Texas Permanent School Fund Corp Purchases 6,872 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Texas Permanent School Fund Corp raised its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 33.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,281 shares of the company’s stock after purchasing an additional 6,872 shares during the quarter. Texas Permanent School Fund Corp owned 0.09% of Medpace worth $11,236,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in Medpace during the first quarter valued at about $27,000. Mather Group LLC. bought a new stake in Medpace during the 1st quarter worth approximately $28,000. Fidelis Capital Partners LLC bought a new position in shares of Medpace in the first quarter worth approximately $31,000. DT Investment Partners LLC purchased a new stake in shares of Medpace in the second quarter worth $41,000. Finally, J.Safra Asset Management Corp raised its position in shares of Medpace by 87.0% during the 1st 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 during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Price Performance

Shares of NASDAQ MEDP opened at $339.38 on Tuesday. The stock has a market capitalization of $10.52 billion, a P/E ratio of 34.60, a PEG ratio of 1.74 and a beta of 1.36. Medpace Holdings, Inc. has a 1-year low of $227.21 and a 1-year high of $459.77. The business’s 50 day moving average is $389.35 and its two-hundred day moving average is $395.07.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The business had revenue of $528.10 million for the quarter, compared to analysts’ expectations of $528.41 million. During the same quarter in the previous year, the business posted $1.93 earnings per share. The business’s revenue was up 14.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Medpace Holdings, Inc. will post 11.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MEDP. William Blair reissued an “outperform” rating on shares of Medpace in a report on Tuesday, July 23rd. Robert W. Baird lowered their price target on Medpace from $469.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. TD Cowen cut their price objective on shares of Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Mizuho started coverage on shares of Medpace in a report on Tuesday, May 28th. They issued a “buy” rating and a $435.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.