Ithaka Group LLC Lowers Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Ithaka Group LLC lowered its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,758 shares of the company’s stock after selling 84 shares during the quarter. Ithaka Group LLC’s holdings in Medpace were worth $6,078,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in Medpace during the 1st quarter valued at approximately $27,000. Mather Group LLC. bought a new position in shares of Medpace during the first quarter worth $28,000. Fidelis Capital Partners LLC purchased a new position in Medpace during the first quarter valued at $31,000. J.Safra Asset Management Corp grew its stake in Medpace by 87.0% during the first quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock valued at $41,000 after acquiring an additional 47 shares in the last quarter. Finally, DT Investment Partners LLC bought a new stake in Medpace in the 2nd quarter valued at $41,000. Institutional investors own 77.98% of the company’s stock.

Medpace Trading Up 2.0 %

Medpace stock opened at $351.67 on Monday. The firm has a market capitalization of $10.90 billion, a PE ratio of 35.85, a price-to-earnings-growth ratio of 1.74 and a beta of 1.35. Medpace Holdings, Inc. has a 12-month low of $227.21 and a 12-month high of $459.77. The firm has a 50-day moving average price of $384.27 and a 200-day moving average price of $393.30.

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MEDP shares. Deutsche Bank Aktiengesellschaft cut their price objective on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. TD Cowen decreased their price objective on Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Truist Financial began coverage on shares of Medpace in a research report on Thursday, August 1st. They issued a “hold” rating and a $415.00 price target on the stock. Robert W. Baird dropped their price objective on shares of Medpace from $469.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Finally, Guggenheim decreased their target price on shares of Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $423.00.

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.