3,125 Medpace Holdings, Inc. $MEDP Shares Bought by North Dakota State Investment Board

Key Points

• North Dakota State Investment Board increased its Medpace stake by 470.6% in the third quarter, purchasing 3,125 additional shares and bringing its holdings to 3,789 shares worth approximately $2.365 million.
• Medpace reported quarterly EPS of $4.84, exceeding analyst expectations of $4.44, while revenue rose 8.5% year over year to $716 million. Institutional investors own nearly 78% of the company.
• Despite a share price near its 52-week high, analysts maintain a consensus “Hold” rating with a $649.27 target price; insiders have sold more than $212 million of stock over the past 90 days.

North Dakota State Investment Board boosted its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 470.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,789 shares of the company's stock after purchasing an additional 3,125 shares during the quarter. North Dakota State Investment Board's holdings in Medpace were worth $2,365,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Medpace in the second quarter worth about $1,323,047,000. State Street Corp lifted its position in shares of Medpace by 4.2% in the second quarter. State Street Corp now owns 710,895 shares of the company's stock worth $376,483,000 after buying an additional 28,666 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Medpace by 8.3% during the first quarter. Renaissance Technologies LLC now owns 504,668 shares of the company's stock valued at $242,337,000 after buying an additional 38,760 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Medpace by 5.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 395,769 shares of the company's stock valued at $190,044,000 after buying an additional 20,736 shares during the last quarter. Finally, Madison Asset Management LLC bought a new position in Medpace during the second quarter valued at approximately $128,956,000. 77.98% of the stock is owned by hedge funds and other institutional investors.

Medpace Stock Performance

Medpace stock opened at $677.56 on Friday. The company has a 50 day moving average price of $618.33 and a 200-day moving average price of $531.06. Medpace Holdings, Inc. has a fifty-two week low of $373.00 and a fifty-two week high of $693.97. The company has a market capitalization of $18.95 billion, a PE ratio of 37.56, a P/E/G ratio of 2.69 and a beta of 1.18.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its quarterly earnings results on Wednesday, October 21st. The company reported $4.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.44 by $0.40. Medpace had a return on equity of 99.76% and a net margin of 18.24%. The business had revenue of $716.00 million for the quarter, compared to the consensus estimate of $714.47 million. During the same quarter in the prior year, the company earned $3.86 EPS. The business's revenue was up 8.5% compared to the same quarter last year. On average, analysts forecast that Medpace Holdings, Inc. will post 18.06 earnings per share for the current year.

Wall Street Analyst Weigh In

MEDP has been the topic of a number of recent research reports. Barclays upped their price target on shares of Medpace from $625.00 to $675.00 and gave the company an "equal weight" rating in a research note on Friday, October 23rd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $535.00 price objective on shares of Medpace in a research note on Thursday, July 23rd. TD Cowen boosted their target price on shares of Medpace from $492.00 to $673.00 and gave the stock a "hold" rating in a report on Friday, October 23rd. Mizuho set a $730.00 target price on shares of Medpace in a research report on Friday, October 23rd. Finally, Leerink Partners set a $620.00 price target on shares of Medpace in a report on Thursday, July 23rd. Three equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Medpace presently has an average rating of "Hold" and a consensus target price of $649.27.

Insiders Place Their Bets

In other Medpace news, CEO August J. Troendle sold 49,018 shares of the firm's stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $628.11, for a total value of $30,788,695.98. Following the completion of the transaction, the chief executive officer owned 433,372 shares of the company's stock, valued at approximately $272,205,286.92. This trade represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Susan E. Burwig sold 16,060 shares of Medpace stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $677.00, for a total value of $10,872,620.00. Following the sale, the vice president directly owned 57,624 shares of the company's stock, valued at approximately $39,011,448. This represents a 21.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 341,402 shares of company stock worth $212,702,324. Insiders own 20.50% of the company's stock.

About Medpace

Medpace Holdings, Inc is a contract research organization (CRO) that provides clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports sponsors throughout the development process, from early-stage planning and regulatory submissions through clinical trial execution, data management, analysis and reporting.

Medpace's services include Phase I through Phase IV clinical research, clinical monitoring, biostatistics, data management, medical writing, pharmacovigilance, regulatory consulting and central laboratory services.

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