Norden Group LLC Buys 701 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Norden Group LLC boosted its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 26.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,371 shares of the company’s stock after purchasing an additional 701 shares during the quarter. Norden Group LLC’s holdings in Medpace were worth $1,388,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Medpace by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock worth $783,626,000 after buying an additional 142,591 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Medpace by 22.9% during the first quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock worth $232,042,000 after buying an additional 107,108 shares in the last quarter. Epoch Investment Partners Inc. raised its stake in Medpace by 15.3% in the first quarter. Epoch Investment Partners Inc. now owns 406,446 shares of the company’s stock valued at $164,265,000 after purchasing an additional 53,983 shares in the last quarter. Bessemer Group Inc. raised its stake in Medpace by 1.6% in the first quarter. Bessemer Group Inc. now owns 394,834 shares of the company’s stock valued at $159,572,000 after purchasing an additional 6,137 shares in the last quarter. Finally, Westwind Capital raised its stake in Medpace by 800.1% in the second quarter. Westwind Capital now owns 380,929 shares of the company’s stock valued at $156,886,000 after purchasing an additional 338,610 shares in the last quarter. 77.98% of the stock is owned by institutional investors.

Medpace Trading Down 3.4 %

MEDP stock traded down $11.66 during trading on Friday, hitting $335.74. The company had a trading volume of 288,125 shares, compared to its average volume of 245,615. The business has a 50-day moving average of $390.71 and a 200-day moving average of $395.32. Medpace Holdings, Inc. has a one year low of $227.21 and a one year high of $459.77. The stock has a market cap of $10.40 billion, a PE ratio of 34.22, a PEG ratio of 1.85 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.21. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The firm had revenue of $528.10 million for the quarter, compared to analyst estimates of $528.41 million. During the same period in the previous year, the firm earned $1.93 earnings per share. The company’s revenue was up 14.6% compared to the same quarter last year. Research analysts forecast that Medpace Holdings, Inc. will post 11.66 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MEDP. Truist Financial began coverage on Medpace in a research note on Thursday, August 1st. They issued a “hold” rating and a $415.00 price target for the company. Mizuho began coverage on Medpace in a research note on Tuesday, May 28th. They issued a “buy” rating and a $435.00 price target for the company. Deutsche Bank Aktiengesellschaft reduced their price target on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. StockNews.com upgraded Medpace from a “hold” rating to a “buy” rating in a report on Thursday. Finally, TD Cowen reduced their price target on Medpace from $452.00 to $434.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $423.00.

Medpace Profile

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.