Zions Bancorporation N.A. Acquires 1,105 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

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

A number of other institutional investors have also made changes to their positions in the business. Signaturefd LLC grew its position in shares of Medpace by 4.9% during the 2nd quarter. Signaturefd LLC now owns 559 shares of the company’s stock worth $230,000 after buying an additional 26 shares during the period. Wealth Alliance raised its stake in Medpace by 2.9% in the 2nd quarter. Wealth Alliance now owns 970 shares of the company’s stock valued at $399,000 after acquiring an additional 27 shares during the period. Commonwealth Equity Services LLC increased its position in Medpace by 0.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 4,340 shares of the company’s stock worth $1,787,000 after buying an additional 32 shares during the period. Nations Financial Group Inc. IA ADV grew its holdings in shares of Medpace by 1.7% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 2,376 shares of the company’s stock worth $793,000 after purchasing an additional 39 shares in the last quarter. Finally, Journey Advisory Group LLC grew its holdings in shares of Medpace by 1.9% during the 2nd quarter. Journey Advisory Group LLC now owns 2,390 shares of the company’s stock worth $984,000 after purchasing an additional 44 shares in the last quarter. 77.98% of the stock is owned by institutional investors.

Medpace Stock Performance

Shares of NASDAQ MEDP opened at $334.84 on Friday. The firm’s 50 day moving average price is $342.27 and its 200-day moving average price is $376.61. Medpace Holdings, Inc. has a 52-week low of $268.80 and a 52-week high of $459.77. The company has a market cap of $10.41 billion, a PE ratio of 29.32, a P/E/G ratio of 2.00 and a beta of 1.37.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on MEDP. Jefferies Financial Group downgraded Medpace from a “buy” rating to a “hold” rating and dropped their target price for the company from $415.00 to $345.00 in a research report on Wednesday, September 25th. UBS Group cut Medpace from a “buy” rating to a “neutral” rating and cut their target price for the company from $420.00 to $350.00 in a research report on Friday, September 27th. Truist Financial cut their target price on Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. Robert W. Baird cut Medpace from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $413.00 to $349.00 in a research report on Wednesday, October 23rd. Finally, StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $380.00.

Medpace Company 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.