Federated Hermes Inc. Increases Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Federated Hermes Inc. lifted its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 4.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 19,736 shares of the company’s stock after purchasing an additional 771 shares during the period. Federated Hermes Inc. owned about 0.06% of Medpace worth $8,128,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MEDP. William Blair reissued an “outperform” rating on shares of Medpace in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft reduced their target price on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. TD Cowen reduced their target price on Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Guggenheim reduced their target price on Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, Truist Financial initiated coverage on Medpace in a report on Thursday, August 1st. They set a “hold” rating and a $415.00 target price for the company. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $423.00.

Medpace Stock Performance

Shares of Medpace stock opened at $354.65 on Wednesday. The firm has a market capitalization of $10.99 billion, a price-to-earnings ratio of 36.15, a PEG ratio of 1.74 and a beta of 1.36. Medpace Holdings, Inc. has a fifty-two week low of $227.21 and a fifty-two week high of $459.77. The stock has a 50 day moving average of $382.17 and a 200 day moving average of $392.66.

Medpace (NASDAQ:MEDP) last issued 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 analyst estimates of $528.41 million. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The firm’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 business posted $1.93 earnings per share. Analysts forecast that Medpace Holdings, Inc. will post 11.66 EPS for the current 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.