8,894 Shares in Medpace Holdings, Inc. (NASDAQ:MEDP) Acquired by Zions Bancorporation National Association UT

Key Points

• Zions Bancorporation National Association UT acquired a new position in Medpace Holdings with 8,894 shares valued at approximately $2.71 million in the first quarter.
• Brokerages are optimistic about Medpace, with several firms raising their price targets significantly; Mizuho set a new target of $510.00, while TD Cowen maintained a sell rating.
• Insider activity revealed significant sales, with executives selling over 112,000 shares totaling around $51 million in the last ninety days, reducing their stakes in the company.

Zions Bancorporation National Association UT purchased a new stake in Medpace Holdings, Inc. (NASDAQ:MEDP - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 8,894 shares of the company's stock, valued at approximately $2,710,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Whittier Trust Co. raised its stake in Medpace by 47.3% in the 1st quarter. Whittier Trust Co. now owns 109 shares of the company's stock valued at $33,000 after purchasing an additional 35 shares during the last quarter. Colonial Trust Co SC raised its stake in Medpace by 150.0% in the 4th quarter. Colonial Trust Co SC now owns 175 shares of the company's stock valued at $58,000 after purchasing an additional 105 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Medpace in the 1st quarter valued at $60,000. Assetmark Inc. raised its stake in Medpace by 24.9% in the 1st quarter. Assetmark Inc. now owns 216 shares of the company's stock valued at $66,000 after purchasing an additional 43 shares during the last quarter. Finally, True Wealth Design LLC raised its stake in Medpace by 52.7% in the 4th quarter. True Wealth Design LLC now owns 258 shares of the company's stock valued at $86,000 after purchasing an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company's stock.

Medpace Trading Up 3.6%

Medpace stock traded up $15.42 during midday trading on Monday, reaching $449.77. 567,361 shares of the stock traded hands, compared to its average volume of 755,462. The company has a 50-day simple moving average of $350.18 and a two-hundred day simple moving average of $327.83. Medpace Holdings, Inc. has a 12-month low of $250.05 and a 12-month high of $501.30. The firm has a market cap of $12.63 billion, a PE 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 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 business posted $2.75 EPS. Medpace's revenue for the quarter was up 14.2% on a year-over-year basis. Equities research analysts anticipate that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

MEDP has been the subject of a number of recent research reports. Barclays raised their target price on Medpace from $300.00 to $450.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 23rd. Cowen downgraded Medpace from a "buy" rating to a "sell" rating in a research note on Wednesday, July 23rd. William Blair reaffirmed a "market perform" rating on shares of Medpace in a research note on Wednesday, July 23rd. UBS Group downgraded Medpace from a "neutral" rating to a "sell" rating and raised their target price for the stock from $300.00 to $305.00 in a research note on Tuesday, July 29th. Finally, Mizuho raised their target price on Medpace from $328.00 to $510.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Medpace presently has a consensus rating of "Hold" and an average target price of $406.60.

Insider Activity at Medpace

In other news, General Counsel Stephen P. Ewald sold 3,000 shares of Medpace stock in a transaction dated 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 transaction, 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 filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin M. Brady sold 12,000 shares of Medpace stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $454.23, for a total value of $5,450,760.00. Following the completion of the transaction, the chief financial officer owned 6,000 shares of the company's stock, valued at $2,725,380. The trade was a 66.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 112,788 shares of company stock worth $51,018,354 over the last ninety days. Company insiders own 20.30% of the company's stock.

Medpace 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.