Fifth Third Wealth Advisors LLC Makes New $292,000 Investment in Medpace Holdings, Inc. (NASDAQ:MEDP)

Fifth Third Wealth Advisors LLC acquired a new position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 709 shares of the company’s stock, valued at approximately $292,000.

Other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in shares of Medpace by 248,773.8% in the fourth quarter. International Assets Investment Management LLC now owns 104,527 shares of the company’s stock worth $32,041,000 after purchasing an additional 104,485 shares during the period. Cerity Partners LLC increased its position in shares of Medpace by 8.3% in the fourth quarter. Cerity Partners LLC now owns 2,463 shares of the company’s stock worth $755,000 after purchasing an additional 189 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Medpace by 71.3% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,056 shares of the company’s stock worth $630,000 after purchasing an additional 856 shares during the period. Strs Ohio increased its position in shares of Medpace by 4.4% in the fourth quarter. Strs Ohio now owns 4,501 shares of the company’s stock worth $1,379,000 after purchasing an additional 189 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Medpace by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,897 shares of the company’s stock valued at $2,114,000 after acquiring an additional 148 shares during the last quarter. Institutional investors own 77.98% of the company’s stock.

Insider Buying and Selling

In related news, CEO August J. Troendle sold 5,695 shares of Medpace stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $395.49, for a total value of $2,252,315.55. Following the transaction, the chief executive officer now directly owns 654,656 shares of the company’s stock, valued at $258,909,901.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Medpace news, CEO August J. Troendle sold 3,987 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $395.22, for a total value of $1,575,742.14. Following the transaction, the chief executive officer now directly owns 660,351 shares of the company’s stock, valued at $260,983,922.22. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO August J. Troendle sold 5,695 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $395.49, for a total value of $2,252,315.55. Following the completion of the transaction, the chief executive officer now directly owns 654,656 shares in the company, valued at $258,909,901.44. The disclosure for this sale can be found here. 20.30% of the stock is owned by insiders.

Medpace Stock Up 1.6 %

Shares of MEDP stock traded up $6.36 during mid-day trading on Wednesday, reaching $395.71. 122,667 shares of the stock traded hands, compared to its average volume of 244,742. The stock’s fifty day simple moving average is $400.07 and its two-hundred day simple moving average is $394.05. Medpace Holdings, Inc. has a 1-year low of $227.21 and a 1-year high of $459.77. The company has a market cap of $12.26 billion, a price-to-earnings ratio of 40.34, a price-to-earnings-growth ratio of 2.00 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, July 22nd. The company reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.21. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The firm had revenue of $528.10 million for the quarter, compared to analyst estimates of $528.41 million. During the same period last year, the firm posted $1.93 earnings per share. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, equities research analysts anticipate that Medpace Holdings, Inc. will post 11.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MEDP. Mizuho began coverage on Medpace in a research report on Tuesday, May 28th. They issued a “buy” rating and a $435.00 target price on the stock. StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Truist Financial began coverage on Medpace in a research report on Thursday, August 1st. They issued a “hold” rating and a $415.00 target price on the stock. Jefferies Financial Group upgraded Medpace from a “hold” rating to a “buy” rating and lifted their target price for the company from $340.00 to $450.00 in a research report on Tuesday, April 23rd. Finally, Robert W. Baird decreased their target price on Medpace from $469.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $423.00.

Medpace 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.