Wakefield Asset Management LLLP Cuts Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Wakefield Asset Management LLLP lowered its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,585 shares of the company’s stock after selling 32 shares during the period. Wakefield Asset Management LLLP’s holdings in Medpace were worth $1,065,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Savant Capital LLC grew its stake in shares of Medpace by 34.9% during the second quarter. Savant Capital LLC now owns 6,344 shares of the company’s stock valued at $2,613,000 after buying an additional 1,640 shares during the last quarter. Candriam S.C.A. boosted its holdings in Medpace by 267.2% during the 2nd quarter. Candriam S.C.A. now owns 74,561 shares of the company’s stock valued at $30,707,000 after acquiring an additional 54,255 shares during the period. Parkside Financial Bank & Trust grew its position in Medpace by 7.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 633 shares of the company’s stock worth $261,000 after acquiring an additional 46 shares during the last quarter. Arizona State Retirement System increased its stake in Medpace by 9.3% in the 2nd quarter. Arizona State Retirement System now owns 7,372 shares of the company’s stock worth $3,036,000 after purchasing an additional 626 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Medpace by 17.7% in the second quarter. Victory Capital Management Inc. now owns 68,486 shares of the company’s stock valued at $28,206,000 after purchasing an additional 10,320 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. William Blair reissued an “outperform” rating on shares of Medpace in a report on Tuesday, July 23rd. TD Cowen decreased their price objective on shares of Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Robert W. Baird dropped their target price on shares of Medpace from $469.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Finally, Guggenheim reduced their price target on Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $423.00.

Medpace Price Performance

Shares of MEDP opened at $335.74 on Friday. The company has a 50-day simple moving average of $390.71 and a two-hundred day simple moving average of $395.32. The firm has a market capitalization of $10.40 billion, a PE ratio of 34.22, a price-to-earnings-growth ratio of 1.85 and a beta of 1.36. Medpace Holdings, Inc. has a one year low of $227.21 and a one year high of $459.77.

Medpace (NASDAQ:MEDP) last released its 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 company had revenue of $528.10 million during the quarter, compared to analysts’ expectations of $528.41 million. During the same quarter last year, the business posted $1.93 EPS. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. Analysts expect that Medpace Holdings, Inc. will post 11.66 EPS 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.