Chase Investment Counsel Corp Boosts Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Chase Investment Counsel Corp increased its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 5.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 9,246 shares of the company’s stock after purchasing an additional 465 shares during the period. Chase Investment Counsel Corp’s holdings in Medpace were worth $3,536,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rise Advisors LLC bought a new position in Medpace in the 1st quarter worth about $27,000. Mather Group LLC. purchased a new position in shares of Medpace during the first quarter worth about $28,000. Fidelis Capital Partners LLC purchased a new position in shares of Medpace during the first quarter worth about $31,000. J.Safra Asset Management Corp increased its position in shares of Medpace by 87.0% in the first quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock worth $41,000 after purchasing an additional 47 shares during the last quarter. Finally, DT Investment Partners LLC purchased a new stake in Medpace in the second quarter valued at approximately $41,000. 77.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on MEDP shares. Deutsche Bank Aktiengesellschaft cut their price target 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. TD Cowen reduced their target price on Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Guggenheim dropped their price target on Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Truist Financial began coverage on Medpace in a report on Thursday, August 1st. They issued a “hold” rating and a $415.00 price objective for the company. Finally, William Blair reissued an “outperform” rating on shares of Medpace in a report on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $423.00.

Medpace Trading Down 1.3 %

Shares of NASDAQ:MEDP traded down $4.36 on Thursday, reaching $342.74. 42,814 shares of the company traded hands, compared to its average volume of 244,392. The business’s 50-day simple moving average is $393.77 and its 200 day simple moving average is $396.04. The stock has a market capitalization of $10.62 billion, a P/E ratio of 35.38, a price-to-earnings-growth ratio of 1.85 and a beta of 1.36. Medpace Holdings, Inc. has a 52 week low of $227.21 and a 52 week high of $459.77.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The firm had revenue of $528.10 million for the quarter, compared to analysts’ expectations of $528.41 million. During the same quarter last year, the business earned $1.93 earnings per share. The business’s revenue was up 14.6% on a year-over-year basis. Sell-side 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.