Fred Alger Management LLC Buys Shares of 4,103 Medpace Holdings, Inc. (NASDAQ:MEDP)

Fred Alger Management LLC bought a new stake in Medpace Holdings, Inc. (NASDAQ:MEDP) during the second quarter, HoldingsChannel reports. The institutional investor bought 4,103 shares of the company’s stock, valued at approximately $1,690,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MEDP. Rise Advisors LLC purchased a new position in Medpace in the first quarter valued at about $27,000. Mather Group LLC. purchased a new position in Medpace in the first quarter valued at about $28,000. Fidelis Capital Partners LLC purchased a new position in Medpace in the first quarter valued at about $31,000. J.Safra Asset Management Corp boosted its stake in Medpace by 87.0% in the first quarter. J.Safra Asset Management Corp now owns 101 shares of the company’s stock valued at $41,000 after acquiring an additional 47 shares during the last quarter. Finally, DT Investment Partners LLC purchased a new position in Medpace in the second quarter valued at about $41,000. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. William Blair reissued an “outperform” rating on shares of Medpace in a research report on Wednesday, September 11th. Jefferies Financial Group lowered shares of Medpace from a “buy” rating to a “hold” rating and lowered their price target for the company from $415.00 to $345.00 in a research report on Wednesday. UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and lowered their price target for the company from $420.00 to $350.00 in a research report on Friday. Robert W. Baird lowered their price target on shares of Medpace from $430.00 to $413.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Finally, Truist Financial assumed coverage on shares of Medpace in a research report on Thursday, August 1st. They issued a “hold” rating and a $415.00 price target on the stock. Five 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $395.00.

Medpace Trading Up 1.6 %

Medpace stock opened at $331.44 on Friday. The firm’s 50 day simple moving average is $370.19 and its 200 day simple moving average is $390.19. The firm 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 1-year low of $227.21 and a 1-year high of $459.77.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, July 22nd. The company reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.21. The firm had revenue of $528.10 million for 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%. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.93 EPS. Research analysts forecast that Medpace Holdings, Inc. will post 11.66 earnings per share for the current year.

Medpace 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.