Prudential PLC Sells 204 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Prudential PLC lessened its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,788 shares of the company’s stock after selling 204 shares during the quarter. Prudential PLC owned about 0.06% of Medpace worth $8,150,000 as of its most recent filing with the SEC.

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

Medpace Stock Up 1.1 %

NASDAQ:MEDP opened at $339.38 on Tuesday. The stock’s fifty day simple moving average is $389.35 and its 200-day simple moving average is $395.07. The firm has a market capitalization of $10.52 billion, a P/E ratio of 34.60, a P/E/G ratio of 1.74 and a beta of 1.36. Medpace Holdings, Inc. has a 12-month low of $227.21 and a 12-month high of $459.77.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, July 22nd. The company reported $2.75 earnings per share 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 company had revenue of $528.10 million for the quarter, compared to analyst estimates of $528.41 million. During the same period last year, the business posted $1.93 earnings per share. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. As a group, equities research analysts expect that Medpace Holdings, Inc. will post 11.66 earnings per share for the current year.

Analysts Set New Price Targets

MEDP has been the subject of several recent research reports. Robert W. Baird cut their price target on Medpace from $469.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft reduced their target price on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Mizuho assumed coverage on shares of Medpace in a research note on Tuesday, May 28th. They issued a “buy” rating and a $435.00 price objective for the company. Truist Financial assumed coverage on shares of Medpace in a research report on Thursday, August 1st. They set a “hold” rating and a $415.00 target price on the stock. Finally, Guggenheim dropped their price target on shares of Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $423.00.

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.