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.
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.
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.
Read More: Buyback
Receive News & Ratings for Medpace Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medpace and related companies with MarketBeat.com's FREE daily email newsletter.