Medpace Holdings, Inc. (NASDAQ:MEDP) Holdings Raised by Pictet Asset Management SA

Posted by on Feb 26th, 2023

Pictet Asset Management SA lifted its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP – Get Rating) by 128.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,021 shares of the company’s stock after purchasing an additional 13,513 shares during the quarter. Pictet Asset Management SA owned about 0.08% of Medpace worth $3,775,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ronald Blue Trust Inc. raised its stake in shares of Medpace by 59.8% during the third quarter. Ronald Blue Trust Inc. now owns 187 shares of the company’s stock valued at $28,000 after purchasing an additional 70 shares in the last quarter. CWM LLC raised its stake in shares of Medpace by 63.0% during the third quarter. CWM LLC now owns 176 shares of the company’s stock valued at $28,000 after purchasing an additional 68 shares in the last quarter. Wipfli Financial Advisors LLC bought a new stake in shares of Medpace during the third quarter valued at about $32,000. Point72 Hong Kong Ltd bought a new stake in shares of Medpace during the second quarter valued at about $42,000. Finally, China Universal Asset Management Co. Ltd. bought a new stake in shares of Medpace during the third quarter valued at about $46,000. 82.49% of the stock is currently owned by institutional investors.

Medpace Stock Down 1.3 %

NASDAQ:MEDP opened at $192.91 on Friday. The business’s 50-day moving average price is $218.08 and its 200 day moving average price is $195.05. The firm has a market cap of $5.99 billion, a P/E ratio of 26.35 and a beta of 1.42. Medpace Holdings, Inc. has a 52-week low of $126.94 and a 52-week high of $241.48.

Medpace (NASDAQ:MEDP – Get Rating) last issued its quarterly earnings results on Monday, February 13th. The company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.34. Medpace had a return on equity of 60.42% and a net margin of 16.81%. The firm had revenue of $394.10 million for the quarter, compared to analysts’ expectations of $386.09 million. During the same quarter last year, the business posted $1.32 EPS. Medpace’s revenue was up 27.7% on a year-over-year basis. Sell-side analysts expect that Medpace Holdings, Inc. will post 7.66 EPS for the current year.

Wall Street Analyst Weigh In

MEDP has been the topic of a number of research analyst reports. Robert W. Baird lifted their target price on Medpace from $226.00 to $233.00 and gave the stock a “neutral” rating in a report on Wednesday, February 15th. StockNews.com raised Medpace from a “hold” rating to a “buy” rating in a report on Tuesday, February 21st.

Medpace Profile

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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.

Further Reading

Institutional Ownership by Quarter for Medpace (NASDAQ:MEDP)

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