Joseph Group Capital Management Increases Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Joseph Group Capital Management grew its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 15.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,173 shares of the company’s stock after buying an additional 553 shares during the period. Joseph Group Capital Management’s holdings in Medpace were worth $1,271,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in Medpace during the 4th quarter worth approximately $31,000. Jones Financial Companies Lllp grew its stake in shares of Medpace by 2,750.0% during the fourth quarter. Jones Financial Companies Lllp now owns 114 shares of the company’s stock worth $38,000 after purchasing an additional 110 shares in the last quarter. Assetmark Inc. raised its stake in Medpace by 20.1% during the 4th quarter. Assetmark Inc. now owns 173 shares of the company’s stock worth $57,000 after acquiring an additional 29 shares in the last quarter. Colonial Trust Co SC grew its position in Medpace by 150.0% during the 4th quarter. Colonial Trust Co SC now owns 175 shares of the company’s stock worth $58,000 after purchasing an additional 105 shares during the last quarter. Finally, Nemes Rush Group LLC purchased a new position in Medpace during the 4th quarter worth $86,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Robert W. Baird cut their target price on shares of Medpace from $340.00 to $313.00 and set a “neutral” rating for the company in a research report on Wednesday, April 23rd. William Blair reissued a “market perform” rating on shares of Medpace in a research report on Tuesday, April 22nd. TD Cowen lowered shares of Medpace from a “buy” rating to a “hold” rating and cut their price objective for the company from $370.00 to $328.00 in a research report on Monday, April 14th. Barclays started coverage on shares of Medpace in a research note on Tuesday, June 24th. They set an “equal weight” rating and a $300.00 price objective for the company. Finally, Truist Financial decreased their target price on shares of Medpace from $333.00 to $300.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $344.82.

Insider Buying and Selling

In related news, Director Fred B. Davenport, Jr. sold 1,712 shares of the business’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $301.82, for a total transaction of $516,715.84. Following the sale, the director owned 2,998 shares of the company’s stock, valued at $904,856.36. The trade was a 36.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 20.30% of the stock is currently owned by insiders.

Medpace Stock Up 2.3%

NASDAQ:MEDP opened at $328.24 on Friday. The company has a market cap of $9.43 billion, a P/E ratio of 25.06, a price-to-earnings-growth ratio of 5.77 and a beta of 1.47. Medpace Holdings, Inc. has a twelve month low of $250.05 and a twelve month high of $459.77. The business has a 50 day moving average price of $305.25 and a two-hundred day moving average price of $318.99.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, April 21st. The company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.06 by $0.61. Medpace had a net margin of 19.31% and a return on equity of 54.36%. The company had revenue of $558.57 million for the quarter, compared to analysts’ expectations of $528.38 million. During the same quarter in the previous year, the firm posted $3.20 earnings per share. As a group, analysts anticipate that Medpace Holdings, Inc. will post 12.29 earnings per share 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.