Medpace Holdings, Inc. $MEDP Shares Bought by North Dakota State Investment Board

North Dakota State Investment Board increased its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 470.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 3,789 shares of the company’s stock after acquiring an additional 3,125 shares during the quarter. North Dakota State Investment Board’s holdings in Medpace were worth $2,365,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Medpace in the 2nd quarter valued at about $1,323,047,000. State Street Corp boosted its holdings in Medpace by 4.2% in the 2nd quarter. State Street Corp now owns 710,895 shares of the company’s stock worth $376,483,000 after buying an additional 28,666 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Medpace by 8.3% in the 1st quarter. Renaissance Technologies LLC now owns 504,668 shares of the company’s stock worth $242,337,000 after buying an additional 38,760 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Medpace by 5.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 395,769 shares of the company’s stock worth $190,044,000 after buying an additional 20,736 shares in the last quarter. Finally, Madison Asset Management LLC purchased a new position in shares of Medpace in the second quarter valued at approximately $128,956,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Leerink Partners set a $620.00 target price on shares of Medpace in a research note on Thursday, July 23rd. Jefferies Financial Group reiterated a “hold” rating on shares of Medpace in a research report on Monday, September 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $535.00 price target on shares of Medpace in a research report on Thursday, July 23rd. TD Cowen upped their price objective on shares of Medpace from $492.00 to $673.00 and gave the company a “hold” rating in a research note on Friday, October 23rd. Finally, Mizuho set a $730.00 target price on shares of Medpace in a research note on Friday, October 23rd. Three equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $649.27.

Medpace Price Performance

Shares of MEDP stock opened at $677.56 on Friday. The firm has a market cap of $18.95 billion, a PE ratio of 37.56, a price-to-earnings-growth ratio of 2.69 and a beta of 1.18. The company has a 50-day moving average of $618.33 and a two-hundred day moving average of $531.06. Medpace Holdings, Inc. has a 1-year low of $373.00 and a 1-year high of $693.97.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Wednesday, October 21st. The company reported $4.84 EPS for the quarter, topping analysts’ consensus estimates of $4.44 by $0.40. Medpace had a return on equity of 99.76% and a net margin of 18.24%. The company had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $714.47 million. During the same period in the prior year, the firm earned $3.86 earnings per share. The firm’s revenue was up 8.5% compared to the same quarter last year. Sell-side analysts anticipate that Medpace Holdings, Inc. will post 18.06 EPS for the current fiscal year.

Insider Activity

In related news, CEO August Troendle sold 21,966 shares of the firm’s stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $625.47, for a total value of $13,739,074.02. Following the sale, the chief executive officer owned 338,225 shares of the company’s stock, valued at $211,549,590.75. This trade represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Susan Burwig sold 3,940 shares of the firm’s stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $677.00, for a total transaction of $2,667,380.00. Following the completion of the sale, the vice president owned 54,012 shares in the company, valued at $36,566,124. The trade was a 6.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 341,402 shares of company stock worth $212,702,324. 20.50% of the stock is owned by company insiders.

Medpace Profile

Medpace Holdings, Inc is a contract research organization (CRO) that provides clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports sponsors throughout the development process, from early-stage planning and regulatory submissions through clinical trial execution, data management, analysis and reporting.

Medpace’s services include Phase I through Phase IV clinical research, clinical monitoring, biostatistics, data management, medical writing, pharmacovigilance, regulatory consulting and central laboratory services.