Skandinaviska Enskilda Banken AB publ Sells 25,800 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Key Points

• Skandinaviska Enskilda Banken AB publ reduced its stock position in Medpace Holdings, Inc. by 15.2%, owning 143,897 shares worth approximately $43.84 million after selling 25,800 shares in the first quarter.
• Analysts have varied outlooks on Medpace, with Barclays raising the price target from $300 to $450 and Cowen downgrading from a "buy" to a "sell" rating, leading to an average stock rating of "Hold" with a target price of $395.60.
• The stock was up 4.2% and traded at $455.68, while the company reported strong quarterly earnings with a 14.2% increase in revenue year-over-year, beating expectations with $3.10 EPS.

Skandinaviska Enskilda Banken AB publ lowered its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 15.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,897 shares of the company's stock after selling 25,800 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.50% of Medpace worth $43,837,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Sone Capital Management LLC acquired a new stake in shares of Medpace during the fourth quarter worth $1,318,000. GAMMA Investing LLC increased its holdings in Medpace by 37.1% during the 1st quarter. GAMMA Investing LLC now owns 307 shares of the company's stock worth $94,000 after purchasing an additional 83 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of Medpace by 347.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 4,248 shares of the company's stock valued at $1,411,000 after purchasing an additional 3,299 shares in the last quarter. Fundsmith LLP bought a new stake in shares of Medpace in the fourth quarter valued at about $42,372,000. Finally, Park Avenue Securities LLC boosted its position in shares of Medpace by 1.8% during the first quarter. Park Avenue Securities LLC now owns 2,749 shares of the company's stock worth $838,000 after buying an additional 48 shares during the period. Institutional investors own 77.98% of the company's stock.

Medpace Stock Performance

NASDAQ:MEDP traded down $8.19 during mid-day trading on Friday, hitting $447.49. The stock had a trading volume of 763,602 shares, compared to its average volume of 683,834. Medpace Holdings, Inc. has a twelve month low of $250.05 and a twelve month high of $501.30. The stock has a market cap of $12.57 billion, a price-to-earnings ratio of 33.27, a PEG ratio of 2.86 and a beta of 1.47. The company's 50 day simple moving average is $319.66 and its 200 day simple moving average is $320.82.

Medpace (NASDAQ:MEDP - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The company reported $3.10 earnings per share (EPS) 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 analysts' expectations of $537.70 million. During the same period last year, the firm posted $2.75 earnings per share. The business's revenue was up 14.2% on a year-over-year basis. As a group, equities analysts forecast that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

MEDP has been the topic of a number of recent research reports. Mizuho lifted their target price on Medpace from $328.00 to $510.00 and gave the company an "outperform" rating in a research report on Friday. Robert W. Baird upped their price target on Medpace from $313.00 to $490.00 and gave the stock a "neutral" rating in a research report on Wednesday. Cowen downgraded shares of Medpace from a "buy" rating to a "sell" rating in a report on Wednesday. Barclays boosted their price objective on shares of Medpace from $300.00 to $450.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Finally, Truist Financial raised their target price on shares of Medpace from $298.00 to $436.00 and gave the company a "hold" rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Medpace currently has a consensus rating of "Hold" and a consensus target price of $411.10.

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.