Lecap Asset Management Ltd. Grows Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Lecap Asset Management Ltd. raised its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 107.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,119 shares of the company’s stock after buying an additional 5,238 shares during the quarter. Medpace comprises approximately 0.7% of Lecap Asset Management Ltd.’s holdings, making the stock its 27th largest position. Lecap Asset Management Ltd.’s holdings in Medpace were worth $3,378,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MEDP. Mather Group LLC. purchased a new stake in Medpace during the first quarter valued at approximately $28,000. Fidelis Capital Partners LLC purchased a new position in Medpace during the first quarter valued at approximately $31,000. J.Safra Asset Management Corp boosted its position 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 purchasing an additional 47 shares in the last quarter. DT Investment Partners LLC purchased a new stake in Medpace during the second quarter valued at approximately $41,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Medpace in the second quarter worth about $52,000. Institutional investors own 77.98% of the company’s stock.

Analyst Ratings Changes

MEDP has been the topic of several research analyst reports. Truist Financial dropped their price target on Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft lowered their target price 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. Redburn Atlantic started coverage on shares of Medpace in a report on Monday, October 14th. They issued a “buy” rating and a $404.00 price target for the company. William Blair reissued an “outperform” rating on shares of Medpace in a report on Tuesday. Finally, UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $420.00 to $350.00 in a research report on Friday, September 27th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $386.89.

Medpace Stock Down 7.5 %

NASDAQ:MEDP opened at $326.54 on Wednesday. Medpace Holdings, Inc. has a fifty-two week low of $227.21 and a fifty-two week high of $459.77. The stock has a market cap of $10.12 billion, a PE ratio of 33.29, a price-to-earnings-growth ratio of 1.77 and a beta of 1.35. The firm’s fifty day simple moving average is $354.82 and its 200-day simple moving average is $382.57.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.24. The company had revenue of $533.32 million during the quarter, compared to analysts’ expectations of $540.99 million. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.22 earnings per share. Equities analysts anticipate that Medpace Holdings, Inc. will post 11.64 earnings per share for the current year.

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.