Pallas Capital Advisors LLC acquired a new stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP – Free Report) 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.
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.
Check Out Our Latest Analysis on Medpace
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.
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