Swedbank AB Takes $7.48 Million Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Swedbank AB purchased a new position in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 22,400 shares of the company's stock, valued at approximately $7,477,000. Swedbank AB owned about 0.07% of Medpace as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of MEDP. Westwind Capital increased its stake in Medpace by 800.1% in the 2nd quarter. Westwind Capital now owns 380,929 shares of the company's stock worth $156,886,000 after purchasing an additional 338,610 shares in the last quarter. Clearbridge Investments LLC lifted its position in Medpace by 55.1% in the 2nd quarter. Clearbridge Investments LLC now owns 403,892 shares of the company's stock worth $166,343,000 after buying an additional 143,481 shares in the last quarter. Renaissance Technologies LLC increased its position in Medpace by 38.3% in the 2nd quarter. Renaissance Technologies LLC now owns 443,588 shares of the company's stock worth $182,692,000 after purchasing an additional 122,800 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Medpace by 62.3% in the 2nd quarter. AQR Capital Management LLC now owns 310,650 shares of the company's stock valued at $127,941,000 after buying an additional 119,257 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Medpace by 1,028.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 116,683 shares of the company's stock valued at $48,056,000 after purchasing an additional 106,343 shares in the last quarter. Institutional investors own 77.98% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on MEDP. TD Cowen cut their target price on Medpace from $413.00 to $372.00 and set a "buy" rating on the stock in a report on Wednesday, October 23rd. UBS Group cut shares of Medpace from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $420.00 to $350.00 in a research note on Friday, September 27th. Truist Financial lowered their target price on shares of Medpace from $415.00 to $397.00 and set a "hold" rating on the stock in a research note on Monday, October 14th. Redburn Atlantic assumed coverage on Medpace in a research report on Monday, October 14th. They issued a "buy" rating and a $404.00 price objective for the company. Finally, Jefferies Financial Group lowered shares of Medpace from a "buy" rating to a "hold" rating and dropped their target price for the stock from $415.00 to $345.00 in a research report on Wednesday, September 25th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Medpace currently has a consensus rating of "Hold" and a consensus target price of $380.56.

Medpace Trading Down 0.8 %

Shares of MEDP opened at $335.21 on Wednesday. The company's fifty day simple moving average is $339.37 and its 200 day simple moving average is $372.21. Medpace Holdings, Inc. has a 1-year low of $268.80 and a 1-year high of $459.77. The company has a market cap of $10.42 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 1.87 and a beta of 1.37.

Medpace (NASDAQ:MEDP - Get Free Report) last released its quarterly earnings data on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.24. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The company had revenue of $533.32 million for the quarter, compared to analyst estimates of $540.99 million. During the same period in the previous year, the business earned $2.22 EPS. Medpace's revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, research analysts forecast that Medpace Holdings, Inc. will post 11.93 earnings per share for the current year.

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.