Joseph Group Capital Management Has $1.02 Million Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Joseph Group Capital Management boosted its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 20.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,045 shares of the company’s stock after buying an additional 520 shares during the quarter. Joseph Group Capital Management’s holdings in Medpace were worth $1,016,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. O Shaughnessy Asset Management LLC bought a new position in Medpace during the 1st quarter worth $307,000. Clearbridge Investments LLC raised its holdings 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 acquiring an additional 195,698 shares in the last quarter. Natixis bought a new stake in shares of Medpace during the 1st quarter valued at $727,000. MQS Management LLC bought a new position in shares of Medpace in the first quarter worth $318,000. Finally, EntryPoint Capital LLC acquired a new position in Medpace in the first quarter valued at about $54,000. 77.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MEDP. Redburn Atlantic began coverage on shares of Medpace in a research report on Monday, October 14th. They issued a “buy” rating and a $404.00 target price for the company. UBS Group cut Medpace from a “buy” rating to a “neutral” rating and cut their target price for the stock from $420.00 to $350.00 in a research note on Friday, September 27th. Truist Financial lowered their price target on Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reduced 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. Finally, Baird R W cut shares of Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $380.00.

Medpace Trading Down 0.5 %

NASDAQ:MEDP opened at $308.93 on Tuesday. The stock’s 50-day moving average is $341.51 and its 200-day moving average is $375.46. Medpace Holdings, Inc. has a 1-year low of $268.80 and a 1-year high of $459.77. The stock has a market cap of $9.60 billion, a P/E ratio of 27.05, a price-to-earnings-growth ratio of 1.72 and a beta of 1.37.

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