Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. lowered its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 5.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,818 shares of the company’s stock after selling 2,519 shares during the quarter. Congress Asset Management Co. owned 0.15% of Medpace worth $15,628,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Signaturefd LLC raised its position in shares of Medpace by 4.9% during the 2nd quarter. Signaturefd LLC now owns 559 shares of the company’s stock worth $230,000 after purchasing an additional 26 shares during the last quarter. Wealth Alliance raised its holdings in shares of Medpace by 2.9% during the second quarter. Wealth Alliance now owns 970 shares of the company’s stock valued at $399,000 after acquiring an additional 27 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Medpace by 0.7% in the second quarter. Commonwealth Equity Services LLC now owns 4,340 shares of the company’s stock valued at $1,787,000 after acquiring an additional 32 shares in the last quarter. Journey Advisory Group LLC lifted its position in shares of Medpace by 1.9% in the second quarter. Journey Advisory Group LLC now owns 2,390 shares of the company’s stock valued at $984,000 after acquiring an additional 44 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Medpace by 7.8% in the second quarter. Parkside Financial Bank & Trust now owns 633 shares of the company’s stock worth $261,000 after acquiring an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Stock Down 1.3 %

MEDP stock opened at $314.22 on Friday. Medpace Holdings, Inc. has a 52-week low of $239.00 and a 52-week high of $459.77. The stock has a market cap of $9.77 billion, a price-to-earnings ratio of 27.51, a price-to-earnings-growth ratio of 1.76 and a beta of 1.35. The business has a fifty day moving average of $346.02 and a two-hundred day moving average of $379.14.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.24. Medpace had a return on equity of 50.87% and a net margin of 17.66%. The firm had revenue of $533.32 million during the quarter, compared to the consensus estimate of $540.99 million. During the same period last year, the company earned $2.22 EPS. The company’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Medpace Holdings, Inc. will post 11.93 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MEDP shares. Jefferies Financial Group lowered Medpace from a “buy” rating to a “hold” rating and decreased their price objective for the company from $415.00 to $345.00 in a report on Wednesday, September 25th. Redburn Atlantic began coverage on shares of Medpace in a research note on Monday, October 14th. They issued a “buy” rating and a $404.00 price target on the stock. Guggenheim lowered their price target on shares of Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. UBS Group downgraded shares of Medpace from a “buy” rating to a “neutral” rating and cut their price objective for the company from $420.00 to $350.00 in a report on Friday, September 27th. Finally, Truist Financial lowered their target price on Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $380.00.

About Medpace

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.