Norges Bank Makes New $69.86 Million Investment in Medpace Holdings, Inc. (NASDAQ:MEDP)

Norges Bank acquired a new stake in Medpace Holdings, Inc. (NASDAQ:MEDP) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 210,272 shares of the company’s stock, valued at approximately $69,859,000. Norges Bank owned approximately 0.68% of Medpace as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Lindbrook Capital LLC grew its stake in shares of Medpace by 27.6% during the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company’s stock valued at $45,000 after buying an additional 29 shares during the last quarter. HBK Sorce Advisory LLC increased its stake in Medpace by 0.5% in the 4th quarter. HBK Sorce Advisory LLC now owns 5,384 shares of the company’s stock worth $1,789,000 after purchasing an additional 29 shares during the period. Assetmark Inc. lifted its position in Medpace by 20.1% in the fourth quarter. Assetmark Inc. now owns 173 shares of the company’s stock valued at $57,000 after purchasing an additional 29 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Medpace by 4.1% during the fourth quarter. Proficio Capital Partners LLC now owns 730 shares of the company’s stock valued at $243,000 after purchasing an additional 29 shares during the period. Finally, Schulhoff & Co. Inc. boosted its stake in shares of Medpace by 1.2% during the fourth quarter. Schulhoff & Co. Inc. now owns 2,630 shares of the company’s stock valued at $874,000 after purchasing an additional 30 shares during the period. Institutional investors own 77.98% of the company’s stock.

Medpace Stock Up 4.5 %

NASDAQ MEDP opened at $311.23 on Thursday. The stock’s 50 day moving average is $333.58 and its 200 day moving average is $338.33. The firm has a market capitalization of $9.48 billion, a PE ratio of 24.64, a P/E/G ratio of 3.81 and a beta of 1.45. Medpace Holdings, Inc. has a twelve month low of $289.01 and a twelve month high of $459.77.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, February 10th. The company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $2.96 by $0.71. Medpace had a net margin of 19.17% and a return on equity of 51.48%. On average, research analysts anticipate that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MEDP shares. Leerink Partners began coverage on shares of Medpace in a report on Monday, March 24th. They set a “market perform” rating and a $330.00 price target for the company. Leerink Partnrs upgraded shares of Medpace to a “hold” rating in a report on Monday, March 24th. Finally, Robert W. Baird boosted their price target on Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Medpace presently has a consensus rating of “Hold” and an average price target of $376.30.

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.