Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Acquired by Norden Group LLC

Norden Group LLC increased its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 488.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,480 shares of the company’s stock after acquiring an additional 24,466 shares during the quarter. Norden Group LLC owned approximately 0.10% of Medpace worth $11,914,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. RiverPark Advisors LLC purchased a new position in Medpace during the fourth quarter worth about $26,000. Contravisory Investment Management Inc. purchased a new position in shares of Medpace during the fourth quarter worth about $26,000. Rise Advisors LLC acquired a new position in Medpace during the first quarter worth approximately $27,000. Mather Group LLC. acquired a new position in Medpace in the first quarter valued at $28,000. Finally, GAMMA Investing LLC purchased a new stake in Medpace during the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Insider Buying and Selling at Medpace

In related news, CEO August J. Troendle sold 5,695 shares of Medpace stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $395.49, for a total value of $2,252,315.55. Following the completion of the sale, the chief executive officer now owns 654,656 shares of the company’s stock, valued at approximately $258,909,901.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Medpace news, CEO August J. Troendle sold 5,695 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $395.49, for a total transaction of $2,252,315.55. Following the completion of the transaction, the chief executive officer now owns 654,656 shares of the company’s stock, valued at approximately $258,909,901.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO August J. Troendle sold 3,987 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $395.22, for a total value of $1,575,742.14. Following the completion of the sale, the chief executive officer now directly owns 660,351 shares in the company, valued at approximately $260,983,922.22. The disclosure for this sale can be found here. Insiders sold 29,621 shares of company stock worth $11,816,852 over the last ninety days. 20.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on MEDP. Deutsche Bank Aktiengesellschaft began coverage on Medpace in a report on Monday, March 18th. They issued a “hold” rating and a $395.00 target price for the company. Mizuho assumed coverage on shares of Medpace in a research report on Tuesday, May 28th. They issued a “buy” rating and a $435.00 price objective for the company. Robert W. Baird lifted their price target on Medpace from $446.00 to $454.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. TD Cowen assumed coverage on Medpace in a research report on Wednesday, May 29th. They issued a “buy” rating and a $452.00 target price on the stock. Finally, StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Medpace has an average rating of “Moderate Buy” and an average price target of $443.14.

Medpace Price Performance

Shares of MEDP opened at $403.07 on Thursday. The company has a market capitalization of $12.49 billion, a price-to-earnings ratio of 41.09, a P/E/G ratio of 2.00 and a beta of 1.36. The business’s 50-day moving average is $397.80 and its 200-day moving average is $369.78. Medpace Holdings, Inc. has a fifty-two week low of $227.21 and a fifty-two week high of $437.39.

Medpace (NASDAQ:MEDP) last issued its earnings results on Monday, April 22nd. The company reported $3.20 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.75. The firm had revenue of $511.00 million for the quarter, compared to the consensus estimate of $512.39 million. Medpace had a return on equity of 59.74% and a net margin of 15.92%. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.27 earnings per share. Equities research analysts expect that Medpace Holdings, Inc. will post 11.29 earnings per share for the current fiscal year.

About Medpace

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.