Tandem Investment Advisors Inc. Purchases New Shares in Medpace Holdings, Inc. (NASDAQ:MEDP)

Tandem Investment Advisors Inc. acquired a new position in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 11,688 shares of the company's stock, valued at approximately $3,561,000.

A number of other hedge funds have also bought and sold shares of the business. Lindbrook Capital LLC boosted its position in Medpace by 27.6% in the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company's stock worth $45,000 after purchasing an additional 29 shares during the last quarter. HBK Sorce Advisory LLC lifted its stake in shares of Medpace by 0.5% in the 4th quarter. HBK Sorce Advisory LLC now owns 5,384 shares of the company's stock worth $1,789,000 after purchasing an additional 29 shares during the period. Assetmark Inc. boosted its holdings in shares of Medpace by 20.1% in the fourth quarter. Assetmark Inc. now owns 173 shares of the company's stock worth $57,000 after buying an additional 29 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Medpace by 4.1% in the fourth quarter. Proficio Capital Partners LLC now owns 730 shares of the company's stock worth $243,000 after buying an additional 29 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in Medpace by 0.6% during the fourth quarter. Arizona State Retirement System now owns 7,630 shares of the company's stock valued at $2,535,000 after buying an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MEDP shares. Mizuho cut their price objective on shares of Medpace from $400.00 to $355.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Leerink Partnrs raised Medpace to a "hold" rating in a report on Monday, March 24th. Truist Financial decreased their price objective on Medpace from $333.00 to $300.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Barclays started coverage on Medpace in a research report on Tuesday, June 24th. They set an "equal weight" rating and a $300.00 price objective on the stock. Finally, Robert W. Baird decreased their target price on shares of Medpace from $340.00 to $313.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $344.82.

Insider Buying and Selling

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of the business's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $301.82, for a total value of $516,715.84. Following the sale, the director directly owned 2,998 shares in the company, valued at $904,856.36. The trade was a 36.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 20.30% of the stock is owned by company insiders.

Medpace Price Performance

Shares of MEDP stock traded down $4.53 during trading hours on Friday, hitting $321.50. The stock had a trading volume of 175,561 shares, compared to its average volume of 373,876. The stock's 50-day moving average price is $303.28 and its two-hundred day moving average price is $319.53. Medpace Holdings, Inc. has a one year low of $250.05 and a one year high of $459.77. The stock has a market capitalization of $9.24 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 5.88 and a beta of 1.47.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its earnings results on Monday, April 21st. The company reported $3.67 EPS for the quarter, beating analysts' consensus estimates of $3.06 by $0.61. Medpace had a return on equity of 54.36% and a net margin of 19.31%. The firm had revenue of $558.57 million during the quarter, compared to the consensus estimate of $528.38 million. During the same period in the prior year, the company earned $3.20 EPS. As a group, equities research analysts predict that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

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.