Medpace Holdings, Inc. (NASDAQ:MEDP) Stock Holdings Increased by Zions Bancorporation N.A.

Zions Bancorporation N.A. lifted its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 18.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,118 shares of the company’s stock after purchasing an additional 1,105 shares during the quarter. Zions Bancorporation N.A.’s holdings in Medpace were worth $2,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in MEDP. KBC Group NV raised its position in Medpace by 5.5% during the third quarter. KBC Group NV now owns 1,213 shares of the company’s stock valued at $405,000 after acquiring an additional 63 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Medpace by 6.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 45,473 shares of the company’s stock valued at $15,179,000 after acquiring an additional 2,675 shares in the last quarter. Cumberland Partners Ltd raised its position in Medpace by 45.8% during the third quarter. Cumberland Partners Ltd now owns 3,500 shares of the company’s stock valued at $1,168,000 after acquiring an additional 1,100 shares in the last quarter. Baillie Gifford & Co. raised its position in Medpace by 175.6% during the third quarter. Baillie Gifford & Co. now owns 14,876 shares of the company’s stock valued at $4,966,000 after acquiring an additional 9,478 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in Medpace during the third quarter valued at approximately $276,000. 77.98% of the stock is owned by hedge funds and other institutional investors.

Medpace Price Performance

MEDP opened at $334.84 on Friday. Medpace Holdings, Inc. has a fifty-two week low of $268.80 and a fifty-two week high of $459.77. The firm’s fifty day moving average price is $342.27 and its two-hundred day moving average price is $376.61. The company has a market capitalization of $10.41 billion, a P/E ratio of 29.32, a P/E/G ratio of 2.00 and a beta of 1.37.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, October 21st. The company reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.24. Medpace had a net margin of 17.66% and a return on equity of 50.87%. The firm had revenue of $533.32 million for the quarter, compared to the consensus estimate of $540.99 million. During the same quarter in the previous year, the company earned $2.22 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts expect that Medpace Holdings, Inc. will post 11.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MEDP shares. Guggenheim dropped their price target on shares of Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. UBS Group lowered shares of Medpace from a “buy” rating to a “neutral” rating and dropped their price target for the company from $420.00 to $350.00 in a research report on Friday, September 27th. Baird R W lowered shares of Medpace from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Robert W. Baird lowered shares of Medpace from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $413.00 to $349.00 in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $380.00.

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.