BI Asset Management Fondsmaeglerselskab A S Sells 2,269 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

BI Asset Management Fondsmaeglerselskab A S lessened its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 12.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,893 shares of the company’s stock after selling 2,269 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned about 0.05% of Medpace worth $5,280,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MEDP. Invesco Ltd. lifted its stake in shares of Medpace by 91.8% in the fourth quarter. Invesco Ltd. now owns 1,084,753 shares of the company’s stock valued at $360,387,000 after buying an additional 519,186 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Medpace by 34,497.4% in the 4th quarter. Proficio Capital Partners LLC now owns 242,528 shares of the company’s stock worth $80,575,000 after acquiring an additional 241,827 shares during the last quarter. Raymond James Financial Inc. bought a new position in Medpace in the 4th quarter valued at about $78,144,000. Norges Bank acquired a new position in Medpace during the 4th quarter valued at about $69,859,000. Finally, GW&K Investment Management LLC increased its holdings in Medpace by 93.9% during the 4th quarter. GW&K Investment Management LLC now owns 275,460 shares of the company’s stock worth $91,516,000 after purchasing an additional 133,379 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MEDP has been the topic of several analyst reports. TD Cowen cut Medpace from a “buy” rating to a “hold” rating and cut their target price for the company from $370.00 to $328.00 in a research report on Monday, April 14th. Leerink Partners started coverage on shares of Medpace in a report on Monday, March 24th. They set a “market perform” rating and a $330.00 price objective on the stock. Robert W. Baird increased their target price on shares of Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Truist Financial dropped their price target on shares of Medpace from $347.00 to $333.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Finally, Mizuho reduced their price objective on shares of Medpace from $400.00 to $355.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Medpace currently has an average rating of “Hold” and an average price target of $357.50.

Medpace Trading Down 0.1 %

Shares of NASDAQ MEDP opened at $296.28 on Monday. The stock has a fifty day simple moving average of $318.52 and a two-hundred day simple moving average of $333.25. Medpace Holdings, Inc. has a 1-year low of $272.00 and a 1-year high of $459.77. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of 23.46, a price-to-earnings-growth ratio of 3.81 and a beta of 1.46.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, February 10th. The company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $2.96 by $0.71. Medpace had a return on equity of 51.48% and a net margin of 19.17%. Analysts forecast that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Medpace Company 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.