JPMorgan Chase & Co. Purchases 12,455 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

JPMorgan Chase & Co. lifted its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 7.7% in the 3rd quarter, Holdings Channel reports. The fund owned 175,239 shares of the company’s stock after acquiring an additional 12,455 shares during the quarter. JPMorgan Chase & Co.’s holdings in Medpace were worth $58,495,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MEDP. Wealth Alliance grew its holdings in Medpace by 2.9% in the second quarter. Wealth Alliance now owns 970 shares of the company’s stock worth $399,000 after purchasing an additional 27 shares during the period. Centaurus Financial Inc. grew its stake in shares of Medpace by 2.0% in the 3rd quarter. Centaurus Financial Inc. now owns 1,513 shares of the company’s stock worth $505,000 after buying an additional 29 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Medpace by 0.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 4,340 shares of the company’s stock valued at $1,787,000 after buying an additional 32 shares in the last quarter. Lindenwold Advisors INC raised its stake in Medpace by 1.6% during the third quarter. Lindenwold Advisors INC now owns 2,026 shares of the company’s stock valued at $676,000 after buying an additional 32 shares during the last quarter. Finally, M&T Bank Corp boosted its holdings in Medpace by 1.2% in the third quarter. M&T Bank Corp now owns 3,199 shares of the company’s stock worth $1,068,000 after acquiring an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Stock Performance

Shares of NASDAQ:MEDP opened at $339.46 on Friday. The stock’s 50-day simple moving average is $338.34 and its two-hundred day simple moving average is $362.03. The stock has a market capitalization of $10.55 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 1.91 and a beta of 1.36. Medpace Holdings, Inc. has a 52-week low of $277.72 and a 52-week high of $459.77.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.24. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The company had revenue of $533.32 million for the quarter, compared to the consensus estimate of $540.99 million. During the same quarter last year, the firm posted $2.22 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. As a group, equities analysts forecast that Medpace Holdings, Inc. will post 11.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MEDP shares. Baird R W downgraded Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Robert W. Baird raised their price objective on shares of Medpace from $349.00 to $354.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. UBS Group downgraded shares of Medpace from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $420.00 to $350.00 in a research note on Friday, September 27th. StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, William Blair reaffirmed an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $380.56.

Medpace Profile

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.