Northern Trust Corp Boosts Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Northern Trust Corp increased its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 13.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 248,142 shares of the company's stock after buying an additional 28,968 shares during the quarter. Northern Trust Corp owned about 0.80% of Medpace worth $82,440,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Pallas Capital Advisors LLC grew its position in shares of Medpace by 179.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 3,270 shares of the company's stock worth $1,086,000 after acquiring an additional 2,101 shares during the last quarter. Barclays PLC grew its position in Medpace by 71.9% during the 3rd quarter. Barclays PLC now owns 19,781 shares of the company's stock worth $6,603,000 after purchasing an additional 8,275 shares during the last quarter. Sanctuary Advisors LLC increased its stake in Medpace by 20.5% in the fourth quarter. Sanctuary Advisors LLC now owns 4,964 shares of the company's stock valued at $1,738,000 after purchasing an additional 844 shares during the period. SYM FINANCIAL Corp purchased a new stake in shares of Medpace in the fourth quarter valued at about $320,000. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Medpace during the fourth quarter worth about $9,335,000. Institutional investors and hedge funds own 77.98% of the company's stock.

Insider Activity at Medpace

In other Medpace news, Director Fred B. Davenport, Jr. sold 1,712 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $301.82, for a total value of $516,715.84. Following the completion of the transaction, the director now owns 2,998 shares in the company, valued at $904,856.36. This represents a 36.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 20.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have commented on the company. Robert W. Baird reduced their price objective on Medpace from $340.00 to $313.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Leerink Partners began coverage on shares of Medpace in a report on Monday, March 24th. They set a "market perform" rating and a $330.00 price objective on the stock. William Blair reissued a "market perform" rating on shares of Medpace in a report on Tuesday, April 22nd. TD Cowen lowered shares of Medpace from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $370.00 to $328.00 in a research report on Monday, April 14th. Finally, Truist Financial dropped their target price on shares of Medpace from $333.00 to $300.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $349.30.

Medpace Trading Up 0.9 %

Shares of NASDAQ:MEDP opened at $305.11 on Monday. The firm has a market cap of $8.77 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 3.81 and a beta of 1.55. The stock's 50-day moving average price is $309.90 and its two-hundred day moving average price is $330.04. Medpace Holdings, Inc. has a 12-month low of $250.05 and a 12-month high of $459.77.

Medpace (NASDAQ:MEDP - Get Free Report) last released 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. The business had revenue of $558.57 million for the quarter, compared to analysts' expectations of $528.38 million. Medpace had a net margin of 19.17% and a return on equity of 51.48%. During the same period last year, the company earned $3.20 earnings per share. As a group, research analysts forecast that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Medpace Company Profile

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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