Algert Global LLC Acquires 3,021 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Algert Global LLC boosted its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 10.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,341 shares of the company's stock after purchasing an additional 3,021 shares during the period. Medpace makes up approximately 0.4% of Algert Global LLC's holdings, making the stock its 9th biggest position. Algert Global LLC owned about 0.10% of Medpace worth $12,908,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in shares of Medpace during the 1st quarter worth $27,000. Mather Group LLC. acquired a new position in shares of Medpace in the 1st quarter valued at $28,000. Fidelis Capital Partners LLC purchased a new position in Medpace in the 1st quarter worth about $31,000. DT Investment Partners LLC acquired a new stake in Medpace during the 2nd quarter worth about $41,000. Finally, J.Safra Asset Management Corp lifted its stake in Medpace by 87.0% during 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. 77.98% of the stock is currently owned by institutional investors.

Medpace Stock Up 1.6 %

NASDAQ MEDP opened at $331.44 on Friday. The stock has a market capitalization of $10.27 billion, a PE ratio of 33.79, a price-to-earnings-growth ratio of 1.88 and a beta of 1.35. Medpace Holdings, Inc. has a 12-month low of $227.21 and a 12-month high of $459.77. The company has a 50 day moving average price of $368.39 and a two-hundred day moving average price of $389.69.

Medpace (NASDAQ:MEDP - Get Free Report) last released its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.21. The business had revenue of $528.10 million during the quarter, compared to analyst estimates of $528.41 million. Medpace had a net margin of 16.74% and a return on equity of 55.14%. Medpace's quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.93 EPS. As a group, equities analysts anticipate that Medpace Holdings, Inc. will post 11.66 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MEDP shares. UBS Group downgraded shares of Medpace from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $420.00 to $350.00 in a research report on Friday. Guggenheim cut their target price on shares of Medpace from $464.00 to $432.00 and set a "buy" rating on the stock in a research note on Wednesday, July 24th. StockNews.com cut Medpace from a "buy" rating to a "hold" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft dropped their price target on Medpace from $395.00 to $336.00 and set a "hold" rating on the stock in a research report on Wednesday, July 24th. Finally, Truist Financial initiated coverage on Medpace in a research report on Thursday, August 1st. They set a "hold" rating and a $415.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $395.00.

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.

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