1,170 Shares in Medpace Holdings, Inc. (NASDAQ:MEDP) Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC acquired a new stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,170 shares of the company’s stock, valued at approximately $496,000.

Several other large investors have also modified their holdings of the stock. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Medpace during the fourth quarter worth about $322,000. International Assets Investment Management LLC lifted its position in shares of Medpace by 248,773.8% during the 4th quarter. International Assets Investment Management LLC now owns 104,527 shares of the company’s stock valued at $32,041,000 after acquiring an additional 104,485 shares during the period. Cerity Partners LLC boosted its stake in shares of Medpace by 8.3% during the 4th quarter. Cerity Partners LLC now owns 2,463 shares of the company’s stock worth $755,000 after acquiring an additional 189 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Medpace by 71.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,056 shares of the company’s stock worth $630,000 after acquiring an additional 856 shares during the period. Finally, Strs Ohio increased its stake in Medpace by 4.4% in the 4th quarter. Strs Ohio now owns 4,501 shares of the company’s stock valued at $1,379,000 after purchasing an additional 189 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Stock Performance

NASDAQ MEDP traded up $2.51 during trading hours on Wednesday, hitting $391.86. 14,121 shares of the company’s stock were exchanged, compared to its average volume of 244,047. The business’s 50 day moving average is $400.24 and its 200-day moving average is $394.04. Medpace Holdings, Inc. has a 12-month low of $227.21 and a 12-month high of $459.77. The firm has a market capitalization of $12.14 billion, a P/E ratio of 39.69, a price-to-earnings-growth ratio of 2.00 and a beta of 1.36.

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

Analyst Ratings Changes

MEDP has been the topic of a number of research analyst reports. Guggenheim decreased their target price on Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Truist Financial started coverage on shares of Medpace in a research note on Thursday, August 1st. They set a “hold” rating and a $415.00 price objective for the company. Robert W. Baird lowered their target price on Medpace from $469.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, William Blair reaffirmed an “outperform” rating on shares of Medpace in a research note on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Medpace currently has a consensus rating of “Moderate Buy” and an average price target of $423.00.

Insider Activity

In related news, CEO August J. Troendle sold 3,987 shares of Medpace stock in a transaction on Friday, May 24th. The stock was sold at an average price of $395.22, for a total value of $1,575,742.14. Following the transaction, the chief executive officer now owns 660,351 shares in the company, valued at $260,983,922.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Medpace news, CEO August J. Troendle sold 3,987 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $395.22, for a total value of $1,575,742.14. Following the completion of the transaction, the chief executive officer now owns 660,351 shares in the company, valued at approximately $260,983,922.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO August J. Troendle sold 5,695 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $395.49, for a total transaction of $2,252,315.55. Following the completion of the transaction, the chief executive officer now directly owns 654,656 shares of the company’s stock, valued at $258,909,901.44. The disclosure for this sale can be found here. Corporate insiders own 20.30% of the company’s stock.

Medpace Profile

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.