Congress Asset Management Co. MA Has $62.81 Million Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Congress Asset Management Co. MA grew its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDPFree Report) by 1.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 155,406 shares of the company’s stock after buying an additional 2,012 shares during the period. Congress Asset Management Co. MA owned approximately 0.50% of Medpace worth $62,807,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in MEDP. Deutsche Bank AG raised its position in Medpace by 72.4% in the third quarter. Deutsche Bank AG now owns 5,397 shares of the company’s stock worth $1,307,000 after purchasing an additional 2,267 shares in the last quarter. QRG Capital Management Inc. acquired a new position in Medpace in the third quarter worth about $575,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Medpace during the third quarter worth approximately $915,000. Envestnet Asset Management Inc. increased its holdings in shares of Medpace by 38.9% during the third quarter. Envestnet Asset Management Inc. now owns 93,945 shares of the company’s stock worth $22,747,000 after buying an additional 26,320 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Medpace by 67.6% during the third quarter. Invesco Ltd. now owns 611,900 shares of the company’s stock worth $148,159,000 after buying an additional 246,775 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Price Performance

MEDP traded up $3.40 during mid-day trading on Friday, hitting $404.03. The stock had a trading volume of 331,709 shares, compared to its average volume of 157,026. The stock’s fifty day simple moving average is $394.01 and its 200-day simple moving average is $363.03. The firm has a market capitalization of $12.52 billion, a price-to-earnings ratio of 41.19, a price-to-earnings-growth ratio of 1.98 and a beta of 1.39. Medpace Holdings, Inc. has a 1-year low of $216.87 and a 1-year high of $421.00.

Medpace (NASDAQ:MEDPGet Free Report) last issued its quarterly earnings data on Monday, April 22nd. The company reported $3.20 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.75. Medpace had a net margin of 15.92% and a return on equity of 59.74%. The business had revenue of $511.00 million for the quarter, compared to analyst estimates of $512.39 million. During the same period last year, the business posted $2.27 earnings per share. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, research analysts expect that Medpace Holdings, Inc. will post 11.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MEDP. Mizuho began coverage on shares of Medpace in a report on Tuesday, May 28th. They set a “buy” rating and a $435.00 price objective for the company. TD Cowen assumed coverage on shares of Medpace in a research note on Wednesday, May 29th. They set a “buy” rating and a $452.00 price target on the stock. Guggenheim increased their price target on shares of Medpace from $453.00 to $464.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Jefferies Financial Group raised shares of Medpace from a “hold” rating to a “buy” rating and increased their price target for the company from $340.00 to $450.00 in a research note on Tuesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Medpace in a research note on Monday, March 18th. They set a “hold” rating and a $395.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $443.14.

View Our Latest Stock Analysis on Medpace

Insider Buying and Selling at Medpace

In other Medpace news, CEO August J. Troendle sold 4,782 shares of Medpace stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $400.58, for a total value of $1,915,573.56. Following the sale, the chief executive officer now directly owns 716,197 shares in the company, valued at approximately $286,894,194.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO August J. Troendle sold 4,782 shares of Medpace stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $400.58, for a total value of $1,915,573.56. Following the completion of the transaction, the chief executive officer now owns 716,197 shares of the company’s stock, valued at approximately $286,894,194.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO August J. Troendle sold 15,102 shares of Medpace stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $400.69, for a total transaction of $6,051,220.38. Following the completion of the transaction, the chief executive officer now directly owns 791,541 shares of the company’s stock, valued at approximately $317,162,563.29. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,621 shares of company stock worth $11,816,852. Insiders own 20.30% of the company’s stock.

Medpace Profile

(Free Report)

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.

See Also

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Institutional Ownership by Quarter for Medpace (NASDAQ:MEDP)

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