Norden Group LLC Has $1.39 Million Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

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

Other hedge funds have also modified their holdings of the company. Westwind Capital raised its holdings in Medpace by 800.1% during the 2nd quarter. Westwind Capital now owns 380,929 shares of the company’s stock worth $156,886,000 after buying an additional 338,610 shares during the period. TD Asset Management Inc raised its holdings in Medpace by 195.2% during the 4th quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock worth $143,162,000 after buying an additional 308,816 shares during the period. Findlay Park Partners LLP acquired a new stake in Medpace during the 1st quarter worth approximately $90,247,000. Clearbridge Investments LLC raised its holdings in Medpace by 302.4% during the 1st quarter. Clearbridge Investments LLC now owns 260,411 shares of the company’s stock worth $105,245,000 after buying an additional 195,698 shares during the period. Finally, Norges Bank acquired a new stake in Medpace during the 4th quarter worth approximately $59,163,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Medpace Stock Down 3.4 %

Shares of NASDAQ:MEDP traded down $11.66 during midday trading on Friday, hitting $335.74. The stock had a trading volume of 288,125 shares, compared to its average volume of 245,615. Medpace Holdings, Inc. has a 12 month low of $227.21 and a 12 month high of $459.77. The business’s 50-day simple moving average is $390.71 and its 200-day simple moving average is $395.32. The company has a market cap of $10.40 billion, a P/E ratio of 34.22, a PEG ratio of 1.85 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.21. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The business had revenue of $528.10 million during the quarter, compared to analysts’ expectations of $528.41 million. During the same period last year, the business earned $1.93 earnings per share. The firm’s revenue was up 14.6% on a year-over-year basis. As a group, equities analysts predict that Medpace Holdings, Inc. will post 11.66 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Medpace Company 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.