Davidson Capital Management Inc. Boosts Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Davidson Capital Management Inc. increased its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 4.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,764 shares of the company’s stock after purchasing an additional 340 shares during the quarter. Medpace accounts for 1.0% of Davidson Capital Management Inc.’s portfolio, making the stock its 26th largest position. Davidson Capital Management Inc.’s holdings in Medpace were worth $3,198,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in Medpace in the 1st quarter worth $27,000. Mather Group LLC. purchased a new stake in shares of Medpace during the first quarter worth about $28,000. Fidelis Capital Partners LLC acquired a new position in shares of Medpace in the first quarter worth about $31,000. DT Investment Partners LLC purchased a new position in Medpace in the second quarter valued at about $41,000. Finally, J.Safra Asset Management Corp grew its stake in Medpace by 87.0% during the 1st quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock valued at $41,000 after purchasing an additional 47 shares in the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MEDP has been the subject of several research analyst reports. 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 research note on Wednesday, July 24th. Robert W. Baird reduced their price objective on shares of Medpace from $469.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a research note on Wednesday. Mizuho began coverage on Medpace in a report on Tuesday, May 28th. They issued a “buy” rating and a $435.00 price objective for the company. Finally, TD Cowen reduced their target price on Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $423.00.

Medpace Price Performance

NASDAQ:MEDP opened at $369.18 on Friday. The firm has a market capitalization of $11.44 billion, a P/E ratio of 37.63, a P/E/G ratio of 1.74 and a beta of 1.36. The business has a 50 day simple moving average of $379.70 and a 200 day simple moving average of $392.28. Medpace Holdings, Inc. has a 12-month low of $227.21 and a 12-month high of $459.77.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The company 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 company’s revenue for the quarter was up 14.6% compared to the same quarter last year. Research analysts anticipate that Medpace Holdings, Inc. will post 11.66 EPS for the current fiscal year.

About Medpace

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.