Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Acquired by Ascent Group LLC

Ascent Group LLC grew its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 16.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,374 shares of the company's stock after buying an additional 1,349 shares during the quarter. Ascent Group LLC's holdings in Medpace were worth $3,114,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MEDP. GF Fund Management CO. LTD. bought a new stake in shares of Medpace in the 4th quarter worth approximately $217,000. Palisades Investment Partners LLC raised its stake in shares of Medpace by 9.2% in the fourth quarter. Palisades Investment Partners LLC now owns 15,919 shares of the company's stock valued at $5,289,000 after buying an additional 1,338 shares during the period. Novem Group purchased a new stake in Medpace in the 4th quarter worth about $718,000. Focus Partners Advisor Solutions LLC bought a new stake in Medpace in the 4th quarter valued at about $234,000. Finally, Voloridge Investment Management LLC lifted its holdings in Medpace by 55.9% during the fourth quarter. Voloridge Investment Management LLC now owns 164,208 shares of the company's stock valued at $54,555,000 after purchasing an additional 58,861 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company's stock.

Insider Activity at Medpace

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 now directly owns 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 currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MEDP shares. William Blair reiterated a "market perform" rating on shares of Medpace in a research note on Tuesday, April 22nd. Leerink Partnrs raised Medpace to a "hold" rating in a research note on Monday, March 24th. Robert W. Baird dropped their price target on Medpace from $340.00 to $313.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Leerink Partners began coverage on Medpace in a research report on Monday, March 24th. They set a "market perform" rating and a $330.00 price objective on the stock. Finally, Truist Financial lowered their price objective on shares of Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $349.30.

Medpace Price Performance

MEDP traded down $1.81 during midday trading on Friday, reaching $295.24. 90,773 shares of the company's stock traded hands, compared to its average volume of 352,958. Medpace Holdings, Inc. has a 52 week low of $250.05 and a 52 week high of $459.77. The stock has a market capitalization of $8.49 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 3.81 and a beta of 1.55. The firm has a fifty day moving average of $299.48 and a two-hundred day moving average of $325.24.

Medpace (NASDAQ:MEDP - Get Free Report) last posted 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 return on equity of 51.48% and a net margin of 19.17%. The business had revenue of $558.57 million for the quarter, compared to analysts' expectations of $528.38 million. During the same period in the previous year, the firm posted $3.20 EPS. Sell-side analysts forecast that Medpace Holdings, Inc. will post 12.29 EPS for the current 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.