Medpace Holdings Inc (MEDP) Holdings Increased by Northern Trust Corp

Northern Trust Corp raised its holdings in Medpace Holdings Inc (NASDAQ:MEDP) by 26.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 184,045 shares of the company’s stock after acquiring an additional 38,473 shares during the period. Northern Trust Corp owned approximately 0.52% of Medpace worth $7,913,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in MEDP. Laurion Capital Management LP purchased a new stake in shares of Medpace in the 2nd quarter valued at about $29,230,000. BlackRock Inc. raised its holdings in shares of Medpace by 32.4% in the 2nd quarter. BlackRock Inc. now owns 1,605,667 shares of the company’s stock valued at $69,043,000 after acquiring an additional 392,792 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Medpace by 28.2% in the 2nd quarter. Acadian Asset Management LLC now owns 1,281,533 shares of the company’s stock valued at $55,106,000 after acquiring an additional 282,216 shares in the last quarter. Chartwell Investment Partners LLC purchased a new stake in shares of Medpace in the 2nd quarter valued at about $11,190,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Medpace by 208.9% in the 2nd quarter. Renaissance Technologies LLC now owns 338,900 shares of the company’s stock valued at $14,573,000 after acquiring an additional 229,200 shares in the last quarter. 42.40% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ MEDP opened at $55.68 on Thursday. The stock has a market cap of $2.06 billion, a P/E ratio of 36.63, a PEG ratio of 1.44 and a beta of 1.41. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.66 and a current ratio of 0.66. Medpace Holdings Inc has a 1-year low of $31.70 and a 1-year high of $65.09.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Thursday, November 1st. The company reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. The company had revenue of $179.00 million for the quarter, compared to analysts’ expectations of $175.07 million. Medpace had a return on equity of 15.86% and a net margin of 10.84%. Medpace’s revenue for the quarter was up 44.4% compared to the same quarter last year. During the same period last year, the firm posted $0.40 EPS. As a group, equities analysts expect that Medpace Holdings Inc will post 2.51 earnings per share for the current year.

In related news, major shareholder Medpace Limited Partnership sold 5,224,997 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $54.75, for a total transaction of $286,068,585.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO August J. Troendle sold 114,983 shares of the firm’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $59.31, for a total value of $6,819,641.73. Following the transaction, the chief executive officer now owns 351,851 shares in the company, valued at $20,868,282.81. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,621,556 shares of company stock worth $309,490,974. 29.50% of the stock is currently owned by insiders.

Several analysts have weighed in on MEDP shares. TheStreet raised Medpace from a “c” rating to a “b-” rating in a report on Friday, August 10th. BidaskClub cut Medpace from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. Zacks Investment Research raised Medpace from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a report on Thursday, November 1st. SunTrust Banks raised Medpace from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Wednesday, October 31st. They noted that the move was a valuation call. Finally, Credit Suisse Group raised their price objective on Medpace from $42.00 to $49.00 and gave the company an “outperform” rating in a report on Tuesday, July 31st. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $44.43.

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About Medpace

Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in a range of therapeutic areas.

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Institutional Ownership by Quarter for Medpace (NASDAQ:MEDP)

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