Federated Hermes Inc. Grows Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Federated Hermes Inc. raised its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 4.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,736 shares of the company’s stock after buying an additional 771 shares during the period. Federated Hermes Inc.’s holdings in Medpace were worth $8,128,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rise Advisors LLC purchased a new position in shares of Medpace during the first quarter worth $27,000. Mather Group LLC. purchased a new position in Medpace in the first quarter valued at $28,000. Fidelis Capital Partners LLC purchased a new position in Medpace in the first quarter valued at $31,000. J.Safra Asset Management Corp boosted its holdings in Medpace by 87.0% in the first quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock valued at $41,000 after purchasing an additional 47 shares during the period. Finally, DT Investment Partners LLC purchased a new position in Medpace in the second quarter valued at $41,000. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Medpace Stock Performance

MEDP opened at $354.65 on Wednesday. The business’s 50-day simple moving average is $382.17 and its 200-day simple moving average is $392.66. Medpace Holdings, Inc. has a one year low of $227.21 and a one year high of $459.77. The stock has a market capitalization of $10.99 billion, a P/E ratio of 36.15, a price-to-earnings-growth ratio of 1.74 and a beta of 1.36.

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MEDP shares. TD Cowen decreased their target price on Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft decreased their target price on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. William Blair reiterated an “outperform” rating on shares of Medpace in a report on Wednesday, September 11th. Truist Financial began coverage on Medpace in a research note on Thursday, August 1st. They issued a “hold” rating and a $415.00 price target on the stock. Finally, Mizuho began coverage on Medpace in a research note on Tuesday, May 28th. They issued a “buy” rating and a $435.00 price target on the stock. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $423.00.

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.