Ameriprise Financial Inc. Has $76.79 Million Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Ameriprise Financial Inc. lifted its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 21.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 231,164 shares of the company’s stock after buying an additional 40,727 shares during the quarter. Ameriprise Financial Inc.’s holdings in Medpace were worth $76,793,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of MEDP. Vanguard Group Inc. boosted its position in shares of Medpace by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 2,570,770 shares of the company’s stock worth $854,087,000 after buying an additional 25,704 shares during the period. Invesco Ltd. boosted its position in Medpace by 91.8% during the 4th quarter. Invesco Ltd. now owns 1,084,753 shares of the company’s stock worth $360,387,000 after acquiring an additional 519,186 shares during the last quarter. Wasatch Advisors LP boosted its position in Medpace by 3.1% during the 4th quarter. Wasatch Advisors LP now owns 936,842 shares of the company’s stock worth $311,247,000 after acquiring an additional 28,161 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Medpace by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 656,130 shares of the company’s stock worth $218,031,000 after acquiring an additional 28,076 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Medpace by 15.0% in the fourth quarter. Bessemer Group Inc. now owns 576,044 shares of the company’s stock valued at $191,379,000 after purchasing an additional 75,275 shares during the last quarter. 77.98% of the stock is owned by institutional investors.

Insider Activity at Medpace

In other news, Director Fred B. Davenport, Jr. sold 1,712 shares of Medpace stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $301.82, for a total transaction of $516,715.84. Following the completion of the sale, the director now owns 2,998 shares of the company’s stock, valued at approximately $904,856.36. This trade represents a 36.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 20.30% of the stock is currently owned by corporate insiders.

Medpace Stock Performance

NASDAQ MEDP opened at $296.03 on Friday. The stock has a market cap of $8.51 billion, a PE ratio of 23.44, a P/E/G ratio of 3.81 and a beta of 1.55. The firm has a 50-day moving average of $306.90 and a 200-day moving average of $328.59. Medpace Holdings, Inc. has a 52-week low of $250.05 and a 52-week high of $459.77.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $528.38 million. During the same period last year, the business posted $3.20 earnings per share. As a group, analysts predict that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Mizuho decreased their target price on shares of Medpace from $400.00 to $355.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Robert W. Baird dropped their target price on Medpace from $340.00 to $313.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. William Blair reissued a “market perform” rating on shares of Medpace in a research report on Tuesday, April 22nd. Leerink Partners initiated coverage on Medpace in a research note on Monday, March 24th. They set a “market perform” rating and a $330.00 price objective on the stock. Finally, TD Cowen downgraded Medpace from a “buy” rating to a “hold” rating and cut their price objective for the company from $370.00 to $328.00 in a report on Monday, April 14th. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Medpace presently has an average rating of “Hold” and a consensus price target of $349.30.

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.