Cabot Wealth Management Inc. Buys 1,473 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Cabot Wealth Management Inc. grew its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 8.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,969 shares of the company's stock after buying an additional 1,473 shares during the period. Cabot Wealth Management Inc. owned 0.06% of Medpace worth $5,475,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MEDP. Principal Securities Inc. boosted its holdings in Medpace by 25.7% in the 4th quarter. Principal Securities Inc. now owns 367 shares of the company's stock worth $122,000 after buying an additional 75 shares during the period. Sanctuary Advisors LLC lifted its position in shares of Medpace by 20.5% during the fourth quarter. Sanctuary Advisors LLC now owns 4,964 shares of the company's stock worth $1,738,000 after acquiring an additional 844 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Medpace by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 936 shares of the company's stock worth $311,000 after acquiring an additional 47 shares during the period. Truist Financial Corp grew its position in shares of Medpace by 166.2% in the fourth quarter. Truist Financial Corp now owns 10,277 shares of the company's stock valued at $3,414,000 after purchasing an additional 6,417 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its stake in shares of Medpace by 602.0% during the 4th quarter. Venturi Wealth Management LLC now owns 344 shares of the company's stock valued at $114,000 after purchasing an additional 295 shares during the period. Institutional investors own 77.98% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on MEDP. Leerink Partners started coverage on Medpace in a research note on Monday, March 24th. They issued a "market perform" rating and a $330.00 target price for the company. Truist Financial cut their price objective on shares of Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Mizuho decreased their target price on shares of Medpace from $400.00 to $355.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Leerink Partnrs upgraded shares of Medpace to a "hold" rating in a research note on Monday, March 24th. Finally, TD Cowen downgraded shares of Medpace from a "buy" rating to a "hold" rating and cut their price target for the company from $370.00 to $328.00 in a report on Monday, April 14th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $344.82.

Medpace Stock Up 2.2%

NASDAQ:MEDP traded up $6.64 during midday trading on Tuesday, hitting $315.28. The company had a trading volume of 386,152 shares, compared to its average volume of 369,223. The company has a market capitalization of $9.06 billion, a PE ratio of 24.07, a P/E/G ratio of 5.58 and a beta of 1.47. Medpace Holdings, Inc. has a 52-week low of $250.05 and a 52-week high of $459.77. The stock's fifty day moving average price is $299.94 and its 200-day moving average price is $320.87.

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

Insider Buying and Selling at Medpace

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

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.