Bank of America Corp DE Takes $116.89 Million Position in Medpace Holdings, Inc. $MEDP

Key Points

• Bank of America acquired a new $116.9 million stake in Medpace, purchasing 220,720 shares for approximately 0.79% ownership. Institutional investors collectively hold 77.98% of the company.
• Medpace insiders have been selling shares, including the CEO’s $5.45 million sale and a director’s $2.38 million sale; insiders sold $97.5 million worth of stock over the past 90 days.
• Medpace exceeded quarterly expectations, reporting $4.25 EPS and $707.3 million in revenue, up 17.2% year over year. Analysts maintain a consensus “Hold” rating with a $595.20 price target, below the stock’s stated $612.33 price.

Bank of America Corp DE purchased a new stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 220,720 shares of the company's stock, valued at approximately $116,891,000. Bank of America Corp DE owned about 0.79% of Medpace as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MEDP. Johnson Financial Group Inc. bought a new stake in shares of Medpace during the 2nd quarter valued at about $27,000. Elyxium Wealth LLC bought a new position in shares of Medpace in the 4th quarter worth approximately $30,000. Jones Financial Companies Lllp purchased a new position in shares of Medpace in the second quarter worth approximately $30,000. Allied Private Wealth LLC bought a new stake in Medpace during the second quarter valued at approximately $31,000. Finally, Kilter Group LLC bought a new stake in Medpace during the second quarter valued at approximately $31,000. 77.98% of the stock is currently owned by institutional investors.

Insider Activity at Medpace

In other news, Director Robert O. Kraft sold 3,858 shares of Medpace stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $617.81, for a total value of $2,383,510.98. Following the transaction, the director directly owned 955 shares of the company's stock, valued at $590,008.55. The trade was a 80.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO August J. Troendle sold 8,770 shares of the stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $621.29, for a total transaction of $5,448,713.30. Following the sale, the chief executive officer owned 515,153 shares of the company's stock, valued at $320,059,407.37. This trade represents a 1.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 159,212 shares of company stock valued at $97,515,460 over the last ninety days. Insiders own 20.50% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $535.00 price target on shares of Medpace in a research note on Thursday, July 23rd. TD Cowen increased their target price on shares of Medpace from $419.00 to $492.00 and gave the stock a "hold" rating in a report on Friday, July 24th. Barclays set a $600.00 target price on shares of Medpace in a report on Thursday, July 23rd. Leerink Partners set a $620.00 target price on Medpace in a research note on Thursday, July 23rd. Finally, BMO Capital Markets increased their price objective on shares of Medpace from $400.00 to $600.00 and gave the company a "market perform" rating in a report on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $595.20.

Medpace Stock Down 0.5%

Medpace stock opened at $612.33 on Friday. Medpace Holdings, Inc. has a 52-week low of $373.00 and a 52-week high of $677.90. The firm has a market capitalization of $17.09 billion, a price-to-earnings ratio of 35.89, a PEG ratio of 2.74 and a beta of 1.15. The company has a fifty day simple moving average of $585.86 and a 200-day simple moving average of $510.52.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The company reported $4.25 earnings per share for the quarter, beating the consensus estimate of $3.98 by $0.27. Medpace had a net margin of 17.67% and a return on equity of 110.15%. The firm had revenue of $707.33 million during the quarter, compared to the consensus estimate of $689.51 million. During the same quarter last year, the firm earned $3.10 EPS. The firm's revenue for the quarter was up 17.2% on a year-over-year basis. Medpace has set its FY 2026 guidance at 17.250-17.950 EPS. On average, research analysts anticipate that Medpace Holdings, Inc. will post 17.54 EPS for the current fiscal year.

Medpace Profile

Medpace Holdings, Inc is a global contract research organization (CRO) that provides outsourced clinical development services to pharmaceutical, biotechnology and medical device companies. The company supports sponsors throughout the drug and medical product development process, from early-stage planning and clinical trial design through study execution, regulatory submission and post-marketing activities.

Its services include clinical trial management, clinical monitoring, data management, biostatistics, medical writing, pharmacovigilance, regulatory consulting and central laboratory services.

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