Argent Capital Management LLC Buys 1,409 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Argent Capital Management LLC boosted its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 8.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,259 shares of the company’s stock after buying an additional 1,409 shares during the period. Argent Capital Management LLC owned approximately 0.06% of Medpace worth $7,108,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its stake in shares of Medpace by 248,773.8% in the fourth quarter. International Assets Investment Management LLC now owns 104,527 shares of the company’s stock worth $32,041,000 after acquiring an additional 104,485 shares during the last quarter. Cerity Partners LLC grew its position in Medpace by 8.3% during the 4th quarter. Cerity Partners LLC now owns 2,463 shares of the company’s stock valued at $755,000 after purchasing an additional 189 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Medpace by 71.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,056 shares of the company’s stock valued at $630,000 after purchasing an additional 856 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Medpace by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,897 shares of the company’s stock valued at $2,114,000 after purchasing an additional 148 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in Medpace by 213.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 345 shares of the company’s stock worth $105,000 after buying an additional 235 shares during the last quarter. Institutional investors own 77.98% of the company’s stock.

Analysts Set New Price Targets

MEDP has been the topic of a number of recent analyst reports. Guggenheim cut their price target on shares of Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft cut their target price on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. TD Cowen decreased their price target on Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. William Blair reaffirmed an “outperform” rating on shares of Medpace in a report on Tuesday, July 23rd. Finally, Truist Financial began coverage on Medpace in a report on Thursday, August 1st. They issued a “hold” rating and a $415.00 price objective for the company. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Medpace currently has an average rating of “Moderate Buy” and a consensus price target of $423.00.

Insider Activity

In related news, CEO August J. Troendle sold 5,695 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $395.49, for a total value of $2,252,315.55. Following the transaction, the chief executive officer now directly owns 654,656 shares of the company’s stock, valued at approximately $258,909,901.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 20.30% of the company’s stock.

Medpace Trading Up 1.2 %

MEDP stock traded up $4.59 during trading on Friday, reaching $390.91. The stock had a trading volume of 107,160 shares, compared to its average volume of 243,408. The stock’s 50 day moving average is $399.86 and its two-hundred day moving average is $394.66. The firm has a market cap of $12.11 billion, a PE ratio of 39.85, a PEG ratio of 2.00 and a beta of 1.36. Medpace Holdings, Inc. has a 52 week low of $227.21 and a 52 week high of $459.77.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.21. The firm had revenue of $528.10 million for the quarter, compared to analysts’ expectations of $528.41 million. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The business’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.93 EPS. On average, research analysts anticipate that Medpace Holdings, Inc. will post 11.66 EPS for the current year.

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.