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

Norges Bank bought a new position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 210,272 shares of the company's stock, valued at approximately $69,859,000. Norges Bank owned 0.68% of Medpace as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Lindbrook Capital LLC grew its position in shares of Medpace by 27.6% in the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company's stock valued at $45,000 after purchasing an additional 29 shares during the last quarter. HBK Sorce Advisory LLC boosted 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 valued at $1,789,000 after purchasing an additional 29 shares during the period. Assetmark Inc. grew its holdings in Medpace by 20.1% in the 4th quarter. Assetmark Inc. now owns 173 shares of the company's stock valued at $57,000 after buying an additional 29 shares in the last quarter. Proficio Capital Partners LLC increased its position in Medpace by 4.1% during the 4th quarter. Proficio Capital Partners LLC now owns 730 shares of the company's stock worth $243,000 after buying an additional 29 shares during the period. Finally, Schulhoff & Co. Inc. lifted its holdings in shares of Medpace by 1.2% during the fourth quarter. Schulhoff & Co. Inc. now owns 2,630 shares of the company's stock worth $874,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company's stock.

Medpace Price Performance

MEDP traded up $2.99 during trading on Monday, hitting $290.10. 777,818 shares of the stock traded hands, compared to its average volume of 309,719. The business has a 50 day moving average price of $330.36 and a 200 day moving average price of $336.76. The company has a market cap of $8.77 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 3.81 and a beta of 1.46. Medpace Holdings, Inc. has a twelve month low of $274.02 and a twelve month high of $459.77.

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

Analysts Set New Price Targets

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

Medpace 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.