on Medpace in a report on Thursday, August 1st. They issued a “hold” rating and a $415.00 price target for the company. Finally, Jefferies Financial Group lowered Medpace from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $415.00 to $345.00 in a report on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $395.00.

Medpace 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.