Joseph Group Capital Management Acquires 275 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Joseph Group Capital Management lifted its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 12.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,525 shares of the company’s stock after purchasing an additional 275 shares during the period. Joseph Group Capital Management’s holdings in Medpace were worth $1,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. Signaturefd LLC increased its holdings in Medpace by 4.9% in the 2nd quarter. Signaturefd LLC now owns 559 shares of the company’s stock valued at $230,000 after acquiring an additional 26 shares during the last quarter. Wealth Alliance raised its stake in Medpace by 2.9% during the second quarter. Wealth Alliance now owns 970 shares of the company’s stock valued at $399,000 after purchasing an additional 27 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Medpace by 0.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 4,340 shares of the company’s stock worth $1,787,000 after buying an additional 32 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Medpace by 5.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 781 shares of the company’s stock worth $316,000 after buying an additional 39 shares during the last quarter. Finally, Journey Advisory Group LLC raised its position in shares of Medpace by 1.9% during the 2nd quarter. Journey Advisory Group LLC now owns 2,390 shares of the company’s stock valued at $984,000 after buying an additional 44 shares in the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MEDP has been the subject of a number of research analyst reports. StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. William Blair reiterated an “outperform” rating on shares of Medpace in a report on Wednesday, September 11th. TD Cowen cut their target price on Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Robert W. Baird cut their price target on Medpace from $469.00 to $430.00 and set an “outperform” 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 assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $423.00.

Medpace Trading Up 2.2 %

Shares of Medpace stock opened at $369.18 on Friday. Medpace Holdings, Inc. has a twelve month low of $227.21 and a twelve month high of $459.77. The company has a fifty day moving average price of $379.70 and a 200 day moving average price of $392.28. The stock has a market cap of $11.44 billion, a price-to-earnings ratio of 37.63, a price-to-earnings-growth ratio of 1.74 and a beta of 1.36.

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