Treasurer of the State of North Carolina Sells 943 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Treasurer of the State of North Carolina lowered its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 7.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,169 shares of the company’s stock after selling 943 shares during the period. Treasurer of the State of North Carolina’s holdings in Medpace were worth $3,711,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MEDP. Pallas Capital Advisors LLC increased its stake in Medpace by 179.7% in the fourth quarter. Pallas Capital Advisors LLC now owns 3,270 shares of the company’s stock valued at $1,086,000 after acquiring an additional 2,101 shares during the last quarter. Barclays PLC lifted its holdings in Medpace by 71.9% in the 3rd quarter. Barclays PLC now owns 19,781 shares of the company’s stock worth $6,603,000 after buying an additional 8,275 shares during the period. Sanctuary Advisors LLC boosted its holdings in Medpace by 20.5% in the fourth quarter. Sanctuary Advisors LLC now owns 4,964 shares of the company’s stock valued at $1,738,000 after acquiring an additional 844 shares in the last quarter. SYM FINANCIAL Corp bought a new stake in shares of Medpace during the 4th quarter valued at about $320,000. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new position in shares of Medpace during the 4th quarter worth approximately $9,335,000. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Medpace Price Performance

Shares of Medpace stock opened at $305.00 on Wednesday. The business has a 50 day simple moving average of $321.46 and a two-hundred day simple moving average of $334.08. The stock has a market capitalization of $9.22 billion, a P/E ratio of 24.15, a PEG ratio of 3.81 and a beta of 1.46. Medpace Holdings, Inc. has a 12 month low of $272.00 and a 12 month high of $459.77.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, February 10th. The company reported $3.67 EPS for the quarter, topping the consensus estimate of $2.96 by $0.71. Medpace had a return on equity of 51.48% and a net margin of 19.17%. As a group, research analysts anticipate that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Leerink Partners started coverage on shares of Medpace in a research note on Monday, March 24th. They set a “market perform” rating and a $330.00 target price for the company. Mizuho decreased their price objective on shares of Medpace from $400.00 to $355.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Truist Financial lowered their target price on Medpace from $347.00 to $333.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. TD Cowen downgraded shares of Medpace from a “buy” rating to a “hold” rating and decreased their price target for the stock from $370.00 to $328.00 in a research report on Monday. Finally, Robert W. Baird lifted their price objective on Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $357.50.

About Medpace

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.