Nordea Investment Management AB Buys 2,792 Shares of Medpace Holdings, Inc. $MEDP

Key Points

• Nordea Investment Management AB increased its stake in Medpace Holdings by 4.8%, acquiring an additional 2,792 shares to own a total of 61,125 shares valued at approximately $19 million.
• Several institutional investors have recently made significant changes to their holdings in Medpace, with 77.98% of the company's stock now owned by institutional investors.
• Wall Street analysts are divided on Medpace, with a consensus rating of "Reduce" and price targets varying from $300 to $450, demonstrating uncertainty in the stock's valuation.

Nordea Investment Management AB boosted its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 4.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,125 shares of the company's stock after purchasing an additional 2,792 shares during the quarter. Nordea Investment Management AB owned about 0.22% of Medpace worth $19,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in MEDP. Geneos Wealth Management Inc. boosted its position in Medpace by 64.9% during the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company's stock valued at $29,000 after purchasing an additional 37 shares in the last quarter. Brooklyn Investment Group boosted its holdings in Medpace by 244.8% in the first quarter. Brooklyn Investment Group now owns 100 shares of the company's stock worth $30,000 after acquiring an additional 71 shares in the last quarter. Whittier Trust Co. boosted its holdings in Medpace by 47.3% in the first quarter. Whittier Trust Co. now owns 109 shares of the company's stock worth $33,000 after acquiring an additional 35 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Medpace in the first quarter worth about $60,000. Finally, IFP Advisors Inc boosted its holdings in Medpace by 223.3% in the second quarter. IFP Advisors Inc now owns 194 shares of the company's stock worth $61,000 after acquiring an additional 134 shares in the last quarter. Institutional investors own 77.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Truist Financial raised their price target on Medpace from $298.00 to $436.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. Jefferies Financial Group raised their price target on Medpace from $400.00 to $450.00 and gave the stock a "hold" rating in a report on Tuesday, September 9th. Cowen downgraded Medpace from a "buy" rating to a "sell" rating in a report on Wednesday, July 23rd. UBS Group downgraded Medpace from a "neutral" rating to a "sell" rating and raised their price target for the stock from $300.00 to $305.00 in a report on Tuesday, July 29th. Finally, Barclays raised their price target on Medpace from $300.00 to $450.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 23rd. Two analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $430.60.

Insider Transactions at Medpace

In other news, CEO August J. Troendle sold 48,487 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $451.69, for a total value of $21,901,093.03. Following the completion of the transaction, the chief executive officer directly owned 962,615 shares in the company, valued at $434,803,569.35. This trade represents a 4.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Stephen P. Ewald sold 3,000 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $450.00, for a total value of $1,350,000.00. Following the completion of the transaction, the general counsel owned 10,343 shares of the company's stock, valued at approximately $4,654,350. The trade was a 22.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 161,266 shares of company stock valued at $74,111,427. 20.30% of the stock is owned by company insiders.

Medpace Stock Up 1.3%

Shares of NASDAQ:MEDP opened at $528.07 on Monday. Medpace Holdings, Inc. has a 52-week low of $250.05 and a 52-week high of $547.15. The stock has a market cap of $14.83 billion, a price-to-earnings ratio of 39.26, a PEG ratio of 3.31 and a beta of 1.40. The business has a 50-day moving average price of $492.23 and a 200-day moving average price of $382.87.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The company reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.10. Medpace had a return on equity of 67.66% and a net margin of 18.74%.The firm had revenue of $603.31 million during the quarter, compared to analysts' expectations of $537.70 million. During the same period last year, the business posted $2.75 earnings per share. The company's revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, equities analysts anticipate that Medpace Holdings, Inc. will post 12.29 EPS for the current fiscal year.

About Medpace

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.

Want to see what other hedge funds are holding MEDP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.