Rhumbline Advisers Acquires 2,046 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Rhumbline Advisers grew its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 3.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,000 shares of the company’s stock after purchasing an additional 2,046 shares during the period. Rhumbline Advisers’ holdings in Medpace were worth $28,829,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MEDP. Rise Advisors LLC bought a new position in shares of Medpace in the first quarter worth $27,000. Mather Group LLC. purchased a new stake in shares of Medpace in the first quarter worth about $28,000. Fidelis Capital Partners LLC bought a new stake in Medpace during the 1st quarter worth approximately $31,000. J.Safra Asset Management Corp raised its position in shares of Medpace by 87.0% in the first quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock worth $41,000 after buying an additional 47 shares in the last quarter. Finally, DT Investment Partners LLC bought a new stake in Medpace during the second quarter valued at $41,000. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. TD Cowen lowered their price target on Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. William Blair reiterated an “outperform” rating on shares of Medpace in a research report on Tuesday, July 23rd. Truist Financial began 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. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Finally, Robert W. Baird reduced their target price on Medpace from $469.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $423.00.

Medpace Trading Down 3.4 %

MEDP opened at $335.74 on Friday. Medpace Holdings, Inc. has a 12 month low of $227.21 and a 12 month high of $459.77. The business’s 50-day moving average price is $390.71 and its 200-day moving average price is $395.32. The company has a market cap of $10.40 billion, a P/E ratio of 34.22, a P/E/G ratio of 1.85 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.21. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The firm had revenue of $528.10 million during the quarter, compared to the consensus estimate of $528.41 million. During the same quarter in the previous year, the company posted $1.93 earnings per share. The business’s revenue was up 14.6% on a year-over-year basis. Equities research analysts forecast that Medpace Holdings, Inc. will post 11.66 earnings per share for the current fiscal year.

Medpace 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.