Point72 Asset Management L.P. acquired a new position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP – Free Report) 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.
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.
Check Out Our Latest Analysis on MEDP
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.
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