US Bancorp DE Sells 847 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

US Bancorp DE trimmed its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) by 10.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,388 shares of the company's stock after selling 847 shares during the period. US Bancorp DE's holdings in Medpace were worth $2,251,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of MEDP. Dynamic Technology Lab Private Ltd acquired a new position in Medpace in the 4th quarter worth about $273,000. Aviva PLC increased its position in Medpace by 2.7% in the 4th quarter. Aviva PLC now owns 1,833 shares of the company's stock worth $609,000 after purchasing an additional 48 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Medpace by 2.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 101,727 shares of the company's stock worth $33,797,000 after purchasing an additional 2,811 shares during the last quarter. Russell Investments Group Ltd. increased its position in Medpace by 50.6% in the 4th quarter. Russell Investments Group Ltd. now owns 31,531 shares of the company's stock worth $10,476,000 after purchasing an additional 10,588 shares during the last quarter. Finally, Invesco Ltd. increased its position in Medpace by 91.8% in the 4th quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock worth $360,387,000 after purchasing an additional 519,186 shares during the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.

Medpace Trading Up 1.3%

NASDAQ:MEDP traded up $5.56 during mid-day trading on Friday, hitting $434.35. 281,122 shares of the company's stock traded hands, compared to its average volume of 756,088. The firm has a 50 day moving average of $347.14 and a two-hundred day moving average of $327.23. Medpace Holdings, Inc. has a 12 month low of $250.05 and a 12 month high of $501.30. The firm has a market capitalization of $12.20 billion, a price-to-earnings ratio of 32.29, a price-to-earnings-growth ratio of 2.73 and a beta of 1.42.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its earnings results on Monday, July 21st. The company reported $3.10 earnings per share for the quarter, beating 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 the consensus estimate of $537.70 million. During the same quarter in the prior year, the company earned $2.75 EPS. The firm's revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, equities research analysts expect that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Insider Activity

In other Medpace news, General Counsel Stephen P. Ewald sold 3,000 shares of the firm's stock in a transaction that occurred on 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 sale, the general counsel owned 10,343 shares in the company, valued at approximately $4,654,350. This trade represents a 22.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Susan E. Burwig sold 7,500 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $450.14, for a total value of $3,376,050.00. Following the completion of the sale, the vice president owned 57,500 shares of the company's stock, valued at $25,883,050. This represents a 11.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 112,788 shares of company stock worth $51,018,354 over the last 90 days. Company insiders own 20.30% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. TD Cowen reaffirmed a "sell" rating and issued a $366.00 target price (up from $283.00) on shares of Medpace in a research report on Wednesday, July 23rd. Robert W. Baird upped their target price on Medpace from $313.00 to $490.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Cowen lowered Medpace from a "buy" rating to a "sell" rating in a research report on Wednesday, July 23rd. William Blair reaffirmed a "market perform" rating on shares of Medpace in a research report on Wednesday, July 23rd. Finally, Truist Financial upped their price target on Medpace from $298.00 to $436.00 and gave the stock a "hold" rating in a research note on Wednesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $406.60.

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.