Johnson Investment Counsel Inc. Has $540,000 Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Johnson Investment Counsel Inc. lowered its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 3.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,310 shares of the company’s stock after selling 40 shares during the period. Johnson Investment Counsel Inc.’s holdings in Medpace were worth $540,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MEDP. 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 valued at $156,886,000 after purchasing an additional 338,610 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Medpace by 195.2% in the fourth quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock valued at $143,162,000 after purchasing an additional 308,816 shares in the last quarter. Findlay Park Partners LLP acquired a new stake in shares of Medpace in the first quarter valued at approximately $90,247,000. Clearbridge Investments LLC increased its holdings in shares of Medpace by 302.4% in the first quarter. Clearbridge Investments LLC now owns 260,411 shares of the company’s stock valued at $105,245,000 after purchasing an additional 195,698 shares in the last quarter. Finally, Norges Bank acquired a new stake in Medpace during the 4th quarter worth $59,163,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Price Performance

MEDP stock opened at $351.67 on Friday. The stock has a market capitalization of $10.90 billion, a P/E ratio of 35.85, a P/E/G ratio of 1.74 and a beta of 1.35. The business has a 50-day moving average of $384.27 and a 200-day moving average of $393.36. Medpace Holdings, Inc. has a fifty-two week low of $227.21 and a fifty-two week high of $459.77.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on MEDP shares. William Blair reaffirmed an “outperform” rating on shares of Medpace in a report on Wednesday. Truist Financial started coverage on shares of Medpace in a report on Thursday, August 1st. They set a “hold” rating and a $415.00 target price for the company. Guggenheim lowered their target price on shares of Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. StockNews.com raised shares of Medpace from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Finally, Robert W. Baird reduced their price target on shares of Medpace from $469.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $423.00.

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.