Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 7.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 175,239 shares of the company's stock after buying an additional 12,455 shares during the period. JPMorgan Chase & Co. owned 0.56% of Medpace worth $58,495,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Stone House Investment Management LLC bought a new stake in shares of Medpace in the third quarter worth about $33,000. Ashton Thomas Securities LLC bought a new position in Medpace during the 3rd quarter valued at approximately $37,000. Capital Performance Advisors LLP purchased a new position in Medpace during the third quarter valued at $46,000. Ashton Thomas Private Wealth LLC bought a new position in Medpace in the 2nd quarter worth about $52,000. Finally, True Wealth Design LLC lifted its stake in shares of Medpace by 16,800.0% in the third quarter. True Wealth Design LLC now owns 169 shares of the company's stock worth $56,000 after buying an additional 168 shares in the last quarter. Institutional investors own 77.98% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MEDP shares. StockNews.com cut shares of Medpace from a "buy" rating to a "hold" rating in a report on Friday, September 27th. UBS Group downgraded shares of Medpace from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $420.00 to $350.00 in a research report on Friday, September 27th. 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 research note on Monday, November 25th. Baird R W cut shares of Medpace from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. Finally, William Blair restated an "outperform" rating on shares of Medpace in a research report on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $380.56.

Medpace Price Performance

MEDP stock traded up $4.71 during trading on Friday, hitting $339.46. The stock had a trading volume of 149,917 shares, compared to its average volume of 186,809. The stock has a market capitalization of $10.55 billion, a P/E ratio of 29.73, a PEG ratio of 1.91 and a beta of 1.36. The company's 50-day moving average price is $338.34 and its two-hundred day moving average price is $361.74. Medpace Holdings, Inc. has a twelve month low of $277.72 and a twelve month high of $459.77.

Medpace (NASDAQ:MEDP - Get Free Report) last released its quarterly earnings data on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, topping analysts' consensus estimates of $2.77 by $0.24. The company had revenue of $533.32 million for the quarter, compared to analyst estimates of $540.99 million. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The firm's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.22 earnings per share. As a group, sell-side analysts expect that Medpace Holdings, Inc. will post 11.93 EPS for the current fiscal year.

About Medpace

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.