Medpace Holdings, Inc. (NASDAQ:MEDP) Holdings Reduced by Swiss National Bank

Posted by Defense World Staff on Aug 26th, 2023

Swiss National Bank reduced its stake in Medpace Holdings, Inc. (NASDAQ:MEDP – Free Report) by 10.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,700 shares of the company’s stock after selling 6,200 shares during the period. Swiss National Bank owned 0.18% of Medpace worth $10,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in MEDP. Asset Management One Co. Ltd. acquired a new stake in shares of Medpace in the 4th quarter worth approximately $27,000. Altshuler Shaham Ltd acquired a new stake in shares of Medpace in the 4th quarter worth approximately $27,000. Rockefeller Capital Management L.P. lifted its stake in shares of Medpace by 361.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 143 shares of the company’s stock worth $30,000 after acquiring an additional 112 shares during the period. Picton Mahoney Asset Management acquired a new stake in shares of Medpace in the 4th quarter worth approximately $42,000. Finally, OLD Mission Capital LLC acquired a new stake in Medpace during the fourth quarter valued at approximately $42,000. 82.14% of the stock is owned by institutional investors and hedge funds.

Medpace Stock Performance

Medpace stock opened at $259.82 on Friday. The firm has a market cap of $7.94 billion, a PE ratio of 31.04 and a beta of 1.37. The firm’s 50 day moving average price is $246.20 and its two-hundred day moving average price is $216.49. Medpace Holdings, Inc. has a twelve month low of $141.30 and a twelve month high of $269.43.

Medpace (NASDAQ:MEDP – Get Free Report) last released its quarterly earnings data on Monday, July 24th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.03. The firm had revenue of $460.90 million for the quarter, compared to analyst estimates of $433.75 million. Medpace had a net margin of 16.06% and a return on equity of 72.88%. The company’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 EPS. Equities analysts anticipate that Medpace Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. StockNews.com raised shares of Medpace from a “hold” rating to a “buy” rating in a research note on Friday. Guggenheim increased their target price on shares of Medpace from $252.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. UBS Group upped their price target on shares of Medpace from $215.00 to $270.00 in a research report on Wednesday, July 26th. 22nd Century Group restated an “upgrade” rating on shares of Medpace in a research report on Monday, May 8th. Finally, Robert W. Baird upped their price target on shares of Medpace from $240.00 to $260.00 in a research report on Wednesday, July 26th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $267.67.

Get Our Latest Analysis on Medpace

Insider Transactions at Medpace

In other news, CEO August J. Troendle sold 49,347 shares of the stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $220.85, for a total transaction of $10,898,284.95. Following the transaction, the chief executive officer now owns 6,233,019 shares in the company, valued at approximately $1,376,562,246.15. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, General Counsel Stephen P. Ewald sold 21,850 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $254.39, for a total transaction of $5,558,421.50. Following the transaction, the general counsel now owns 14,854 shares in the company, valued at approximately $3,778,709.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO August J. Troendle sold 49,347 shares of the company’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $220.85, for a total transaction of $10,898,284.95. Following the sale, the chief executive officer now directly owns 6,233,019 shares of the company’s stock, valued at $1,376,562,246.15. The disclosure for this sale can be found here. Insiders have sold a total of 91,979 shares of company stock worth $21,903,170 in the last 90 days. 25.70% of the stock is owned by insiders.

About Medpace

(Free Report)

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. It offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. The company also 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.