Norden Group LLC Sells 1,527 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Norden Group LLC trimmed its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 49.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,563 shares of the company’s stock after selling 1,527 shares during the quarter. Norden Group LLC’s holdings in Medpace were worth $476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Whittier Trust Co. raised its stake in shares of Medpace by 47.3% during the first quarter. Whittier Trust Co. now owns 109 shares of the company’s stock valued at $33,000 after acquiring an additional 35 shares during the last quarter. Colonial Trust Co SC increased its holdings in Medpace by 150.0% during the 4th quarter. Colonial Trust Co SC now owns 175 shares of the company’s stock valued at $58,000 after purchasing an additional 105 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in Medpace during the 1st quarter valued at approximately $60,000. Assetmark Inc. lifted its holdings in Medpace by 24.9% in the 1st quarter. Assetmark Inc. now owns 216 shares of the company’s stock worth $66,000 after buying an additional 43 shares during the period. Finally, True Wealth Design LLC grew its position in shares of Medpace by 52.7% in the 4th quarter. True Wealth Design LLC now owns 258 shares of the company’s stock worth $86,000 after buying an additional 89 shares during the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Susan E. Burwig sold 7,500 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $450.14, for a total transaction of $3,376,050.00. Following the sale, the vice president owned 57,500 shares in the company, valued at $25,883,050. This represents a 11.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kevin M. Brady sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $454.23, for a total transaction of $5,450,760.00. Following the completion of the transaction, the chief financial officer owned 6,000 shares of the company’s stock, valued at approximately $2,725,380. The trade was a 66.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 112,788 shares of company stock worth $51,018,354 over the last quarter. 20.30% of the stock is owned by insiders.

Medpace Stock Performance

MEDP stock opened at $447.92 on Wednesday. The firm has a 50 day moving average price of $325.43 and a 200-day moving average price of $322.18. Medpace Holdings, Inc. has a 52-week low of $250.05 and a 52-week high of $501.30. The firm has a market capitalization of $12.58 billion, a price-to-earnings ratio of 33.30, a PEG ratio of 2.85 and a beta of 1.47.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, July 21st. The company reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.10. Medpace had a return on equity of 67.66% and a net margin of 18.74%. The company had revenue of $603.31 million during the quarter, compared to analyst estimates of $537.70 million. During the same quarter last year, the company earned $2.75 EPS. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, sell-side analysts forecast that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on MEDP shares. Deutsche Bank Aktiengesellschaft upped their target price on Medpace from $270.00 to $430.00 and gave the company a “hold” rating in a report on Wednesday, July 23rd. William Blair reaffirmed a “market perform” rating on shares of Medpace in a research report on Wednesday, July 23rd. Truist Financial lifted their target price on shares of Medpace from $298.00 to $436.00 and gave the company a “hold” rating in a research note on Wednesday, July 23rd. Mizuho boosted their price target on shares of Medpace from $328.00 to $510.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Finally, TD Cowen restated a “sell” rating and issued a $366.00 price objective (up from $283.00) on shares of Medpace in a report on Wednesday, July 23rd. Three analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Medpace has an average rating of “Hold” and a consensus target price of $406.60.

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.