Ameriprise Financial Inc. Grows Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Ameriprise Financial Inc. grew its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 21.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 231,164 shares of the company's stock after purchasing an additional 40,727 shares during the quarter. Ameriprise Financial Inc. owned about 0.74% of Medpace worth $76,793,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of MEDP. Vanguard Group Inc. raised its position in shares of Medpace by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 2,570,770 shares of the company's stock worth $854,087,000 after acquiring an additional 25,704 shares during the last quarter. Invesco Ltd. raised its position in shares of Medpace by 91.8% during the fourth quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock worth $360,387,000 after acquiring an additional 519,186 shares during the last quarter. Wasatch Advisors LP raised its position in shares of Medpace by 3.1% during the fourth quarter. Wasatch Advisors LP now owns 936,842 shares of the company's stock worth $311,247,000 after acquiring an additional 28,161 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Medpace by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 656,130 shares of the company's stock worth $218,031,000 after acquiring an additional 28,076 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Medpace by 15.0% during the fourth quarter. Bessemer Group Inc. now owns 576,044 shares of the company's stock worth $191,379,000 after acquiring an additional 75,275 shares during the last quarter. Institutional investors and hedge funds own 77.98% of the company's stock.

Insider Transactions at Medpace

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $301.82, for a total transaction of $516,715.84. Following the transaction, the director now directly owns 2,998 shares of the company's stock, valued at approximately $904,856.36. This trade represents a 36.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 20.30% of the stock is currently owned by company insiders.

Medpace Stock Performance

MEDP traded down $3.59 during midday trading on Tuesday, reaching $310.15. 275,117 shares of the company were exchanged, compared to its average volume of 347,101. The company has a market cap of $8.91 billion, a price-to-earnings ratio of 24.56, a price-to-earnings-growth ratio of 3.81 and a beta of 1.55. The company's fifty day moving average price is $306.60 and its 200 day moving average price is $328.47. Medpace Holdings, Inc. has a one year low of $250.05 and a one year high of $459.77.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The company reported $3.67 EPS for the quarter, topping analysts' consensus estimates of $3.06 by $0.61. Medpace had a return on equity of 51.48% and a net margin of 19.17%. The firm had revenue of $558.57 million during the quarter, compared to analyst estimates of $528.38 million. During the same period last year, the company earned $3.20 earnings per share. As a group, sell-side analysts anticipate that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. TD Cowen cut Medpace from a "buy" rating to a "hold" rating and decreased their target price for the company from $370.00 to $328.00 in a research note on Monday, April 14th. Truist Financial decreased their target price on Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Mizuho decreased their target price on Medpace from $400.00 to $355.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. William Blair reaffirmed a "market perform" rating on shares of Medpace in a research report on Tuesday, April 22nd. Finally, Robert W. Baird reduced their price objective on Medpace from $340.00 to $313.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Medpace has a consensus rating of "Hold" and an average price target of $349.30.

Medpace Company Profile

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.