Medpace Holdings, Inc. (NASDAQ:MEDP) Stake Boosted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 8.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,122 shares of the company’s stock after purchasing an additional 545 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Medpace were worth $2,377,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Cetera Advisors LLC increased its position in Medpace by 162.4% in the first quarter. Cetera Advisors LLC now owns 2,608 shares of the company’s stock worth $1,054,000 after buying an additional 1,614 shares during the period. Baillie Gifford & Co. increased its holdings in shares of Medpace by 175.6% in the 3rd quarter. Baillie Gifford & Co. now owns 14,876 shares of the company’s stock worth $4,966,000 after acquiring an additional 9,478 shares during the period. Oppenheimer Asset Management Inc. lifted its position in Medpace by 6.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 45,473 shares of the company’s stock valued at $15,179,000 after purchasing an additional 2,675 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in Medpace in the 3rd quarter valued at about $1,306,000. Finally, US Bancorp DE grew its position in Medpace by 59.3% in the 3rd quarter. US Bancorp DE now owns 8,100 shares of the company’s stock worth $2,704,000 after purchasing an additional 3,016 shares during the last quarter. Institutional investors own 77.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Robert W. Baird boosted their price target on Medpace from $349.00 to $354.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Jefferies Financial Group lowered Medpace from a “buy” rating to a “hold” rating and lowered their price target for the company from $415.00 to $345.00 in a report on Wednesday, September 25th. TD Cowen reduced their price objective on shares of Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, UBS Group cut shares of Medpace from a “buy” rating to a “neutral” rating and lowered their target price for the company from $420.00 to $350.00 in a research note on Friday, September 27th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $380.56.

Medpace Stock Performance

Shares of NASDAQ:MEDP opened at $339.27 on Wednesday. The stock has a market capitalization of $10.54 billion, a price-to-earnings ratio of 29.71, a PEG ratio of 1.89 and a beta of 1.37. Medpace Holdings, Inc. has a 1-year low of $273.14 and a 1-year high of $459.77. The company has a 50 day moving average price of $337.10 and a 200 day moving average price of $370.24.

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

About Medpace

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.