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

Lecap Asset Management Ltd. lifted its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 107.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,119 shares of the company’s stock after acquiring an additional 5,238 shares during the period. Medpace makes up 0.7% of Lecap Asset Management Ltd.’s portfolio, making the stock its 27th biggest position. Lecap Asset Management Ltd.’s holdings in Medpace were worth $3,378,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Westwind Capital raised its holdings in shares of Medpace by 800.1% during the 2nd quarter. Westwind Capital now owns 380,929 shares of the company’s stock valued at $156,886,000 after buying an additional 338,610 shares during the period. Findlay Park Partners LLP purchased a new stake in shares of Medpace during the first quarter valued at approximately $90,247,000. Clearbridge Investments LLC lifted its position in shares of Medpace by 302.4% during the first quarter. Clearbridge Investments LLC now owns 260,411 shares of the company’s stock worth $105,245,000 after purchasing an additional 195,698 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Medpace by 38.3% in the second quarter. Renaissance Technologies LLC now owns 443,588 shares of the company’s stock valued at $182,692,000 after purchasing an additional 122,800 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Medpace by 62.3% in the second quarter. AQR Capital Management LLC now owns 310,650 shares of the company’s stock valued at $127,941,000 after purchasing an additional 119,257 shares during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Price Performance

Shares of MEDP opened at $326.54 on Wednesday. The stock has a market capitalization 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 business’s fifty day moving average price is $354.82 and its 200 day moving average price is $382.57. Medpace Holdings, Inc. has a 12-month low of $227.21 and a 12-month high of $459.77.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Guggenheim cut their price objective on shares of Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Redburn Atlantic started coverage on Medpace in a research report on Monday, October 14th. They set a “buy” rating and a $404.00 target price on the stock. TD Cowen reduced their price target on Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Finally, Truist Financial cut their target price on Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $386.89.

About Medpace

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.