Congress Asset Management Co. Purchases 1,292 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Congress Asset Management Co. increased its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 2.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 54,988 shares of the company's stock after acquiring an additional 1,292 shares during the period. Congress Asset Management Co. owned about 0.18% of Medpace worth $16,754,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MEDP. Financial Advocates Investment Management bought a new stake in shares of Medpace in the fourth quarter worth $423,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Medpace in the fourth quarter worth $532,000. Wilmington Savings Fund Society FSB grew its stake in shares of Medpace by 46.1% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 767 shares of the company's stock worth $255,000 after purchasing an additional 242 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Medpace by 32.5% in the fourth quarter. Empowered Funds LLC now owns 8,693 shares of the company's stock worth $2,888,000 after purchasing an additional 2,130 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its stake in shares of Medpace by 15.6% in the fourth quarter. Stephens Investment Management Group LLC now owns 139,420 shares of the company's stock worth $46,320,000 after purchasing an additional 18,786 shares during the last quarter. Institutional investors own 77.98% of the company's stock.

Medpace Trading Up 1.0%

Shares of NASDAQ MEDP opened at $296.50 on Friday. The firm's 50-day moving average price is $298.07 and its 200-day moving average price is $323.93. Medpace Holdings, Inc. has a 1-year low of $250.05 and a 1-year high of $459.77. The firm has a market capitalization of $8.52 billion, a P/E ratio of 23.48, a P/E/G ratio of 3.81 and a beta of 1.47.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.61. Medpace had a net margin of 19.17% and a return on equity of 51.48%. The firm had revenue of $558.57 million for the quarter, compared to analyst estimates of $528.38 million. During the same quarter in the prior year, the business earned $3.20 earnings per share. Equities research analysts forecast that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Insider Activity

In related news, Director Fred B. Davenport, Jr. sold 1,712 shares of the company'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 now owns 2,998 shares in the company, valued at $904,856.36. This represents a 36.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 20.30% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MEDP shares. Robert W. Baird reduced their price objective 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. Leerink Partners began coverage on shares of Medpace in a research note on Monday, March 24th. They issued a "market perform" rating and a $330.00 price objective on the stock. William Blair restated a "market perform" rating on shares of Medpace in a report on Tuesday, April 22nd. TD Cowen lowered shares of Medpace from a "buy" rating to a "hold" rating and dropped their target price for the company from $370.00 to $328.00 in a report on Monday, April 14th. Finally, Truist Financial dropped their target price on shares of Medpace from $333.00 to $300.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $349.30.

Medpace 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.

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