JPMorgan Chase & Co. Raises Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

JPMorgan Chase & Co. boosted its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 7.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 175,239 shares of the company’s stock after buying an additional 12,455 shares during the period. JPMorgan Chase & Co. owned approximately 0.56% of Medpace worth $58,495,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MEDP. Stone House Investment Management LLC bought a new position in shares of Medpace in the third quarter worth approximately $33,000. Ashton Thomas Securities LLC purchased a new position in Medpace in the 3rd quarter worth approximately $37,000. Capital Performance Advisors LLP bought a new position in shares of Medpace in the 3rd quarter worth $46,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Medpace during the 2nd quarter valued at $52,000. Finally, True Wealth Design LLC lifted its holdings in shares of Medpace by 16,800.0% during the 3rd quarter. True Wealth Design LLC now owns 169 shares of the company’s stock worth $56,000 after acquiring an additional 168 shares during the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Medpace Price Performance

NASDAQ MEDP opened at $339.46 on Friday. Medpace Holdings, Inc. has a 1 year low of $277.72 and a 1 year high of $459.77. The stock has a market capitalization of $10.55 billion, a PE ratio of 29.73, a PEG ratio of 1.91 and a beta of 1.36. The business’s 50-day moving average is $338.34 and its 200 day moving average is $362.03.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.24. The firm had revenue of $533.32 million for the quarter, compared to analyst estimates of $540.99 million. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company earned $2.22 EPS. As a group, equities research analysts anticipate that Medpace Holdings, Inc. will post 11.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MEDP. Truist Financial lowered their price target on Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. TD Cowen decreased their price objective on Medpace from $413.00 to $372.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. StockNews.com lowered Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Jefferies Financial Group downgraded shares of Medpace from a “buy” rating to a “hold” rating and decreased their price target for the stock from $415.00 to $345.00 in a research note on Wednesday, September 25th. Finally, UBS Group cut shares of Medpace from a “buy” rating to a “neutral” rating and cut their price objective for the company from $420.00 to $350.00 in a research note on Friday, September 27th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $380.56.

Medpace Company Profile

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.