Congress Asset Management Co. Increases Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Congress Asset Management Co. increased its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 14.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 53,696 shares of the company's stock after buying an additional 6,878 shares during the quarter. Congress Asset Management Co. owned about 0.17% of Medpace worth $17,839,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp raised its position in Medpace by 7.2% in the third quarter. State Street Corp now owns 752,957 shares of the company's stock valued at $251,337,000 after purchasing an additional 50,312 shares during the period. Geode Capital Management LLC raised its position in Medpace by 7.6% in the third quarter. Geode Capital Management LLC now owns 628,054 shares of the company's stock valued at $209,885,000 after purchasing an additional 44,371 shares during the period. Wellington Management Group LLP raised its position in Medpace by 36.0% in the third quarter. Wellington Management Group LLP now owns 415,255 shares of the company's stock valued at $138,612,000 after purchasing an additional 109,886 shares during the period. American Capital Management Inc. raised its position in Medpace by 2.6% in the third quarter. American Capital Management Inc. now owns 380,646 shares of the company's stock valued at $127,060,000 after purchasing an additional 9,592 shares during the period. Finally, FMR LLC raised its position in Medpace by 11.8% in the third quarter. FMR LLC now owns 231,019 shares of the company's stock valued at $77,114,000 after purchasing an additional 24,362 shares during the period. Hedge funds and other institutional investors own 77.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MEDP. Robert W. Baird lifted their target price on Medpace from $354.00 to $362.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. Baird R W cut Medpace from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. William Blair reaffirmed an "outperform" rating on shares of Medpace in a research note on Tuesday, October 22nd. Finally, TD Cowen dropped their price objective on Medpace from $413.00 to $372.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $381.44.

Medpace Trading Up 1.0 %

MEDP traded up $3.24 on Wednesday, hitting $344.01. 353,905 shares of the company were exchanged, compared to its average volume of 276,818. Medpace Holdings, Inc. has a twelve month low of $302.01 and a twelve month high of $459.77. The company has a market cap of $10.48 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 3.76 and a beta of 1.36. The firm has a 50-day moving average price of $343.28 and a two-hundred day moving average price of $347.47.

Medpace (NASDAQ:MEDP - Get Free Report) last released its earnings results on Monday, February 10th. The company reported $3.67 EPS for the quarter, topping the consensus estimate of $2.96 by $0.71. Medpace had a return on equity of 51.48% and a net margin of 19.17%. Equities analysts expect that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

About Medpace

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.