Jupiter Asset Management Ltd. Sells 652 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Jupiter Asset Management Ltd. trimmed its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 0.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 173,870 shares of the company’s stock after selling 652 shares during the quarter. Jupiter Asset Management Ltd. owned 0.56% of Medpace worth $71,608,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MEDP. American Century Companies Inc. raised its holdings in Medpace by 31.6% during the second quarter. American Century Companies Inc. now owns 47,033 shares of the company’s stock worth $19,371,000 after buying an additional 11,299 shares during the last quarter. ClariVest Asset Management LLC lifted its position in Medpace by 69.3% in the 2nd quarter. ClariVest Asset Management LLC now owns 10,582 shares of the company’s stock valued at $4,358,000 after acquiring an additional 4,331 shares in the last quarter. LGT Fund Management Co Ltd. acquired a new position in Medpace during the 2nd quarter valued at about $535,000. Texas Permanent School Fund Corp boosted its stake in Medpace by 33.7% during the 2nd quarter. Texas Permanent School Fund Corp now owns 27,281 shares of the company’s stock valued at $11,236,000 after purchasing an additional 6,872 shares during the last quarter. Finally, Choreo LLC bought a new stake in Medpace during the 2nd quarter worth approximately $733,000. 77.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MEDP shares. William Blair restated an “outperform” rating on shares of Medpace in a report on Wednesday. Robert W. Baird cut their price objective on shares of Medpace from $469.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. StockNews.com upgraded shares of Medpace from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Truist Financial initiated coverage on shares of Medpace in a research report on Thursday, August 1st. They issued a “hold” rating and a $415.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Medpace has a consensus rating of “Moderate Buy” and a consensus target price of $423.00.

Medpace Trading Up 2.1 %

NASDAQ:MEDP opened at $334.57 on Thursday. The firm’s 50 day moving average is $386.45 and its 200 day moving average is $394.13. Medpace Holdings, Inc. has a 12 month low of $227.21 and a 12 month high of $459.77. The stock has a market capitalization of $10.37 billion, a PE ratio of 34.10, a price-to-earnings-growth ratio of 1.74 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last issued 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. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The firm had revenue of $528.10 million for the quarter, compared to analysts’ expectations of $528.41 million. During the same quarter in the prior year, the firm earned $1.93 EPS. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. Research analysts predict that Medpace Holdings, Inc. will post 11.66 earnings per share for the current 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.