Azzad Asset Management Inc. ADV Buys Shares of 786 Medpace Holdings, Inc. (NASDAQ:MEDP)

Azzad Asset Management Inc. ADV purchased a new position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 786 shares of the company’s stock, valued at approximately $262,000.

Several other large investors have also made changes to their positions in MEDP. Westwind Capital raised its holdings in shares of Medpace by 800.1% during the 2nd quarter. Westwind Capital now owns 380,929 shares of the company’s stock worth $156,886,000 after buying an additional 338,610 shares in the last quarter. Findlay Park Partners LLP bought a new stake in shares of Medpace during the 1st quarter valued at approximately $90,247,000. Clearbridge Investments LLC lifted its stake in Medpace by 302.4% in the 1st 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 during the last quarter. Vanguard Group Inc. boosted its position in Medpace by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock valued at $783,626,000 after buying an additional 142,591 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Medpace by 38.3% during the second quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock worth $182,692,000 after buying an additional 122,800 shares during the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.

Analyst Ratings Changes

MEDP has been the subject of a number of research reports. Robert W. Baird dropped their price target on Medpace from $430.00 to $413.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. TD Cowen dropped their target price on Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. William Blair restated an “outperform” rating on shares of Medpace in a report on Wednesday, September 11th. UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $420.00 to $350.00 in a report on Friday, September 27th. Finally, Truist Financial assumed coverage on shares of Medpace in a report on Thursday, August 1st. They set a “hold” rating and a $415.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $395.00.

Medpace Price Performance

Medpace stock opened at $338.16 on Wednesday. The stock’s 50 day moving average is $362.27 and its 200 day moving average is $386.78. Medpace Holdings, Inc. has a one year low of $227.21 and a one year high of $459.77. The firm has a market cap of $10.48 billion, a P/E ratio of 34.47, a P/E/G ratio of 1.88 and a beta of 1.35.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $528.10 million during the quarter, compared to analyst estimates of $528.41 million. During the same quarter last year, the business earned $1.93 EPS. The company’s revenue was up 14.6% compared to the same quarter last year. Equities analysts anticipate that Medpace Holdings, Inc. will post 11.66 earnings per share 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.