Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Purchased by ClariVest Asset Management LLC

ClariVest Asset Management LLC lifted its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 69.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,582 shares of the company’s stock after acquiring an additional 4,331 shares during the period. ClariVest Asset Management LLC’s holdings in Medpace were worth $4,358,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Rise Advisors LLC purchased a new stake in Medpace during the 1st quarter worth $27,000. Mather Group LLC. acquired a new position in shares of Medpace during the first quarter worth about $28,000. Fidelis Capital Partners LLC acquired a new position in shares of Medpace during the first quarter worth about $31,000. DT Investment Partners LLC purchased a new stake in shares of Medpace in the second quarter worth about $41,000. Finally, J.Safra Asset Management Corp grew its stake 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 valued at $41,000 after buying an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MEDP. Robert W. Baird decreased their target price 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. Truist Financial started coverage on Medpace in a report on Thursday, August 1st. They issued a “hold” rating and a $415.00 price objective for the company. Deutsche Bank Aktiengesellschaft cut 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. TD Cowen decreased their target price on Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, StockNews.com upgraded Medpace from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Medpace presently has a consensus rating of “Moderate Buy” and a consensus target price of $423.00.

Medpace Stock Performance

Medpace stock opened at $327.80 on Wednesday. Medpace Holdings, Inc. has a one year low of $227.21 and a one year high of $459.77. The company has a 50-day simple moving average of $387.82 and a 200-day simple moving average of $394.55. The firm has a market capitalization of $10.16 billion, a P/E ratio of 33.41, a P/E/G ratio of 1.74 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, topping 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 business had revenue of $528.10 million during the quarter, compared to analyst estimates of $528.41 million. During the same period in the prior year, the company posted $1.93 EPS. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Medpace Holdings, Inc. will post 11.66 earnings per share for the current 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.