Palisades Investment Partners LLC Increases Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Palisades Investment Partners LLC boosted its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 9.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,919 shares of the company’s stock after buying an additional 1,338 shares during the quarter. Medpace makes up 2.2% of Palisades Investment Partners LLC’s investment portfolio, making the stock its 18th largest holding. Palisades Investment Partners LLC owned 0.05% of Medpace worth $5,289,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of MEDP. Sone Capital Management LLC purchased a new position in Medpace during the fourth quarter worth about $1,318,000. Barclays PLC boosted its stake in shares of 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 last quarter. Sanctuary Advisors LLC boosted its stake in shares of Medpace by 20.5% in the 4th quarter. Sanctuary Advisors LLC now owns 4,964 shares of the company’s stock worth $1,738,000 after buying an additional 844 shares during the last quarter. SYM FINANCIAL Corp bought a new position in shares of Medpace in the fourth quarter valued at approximately $320,000. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Medpace during the fourth quarter valued at approximately $9,335,000. 77.98% of the stock is currently owned by institutional investors.

Insider Activity at Medpace

In related news, Director Fred B. Davenport, Jr. sold 1,712 shares of the company’s stock in a transaction on Thursday, April 24th. The shares were 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 directly 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 filing with the SEC, which is available through this link. 20.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Mizuho reduced their price target 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. Truist Financial reduced their price objective on Medpace from $333.00 to $300.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. Leerink Partnrs upgraded Medpace to a “hold” rating in a research note on Monday, March 24th. William Blair reissued a “market perform” rating on shares of Medpace in a report on Tuesday, April 22nd. Finally, Leerink Partners began coverage on Medpace in a research report on Monday, March 24th. They set a “market perform” rating and a $330.00 price target on the stock. Eleven investment 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, Medpace currently has an average rating of “Hold” and an average price target of $349.30.

Medpace Stock Performance

Shares of NASDAQ:MEDP opened at $295.77 on Thursday. The firm has a market capitalization of $8.50 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 3.81 and a beta of 1.55. Medpace Holdings, Inc. has a 52-week low of $250.05 and a 52-week high of $459.77. The firm has a fifty day moving average of $303.06 and a 200 day moving average of $327.40.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, April 21st. The company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates 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 business earned $3.20 earnings per share. On average, sell-side analysts forecast that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

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.