Chase Investment Counsel Corp lifted its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP – Free Report) by 2.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 9,012 shares of the company’s stock after acquiring an additional 231 shares during the period. Chase Investment Counsel Corp’s holdings in Medpace were worth $3,711,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. FORA Capital LLC purchased a new position in Medpace in the first quarter valued at approximately $2,222,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Medpace in the first quarter valued at approximately $5,179,000. Norden Group LLC raised its holdings in Medpace by 488.0% in the first quarter. Norden Group LLC now owns 29,480 shares of the company’s stock valued at $11,914,000 after buying an additional 24,466 shares during the period. QRG Capital Management Inc. raised its holdings in Medpace by 322.5% in the first quarter. QRG Capital Management Inc. now owns 10,553 shares of the company’s stock valued at $4,265,000 after buying an additional 8,055 shares during the period. Finally, M&G Plc purchased a new position in Medpace in the first quarter valued at approximately $9,885,000. 77.98% of the stock is currently owned by hedge funds and other institutional investors.
Medpace Trading Up 1.6 %
MEDP stock opened at $331.44 on Monday. Medpace Holdings, Inc. has a twelve month low of $227.21 and a twelve month high of $459.77. The company has a market capitalization of $10.27 billion, a P/E ratio of 33.79, a PEG ratio of 1.88 and a beta of 1.35. The firm has a 50 day simple moving average of $368.39 and a 200-day simple moving average of $389.44.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on MEDP shares. William Blair restated an “outperform” rating on shares of Medpace in a report on Wednesday, September 11th. Truist Financial assumed coverage on shares of Medpace in a report on Thursday, August 1st. They issued a “hold” rating and a $415.00 price target on the stock. Jefferies Financial Group downgraded shares of Medpace from a “buy” rating to a “hold” rating and lowered their price objective for the company from $415.00 to $345.00 in a research report on Wednesday, September 25th. UBS Group downgraded shares of Medpace from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $420.00 to $350.00 in a research report on Friday. Finally, TD Cowen lowered their price objective on shares of Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Medpace currently has a consensus rating of “Moderate Buy” and an average price target of $395.00.
Read Our Latest Stock 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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