UMB Bank n.a. Increases Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

UMB Bank n.a. raised its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 70.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 490 shares of the company’s stock after acquiring an additional 203 shares during the period. UMB Bank n.a.’s holdings in Medpace were worth $149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Medpace by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 2,570,770 shares of the company’s stock valued at $854,087,000 after purchasing an additional 25,704 shares during the period. Invesco Ltd. lifted its stake in Medpace by 91.8% in the fourth quarter. Invesco Ltd. now owns 1,084,753 shares of the company’s stock valued at $360,387,000 after buying an additional 519,186 shares during the last quarter. Wasatch Advisors LP boosted its holdings in shares of Medpace by 3.1% in the fourth quarter. Wasatch Advisors LP now owns 936,842 shares of the company’s stock valued at $311,247,000 after acquiring an additional 28,161 shares during the period. Geode Capital Management LLC grew its position in shares of Medpace by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 656,130 shares of the company’s stock worth $218,031,000 after acquiring an additional 28,076 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in shares of Medpace by 15.0% during the fourth quarter. Bessemer Group Inc. now owns 576,044 shares of the company’s stock worth $191,379,000 after acquiring an additional 75,275 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Stock Performance

NASDAQ:MEDP opened at $302.31 on Thursday. Medpace Holdings, Inc. has a 1 year low of $250.05 and a 1 year high of $459.77. The stock has a fifty day moving average price of $298.15 and a two-hundred day moving average price of $323.26. The stock has a market capitalization of $8.69 billion, a price-to-earnings ratio of 23.94, a PEG ratio of 3.81 and a beta of 1.47.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.06 by $0.61. The business had revenue of $558.57 million during the quarter, compared to the consensus estimate of $528.38 million. Medpace had a net margin of 19.17% and a return on equity of 51.48%. During the same quarter last year, the firm posted $3.20 EPS. On average, analysts predict that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Analysts Set New Price Targets

MEDP has been the subject of a number of recent research reports. Truist Financial decreased their price target on shares of Medpace from $333.00 to $300.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. Leerink Partnrs upgraded shares of Medpace to a “hold” rating in a research note on Monday, March 24th. Robert W. Baird lowered their price target on Medpace from $340.00 to $313.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. William Blair restated a “market perform” rating on shares of Medpace in a research report on Tuesday, April 22nd. Finally, Mizuho decreased their price objective on Medpace from $400.00 to $355.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Medpace currently has a consensus rating of “Hold” and a consensus price target of $349.30.

Insider Activity

In related news, Director Fred B. Davenport, Jr. sold 1,712 shares of the firm’s stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $301.82, for a total value of $516,715.84. Following the completion of the transaction, the director now directly owns 2,998 shares of the company’s stock, valued at $904,856.36. This trade represents a 36.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.