LGT Fund Management Co Ltd. Invests $535,000 in Medpace Holdings, Inc. (NASDAQ:MEDP)

LGT Fund Management Co Ltd. bought a new position in Medpace Holdings, Inc. (NASDAQ:MEDP) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,300 shares of the company’s stock, valued at approximately $535,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FORA Capital LLC purchased a new stake in shares of Medpace in the 1st quarter worth about $2,222,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Medpace in the 1st quarter worth about $5,179,000. Eagle Asset Management Inc. grew its position in shares of Medpace by 155.0% in the 4th quarter. Eagle Asset Management Inc. now owns 226,435 shares of the company’s stock worth $69,409,000 after buying an additional 137,632 shares during the period. Evoke Wealth LLC purchased a new stake in shares of Medpace in the 4th quarter worth about $3,149,000. Finally, Norden Group LLC grew its position in shares of Medpace by 488.0% in the 1st quarter. Norden Group LLC now owns 29,480 shares of the company’s stock worth $11,914,000 after buying an additional 24,466 shares during the period. 77.98% of the stock is owned by hedge funds and other institutional investors.

Medpace Stock Performance

MEDP opened at $327.80 on Wednesday. The stock 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. The company’s 50-day simple moving average is $387.82 and its two-hundred day simple moving average is $394.55. Medpace Holdings, Inc. has a 52-week low of $227.21 and a 52-week high of $459.77.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The firm had revenue of $528.10 million for the quarter, compared to analysts’ expectations of $528.41 million. During the same quarter in the prior year, the business earned $1.93 EPS. The business’s quarterly revenue was up 14.6% on a year-over-year basis. Research analysts forecast that Medpace Holdings, Inc. will post 11.66 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MEDP shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Guggenheim dropped their price target 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. Robert W. Baird dropped their price target on shares of Medpace from $469.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Truist Financial started coverage on shares of Medpace in a research note on Thursday, August 1st. They issued a “hold” rating and a $415.00 price target on the stock. Finally, TD Cowen dropped their price target on shares of Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $423.00.

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.