Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp lifted its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 29.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,452 shares of the company’s stock after buying an additional 3,251 shares during the period. Van ECK Associates Corp’s holdings in Medpace were worth $5,952,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Westwind Capital raised its stake in Medpace by 800.1% in the 2nd quarter. Westwind Capital now owns 380,929 shares of the company’s stock worth $156,886,000 after acquiring an additional 338,610 shares during the last quarter. TD Asset Management Inc raised its stake in shares of Medpace by 195.2% in the fourth quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock worth $143,162,000 after purchasing an additional 308,816 shares during the last quarter. Findlay Park Partners LLP acquired a new stake in shares of Medpace during the first quarter worth about $90,247,000. Clearbridge Investments LLC lifted its holdings in shares of Medpace by 302.4% during the first quarter. Clearbridge Investments LLC now owns 260,411 shares of the company’s stock worth $105,245,000 after purchasing an additional 195,698 shares during the period. Finally, Norges Bank purchased a new stake in Medpace in the fourth quarter valued at approximately $59,163,000. 77.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MEDP has been the subject of a number of recent research reports. Truist Financial initiated coverage on shares of Medpace in a research report on Thursday, August 1st. They set a “hold” rating and a $415.00 price target for the company. TD Cowen reduced their target price on shares of Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Mizuho started coverage on shares of Medpace in a report on Tuesday, May 28th. They issued a “buy” rating and a $435.00 price target on the stock. Robert W. Baird cut their price target on Medpace from $469.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $423.00.

Medpace Stock Performance

Shares of Medpace stock opened at $349.90 on Wednesday. Medpace Holdings, Inc. has a fifty-two week low of $227.21 and a fifty-two week high of $459.77. The company has a market cap of $10.84 billion, a P/E ratio of 35.67, a price-to-earnings-growth ratio of 1.85 and a beta of 1.36. The firm has a 50-day simple moving average of $396.09 and a two-hundred day simple moving average of $396.68.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) 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 the consensus estimate of $528.41 million. Medpace had a return on equity of 55.14% and a net margin of 16.74%. Medpace’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.93 earnings per share. Equities research analysts forecast that Medpace Holdings, Inc. will post 11.66 EPS for the current 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.