Palisades Investment Partners LLC lifted its stake in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 9.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,919 shares of the company's stock after purchasing an additional 1,338 shares during the quarter. Medpace comprises about 2.2% of Palisades Investment Partners LLC's portfolio, making the stock its 18th largest holding. Palisades Investment Partners LLC owned about 0.05% of Medpace worth $5,289,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Barclays PLC increased its holdings in Medpace by 71.9% in the 3rd quarter. Barclays PLC now owns 19,781 shares of the company's stock worth $6,603,000 after buying an additional 8,275 shares during the period. Park Avenue Securities LLC increased its holdings in Medpace by 39.2% in the 4th quarter. Park Avenue Securities LLC now owns 2,701 shares of the company's stock worth $897,000 after buying an additional 760 shares during the period. Merit Financial Group LLC acquired a new position in Medpace in the 4th quarter worth approximately $607,000. Diversify Wealth Management LLC increased its holdings in Medpace by 71.6% in the 4th quarter. Diversify Wealth Management LLC now owns 2,461 shares of the company's stock worth $864,000 after buying an additional 1,027 shares during the period. Finally, Diversify Advisory Services LLC increased its holdings in Medpace by 10.7% in the 4th quarter. Diversify Advisory Services LLC now owns 788 shares of the company's stock worth $277,000 after buying an additional 76 shares during the period. 77.98% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on MEDP. TD Cowen downgraded shares of Medpace from a "buy" rating to a "hold" rating and cut their price target for the stock from $370.00 to $328.00 in a report on Monday, April 14th. Mizuho dropped their price objective on shares of Medpace from $400.00 to $355.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Leerink Partners assumed coverage on shares of Medpace in a research note on Monday, March 24th. They set a "market perform" rating and a $330.00 price objective on the stock. Robert W. Baird dropped their price objective on shares of Medpace from $340.00 to $313.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Finally, William Blair reaffirmed a "market perform" rating on shares of Medpace in a research note on Tuesday, April 22nd. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $349.30.
View Our Latest Report on Medpace
Insider Transactions 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 transaction, the director now owns 2,998 shares in the company, valued at $904,856.36. The trade was a 36.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 20.30% of the company's stock.
Medpace Trading Up 1.3%
MEDP traded up $3.73 on Tuesday, hitting $298.62. 48,301 shares of the company's stock were exchanged, compared to its average volume of 420,252. Medpace Holdings, Inc. has a fifty-two week low of $250.05 and a fifty-two week high of $459.77. The firm has a 50-day moving average price of $301.18 and a 200-day moving average price of $326.12. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of 23.64, a P/E/G ratio of 3.81 and a beta of 1.55.
Medpace (NASDAQ:MEDP - Get Free Report) last announced its earnings results 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 company had revenue of $558.57 million for the quarter, compared to analysts' expectations of $528.38 million. During the same quarter in the previous year, the company posted $3.20 EPS. On average, equities analysts predict that Medpace Holdings, Inc. will post 12.29 EPS for the current year.
About Medpace
(
Free Report)
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.
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