Pacer Advisors Inc. Buys 9,022 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Pacer Advisors Inc. increased its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 182.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,968 shares of the company’s stock after acquiring an additional 9,022 shares during the period. Pacer Advisors Inc.’s holdings in Medpace were worth $5,753,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of MEDP. Rise Advisors LLC bought a new stake in Medpace during the first quarter worth about $27,000. Mather Group LLC. bought a new stake in Medpace during the first quarter worth about $28,000. Fidelis Capital Partners LLC bought a new stake in Medpace during the first quarter worth about $31,000. J.Safra Asset Management Corp raised its holdings in Medpace by 87.0% during the first quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock worth $41,000 after acquiring an additional 47 shares in the last quarter. Finally, DT Investment Partners LLC bought a new stake in Medpace during the second quarter worth about $41,000. Institutional investors own 77.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on MEDP. Deutsche Bank Aktiengesellschaft dropped their price objective on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Robert W. Baird dropped their price objective on Medpace from $430.00 to $413.00 and set an “outperform” rating on the stock in a research note on Friday. TD Cowen dropped their price objective on Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Mizuho began coverage on Medpace in a research report on Tuesday, May 28th. They issued a “buy” rating and a $435.00 target price on the stock. Finally, StockNews.com downgraded Medpace from a “buy” rating to a “hold” rating in a research report on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Medpace has a consensus rating of “Moderate Buy” and an average price target of $420.88.

Medpace Price Performance

Shares of NASDAQ:MEDP opened at $361.95 on Tuesday. The company has a market capitalization of $11.21 billion, a P/E ratio of 36.90, a P/E/G ratio of 1.74 and a beta of 1.35. Medpace Holdings, Inc. has a 1 year low of $227.21 and a 1 year high of $459.77. The business’s 50 day simple moving average is $376.50 and its 200 day simple moving average is $391.48.

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