Ithaka Group LLC Sells 84 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Ithaka Group LLC lessened its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 0.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 14,758 shares of the company’s stock after selling 84 shares during the period. Ithaka Group LLC’s holdings in Medpace were worth $6,078,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Medpace by 5.9% during the 4th quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock valued at $783,626,000 after purchasing an additional 142,591 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Medpace by 22.9% during the first quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock valued at $232,042,000 after buying an additional 107,108 shares during the period. Epoch Investment Partners Inc. raised its holdings in shares of Medpace by 15.3% in the first quarter. Epoch Investment Partners Inc. now owns 406,446 shares of the company’s stock valued at $164,265,000 after acquiring an additional 53,983 shares in the last quarter. Bessemer Group Inc. lifted its stake in Medpace by 1.6% in the first quarter. Bessemer Group Inc. now owns 394,834 shares of the company’s stock worth $159,572,000 after acquiring an additional 6,137 shares during the period. Finally, Westwind Capital grew its holdings in Medpace by 800.1% during the 2nd quarter. Westwind Capital now owns 380,929 shares of the company’s stock worth $156,886,000 after acquiring an additional 338,610 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Truist Financial began coverage on shares of Medpace in a research report on Thursday, August 1st. They issued a “hold” rating and a $415.00 price target for the company. Mizuho initiated coverage on Medpace in a research report on Tuesday, May 28th. They issued a “buy” rating and a $435.00 price target for the company. Guggenheim decreased their price objective on Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. William Blair reiterated an “outperform” rating on shares of Medpace in a research note on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $423.00.

Medpace Stock Performance

Medpace stock opened at $351.67 on Monday. Medpace Holdings, Inc. has a one year low of $227.21 and a one year high of $459.77. The stock has a market cap of $10.90 billion, a PE ratio of 35.85, a price-to-earnings-growth ratio of 1.74 and a beta of 1.35. The stock has a 50-day moving average of $384.27 and a two-hundred day moving average of $393.30.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, July 22nd. The company reported $2.75 EPS for the quarter, beating the consensus estimate of $2.54 by $0.21. The firm had revenue of $528.10 million during 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%. Medpace’s revenue was up 14.6% on a year-over-year basis. During the same period last year, the firm posted $1.93 EPS. As a group, sell-side analysts predict that Medpace Holdings, Inc. will post 11.66 EPS for the current fiscal 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.