Insider Selling: Medpace (NASDAQ:MEDP) VP Sells 3,940 Shares of Stock

Medpace Holdings, Inc. (NASDAQ:MEDP) VP Susan Burwig sold 3,940 shares of Medpace stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $677.00, for a total transaction of $2,667,380.00. Following the completion of the sale, the vice president owned 54,012 shares of the company’s stock, valued at approximately $36,566,124. This trade represents a 6.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Medpace Price Performance

MEDP traded up $18.89 during trading on Wednesday, hitting $692.68. The company had a trading volume of 301,484 shares, compared to its average volume of 331,874. The company has a market cap of $19.37 billion, a PE ratio of 38.40, a P/E/G ratio of 2.90 and a beta of 1.18. The business has a 50-day moving average of $614.90 and a 200-day moving average of $530.18. Medpace Holdings, Inc. has a 1-year low of $373.00 and a 1-year high of $693.97.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Wednesday, October 21st. The company reported $4.84 EPS for the quarter, beating analysts’ consensus estimates of $4.44 by $0.40. The firm had revenue of $716.00 million for the quarter, compared to the consensus estimate of $714.47 million. Medpace had a net margin of 18.24% and a return on equity of 99.76%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.86 EPS. Research analysts forecast that Medpace Holdings, Inc. will post 18.06 earnings per share for the current year.

Hedge Funds Weigh In On Medpace

A number of hedge funds have recently added to or reduced their stakes in MEDP. BlackRock Inc. bought a new stake in Medpace during the second quarter valued at $1,323,047,000. State Street Corp lifted its position in shares of Medpace by 4.2% in the 2nd quarter. State Street Corp now owns 710,895 shares of the company’s stock worth $376,483,000 after buying an additional 28,666 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Medpace by 8.3% in the 1st quarter. Renaissance Technologies LLC now owns 504,668 shares of the company’s stock worth $242,337,000 after buying an additional 38,760 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Medpace by 5.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 395,769 shares of the company’s stock worth $190,044,000 after buying an additional 20,736 shares during the last quarter. Finally, Madison Asset Management LLC acquired a new position in shares of Medpace in the 2nd quarter valued at about $128,956,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on MEDP. Robert W. Baird set a $699.00 price target on shares of Medpace in a research report on Friday, October 23rd. TD Cowen boosted their price objective on Medpace from $492.00 to $673.00 and gave the company a “hold” rating in a report on Friday, October 23rd. Truist Financial boosted their price objective on Medpace from $609.00 to $633.00 and gave the company a “hold” rating in a report on Friday, October 23rd. Barclays upped their price objective on Medpace from $625.00 to $675.00 and gave the company an “equal weight” rating in a research note on Friday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $535.00 target price on shares of Medpace in a report on Thursday, July 23rd. Three analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $649.27.

About Medpace

Medpace Holdings, Inc is a contract research organization (CRO) that provides clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports sponsors throughout the development process, from early-stage planning and regulatory submissions through clinical trial execution, data management, analysis and reporting.

Medpace’s services include Phase I through Phase IV clinical research, clinical monitoring, biostatistics, data management, medical writing, pharmacovigilance, regulatory consulting and central laboratory services.