Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. grew its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 95.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 225 shares of the company’s stock after acquiring an additional 110 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Medpace were worth $93,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MEDP. Signaturefd LLC increased its position in shares of Medpace by 4.9% in the second quarter. Signaturefd LLC now owns 559 shares of the company’s stock worth $230,000 after acquiring an additional 26 shares in the last quarter. Wealth Alliance boosted its holdings in Medpace by 2.9% in the 2nd quarter. Wealth Alliance now owns 970 shares of the company’s stock worth $399,000 after acquiring an additional 27 shares during the period. Commonwealth Equity Services LLC grew its position in Medpace by 0.7% in the second quarter. Commonwealth Equity Services LLC now owns 4,340 shares of the company’s stock valued at $1,787,000 after acquiring an additional 32 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Medpace by 5.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 781 shares of the company’s stock worth $316,000 after purchasing an additional 39 shares in the last quarter. Finally, Journey Advisory Group LLC grew its holdings in Medpace by 1.9% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MEDP. Jefferies Financial Group downgraded Medpace from a “buy” rating to a “hold” rating and lowered their target price for the company from $415.00 to $345.00 in a research note on Wednesday, September 25th. Truist Financial started coverage on Medpace in a research report on Thursday, August 1st. They issued a “hold” rating and a $415.00 target price on the stock. UBS Group cut shares of Medpace from a “buy” rating to a “neutral” rating and cut their price target for the company from $420.00 to $350.00 in a report on Friday, September 27th. Robert W. Baird decreased their price objective on shares of Medpace from $430.00 to $413.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $395.00.

Medpace Trading Up 0.9 %

NASDAQ:MEDP opened at $347.91 on Friday. The stock has a 50 day moving average of $359.84 and a 200-day moving average of $385.68. The firm has a market capitalization of $10.79 billion, a PE ratio of 32.83, a price-to-earnings-growth ratio of 1.77 and a beta of 1.35. Medpace Holdings, Inc. has a 52 week low of $227.21 and a 52 week high of $459.77.

Medpace (NASDAQ:MEDP) last posted its 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. The firm had revenue of $528.10 million during the quarter, compared to analysts’ expectations of $528.41 million. Medpace had a net margin of 16.74% and a return on equity of 55.14%. Medpace’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.93 EPS. As a group, analysts predict that Medpace Holdings, Inc. will post 11.64 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.