Pallas Capital Advisors LLC Purchases 2,101 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Pallas Capital Advisors LLC boosted its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 179.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,270 shares of the company’s stock after acquiring an additional 2,101 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Medpace were worth $1,086,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Medpace during the second quarter valued at $52,000. American Century Companies Inc. boosted its holdings in shares of Medpace by 31.6% during the 2nd quarter. American Century Companies Inc. now owns 47,033 shares of the company’s stock valued at $19,371,000 after acquiring an additional 11,299 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Medpace by 0.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 36,319 shares of the company’s stock worth $15,329,000 after acquiring an additional 289 shares during the period. Meeder Advisory Services Inc. raised its holdings in shares of Medpace by 9.9% during the second quarter. Meeder Advisory Services Inc. now owns 624 shares of the company’s stock valued at $257,000 after purchasing an additional 56 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in Medpace by 4.1% during the second quarter. Federated Hermes Inc. now owns 19,736 shares of the company’s stock valued at $8,128,000 after purchasing an additional 771 shares during the period. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MEDP. Robert W. Baird lifted their target price on shares of Medpace from $349.00 to $354.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Baird R W lowered Medpace from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. UBS Group downgraded Medpace from a “buy” rating to a “neutral” rating and lowered their target price for the company from $420.00 to $350.00 in a report on Friday, September 27th. TD Cowen cut their price target on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $380.56.

Medpace Trading Up 0.3 %

Shares of NASDAQ:MEDP opened at $352.01 on Tuesday. Medpace Holdings, Inc. has a 12-month low of $277.72 and a 12-month high of $459.77. The company has a market cap of $10.94 billion, a PE ratio of 30.82, a price-to-earnings-growth ratio of 1.91 and a beta of 1.36. The stock has a 50 day moving average of $341.77 and a 200 day moving average of $358.99.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, October 21st. The company reported $3.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.24. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The firm had revenue of $533.32 million during the quarter, compared to analysts’ expectations of $540.99 million. During the same period in the prior year, the company posted $2.22 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities research analysts predict that Medpace Holdings, Inc. will post 11.93 earnings per share for the current fiscal year.

Medpace Company Profile

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.