Driehaus Capital Management LLC Purchases 26,726 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Driehaus Capital Management LLC lifted its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 3,977.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,398 shares of the company’s stock after buying an additional 26,726 shares during the period. Driehaus Capital Management LLC owned about 0.09% of Medpace worth $11,284,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Westwind Capital increased its holdings in shares of Medpace by 800.1% in the second quarter. Westwind Capital now owns 380,929 shares of the company’s stock worth $156,886,000 after acquiring an additional 338,610 shares in the last quarter. Findlay Park Partners LLP acquired a new position in shares of Medpace in the first quarter valued at approximately $90,247,000. Clearbridge Investments LLC increased its position 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 acquiring an additional 195,698 shares in the last quarter. Epoch Investment Partners Inc. raised its holdings in shares of Medpace by 82.3% during the fourth quarter. Epoch Investment Partners Inc. now owns 352,463 shares of the company’s stock worth $108,040,000 after acquiring an additional 159,144 shares during the period. Finally, Vanguard Group Inc. lifted its position in Medpace by 5.9% in the 4th quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock valued at $783,626,000 after acquiring an additional 142,591 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.

Analyst Upgrades and Downgrades

MEDP has been the subject of several recent research reports. Robert W. Baird reduced their price objective on Medpace from $430.00 to $413.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Truist Financial began coverage on shares of Medpace in a research report on Thursday, August 1st. They set a “hold” rating and a $415.00 price target on the stock. William Blair reaffirmed an “outperform” rating on shares of Medpace in a research report on Wednesday, September 11th. Finally, UBS Group lowered Medpace from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $420.00 to $350.00 in a research report on Friday. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $395.00.

Medpace Price Performance

MEDP stock opened at $331.44 on Monday. The stock has a market cap of $10.27 billion, a price-to-earnings ratio of 33.79, a price-to-earnings-growth ratio of 1.88 and a beta of 1.35. The company has a fifty day moving average price of $368.39 and a two-hundred day moving average price of $389.57. Medpace Holdings, Inc. has a one year low of $227.21 and a one year high of $459.77.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, July 22nd. The company reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.21. The business had revenue of $528.10 million for the quarter, compared to analyst estimates 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 business earned $1.93 EPS. Research analysts anticipate that Medpace Holdings, Inc. will post 11.66 EPS for the current fiscal year.

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.