China Universal Asset Management Co. Ltd. Purchases 2,322 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

China Universal Asset Management Co. Ltd. boosted its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 63.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,963 shares of the company's stock after acquiring an additional 2,322 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in Medpace were worth $1,990,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC acquired a new stake in shares of Medpace during the 1st quarter worth about $31,000. DT Investment Partners LLC purchased a new stake in shares of Medpace during the 2nd quarter worth approximately $41,000. J.Safra Asset Management Corp boosted its holdings in shares of Medpace by 87.0% in the 1st 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. Ashton Thomas Private Wealth LLC acquired a new stake in Medpace during the 2nd quarter worth $52,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Medpace during the first quarter worth approximately $54,000. 77.98% of the stock is owned by hedge funds and other institutional investors.

Medpace Price Performance

MEDP traded up $0.41 during trading on Tuesday, hitting $329.76. The company had a trading volume of 254,278 shares, compared to its average volume of 274,436. The company has a market cap of $10.22 billion, a PE ratio of 33.47, a P/E/G ratio of 1.74 and a beta of 1.35. Medpace Holdings, Inc. has a 1-year low of $239.00 and a 1-year high of $459.77. The business has a 50-day moving average of $350.20 and a 200-day moving average of $380.49.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its quarterly earnings results on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.24. The business 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 business's revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.22 EPS. Research analysts forecast that Medpace Holdings, Inc. will post 11.77 earnings per share for the current year.

Analyst Ratings Changes

MEDP has been the subject of a number of analyst reports. Truist Financial cut their target price on Medpace from $415.00 to $397.00 and set a "hold" rating for the company in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Medpace from $395.00 to $336.00 and set a "hold" rating for the company in a research note on Wednesday, July 24th. Guggenheim reduced 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. William Blair restated an "outperform" rating on shares of Medpace in a report on Tuesday, October 22nd. Finally, UBS Group downgraded Medpace from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $420.00 to $350.00 in a research report on Friday, September 27th. Seven equities 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.com, Medpace currently has a consensus rating of "Hold" and a consensus price target of $380.00.

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.