NorthCrest Asset Manangement LLC Makes New $1.06 Million Investment in Medpace Holdings, Inc. $MEDP

NorthCrest Asset Manangement LLC purchased a new stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 1,996 shares of the company’s stock, valued at approximately $1,062,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Medpace during the second quarter valued at approximately $66,597,000. Clarkston Capital Partners LLC acquired a new position in shares of Medpace during the 2nd quarter worth $40,569,000. Mawer Investment Management Ltd. raised its holdings in shares of Medpace by 17.4% during the 2nd quarter. Mawer Investment Management Ltd. now owns 817,432 shares of the company’s stock valued at $256,559,000 after purchasing an additional 121,213 shares in the last quarter. Bares Capital Management Inc. lifted its stake in shares of Medpace by 319.2% in the 2nd quarter. Bares Capital Management Inc. now owns 157,084 shares of the company’s stock valued at $49,302,000 after purchasing an additional 119,608 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Medpace by 79.3% in the second quarter. JPMorgan Chase & Co. now owns 265,270 shares of the company’s stock worth $83,258,000 after purchasing an additional 117,301 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.

Insider Activity at Medpace

In other news, President Jesse J. Geiger sold 21,503 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $595.66, for a total transaction of $12,808,476.98. Following the sale, the president directly owned 15,000 shares in the company, valued at approximately $8,934,900. The trade was a 58.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO August J. Troendle sold 59,025 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $607.78, for a total value of $35,874,214.50. Following the completion of the transaction, the chief executive officer owned 774,602 shares of the company’s stock, valued at $470,787,603.56. The trade was a 7.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 387,925 shares of company stock worth $233,386,647 over the last three months. Company insiders own 20.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on MEDP. Cowen restated a “sell” rating on shares of Medpace in a report on Friday, October 24th. BMO Capital Markets assumed coverage on Medpace in a research note on Thursday, November 13th. They issued a “market perform” rating and a $600.00 price objective on the stock. Truist Financial set a $555.00 target price on Medpace in a report on Monday, October 27th. TD Cowen increased their price target on Medpace from $356.00 to $462.00 and gave the company a “sell” rating in a report on Friday, October 24th. Finally, Mizuho set a $660.00 price target on shares of Medpace in a research report on Friday, January 9th. Two research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $491.27.

Medpace Price Performance

NASDAQ:MEDP opened at $602.40 on Wednesday. The stock has a market cap of $16.97 billion, a P/E ratio of 42.13, a PEG ratio of 2.05 and a beta of 1.43. The company has a fifty day moving average price of $582.94 and a 200 day moving average price of $516.67. Medpace Holdings, Inc. has a one year low of $250.05 and a one year high of $628.92.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.36. Medpace had a net margin of 18.36% and a return on equity of 91.88%. The business had revenue of $659.90 million during the quarter, compared to analyst estimates of $640.49 million. During the same quarter in the prior year, the business earned $3.01 earnings per share. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis. As a group, equities research analysts anticipate that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

About Medpace

Medpace Holdings, Inc (NASDAQ: MEDP) is a global contract research organization (CRO) that provides comprehensive clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports clinical trials across all phases (I–IV), offering end-to-end solutions designed to streamline the development process and accelerate the delivery of new therapies to market.

Medpace’s core service offerings include clinical pharmacology, regulatory affairs consulting, project management, central laboratory services, imaging, data management and biostatistics, pharmacovigilance and medical writing.