Jacobs Levy Equity Management Inc. Makes New $374,000 Investment in Medpace Holdings, Inc. (NASDAQ:MEDP)

Jacobs Levy Equity Management Inc. purchased a new position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,120 shares of the company’s stock, valued at approximately $374,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. DT Investment Partners LLC purchased a new position in Medpace during the 2nd quarter valued at about $41,000. Stone House Investment Management LLC bought a new position in shares of Medpace during the third quarter valued at approximately $33,000. Ashton Thomas Securities LLC purchased a new position in Medpace during the third quarter valued at approximately $37,000. Ashton Thomas Private Wealth LLC purchased a new position in Medpace during the second quarter valued at approximately $52,000. Finally, Capital Performance Advisors LLP bought a new position in Medpace in the third quarter worth approximately $46,000. 77.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. UBS Group downgraded Medpace from a “buy” rating to a “neutral” rating and cut their price target for the company from $420.00 to $350.00 in a report on Friday, September 27th. Truist Financial reduced their target price on shares of Medpace from $415.00 to $397.00 and set a “hold” rating for the company in a report on Monday, October 14th. Redburn Atlantic started coverage on shares of Medpace in a research report on Monday, October 14th. They issued a “buy” rating and a $404.00 price objective on the stock. Baird R W cut shares of Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, Robert W. Baird lifted their price target on shares of Medpace from $349.00 to $354.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $380.56.

Medpace Price Performance

Shares of MEDP stock opened at $352.22 on Tuesday. The business has a fifty day moving average of $338.68 and a 200 day moving average of $368.95. The firm has a market capitalization of $10.95 billion, a price-to-earnings ratio of 30.84, a price-to-earnings-growth ratio of 1.94 and a beta of 1.37. Medpace Holdings, Inc. has a 1 year low of $277.72 and a 1 year high of $459.77.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.24. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The firm had revenue of $533.32 million during the quarter, compared to analysts’ expectations of $540.99 million. During the same period last year, the business posted $2.22 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities research analysts expect that Medpace Holdings, Inc. will post 11.93 earnings per share for the current year.

About Medpace

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.