Medpace (NASDAQ:MEDP) VP Susan Burwig Sells 16,060 Shares of Company Stock

Medpace Holdings, Inc. (NASDAQ:MEDP) VP Susan Burwig sold 16,060 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $677.00, for a total transaction of $10,872,620.00. Following the sale, the vice president directly owned 57,624 shares in the company, valued at approximately $39,011,448. The trade was a 21.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Medpace Price Performance

Shares of NASDAQ:MEDP traded up $18.89 during trading on Wednesday, hitting $692.68. 301,484 shares of the company were exchanged, compared to its average volume of 331,874. The firm’s 50 day moving average price is $614.90 and its 200-day moving average price is $530.18. Medpace Holdings, Inc. has a 12-month low of $373.00 and a 12-month high of $693.97. The stock has a market capitalization of $19.37 billion, a P/E ratio of 38.40, a PEG ratio of 2.90 and a beta of 1.18.

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

Hedge Funds Weigh In On Medpace

Hedge funds have recently modified their holdings of the business. Johnson Financial Group Inc. acquired a new position in shares of Medpace in the 2nd quarter valued at $27,000. Jones Financial Companies Lllp acquired a new stake in Medpace during the 2nd quarter worth $30,000. Allied Private Wealth LLC acquired a new stake in Medpace during the 2nd quarter worth $31,000. Kilter Group LLC acquired a new stake in Medpace during the 2nd quarter worth $31,000. Finally, Basecamp Wealth Advisors LLC grew its position in Medpace by 187.5% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 69 shares of the company’s stock worth $33,000 after purchasing an additional 45 shares during the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MEDP. Truist Financial upped their price objective on shares of Medpace from $609.00 to $633.00 and gave the company a “hold” rating in a research note on Friday, October 23rd. Leerink Partners set a $620.00 target price on Medpace in a research report on Thursday, July 23rd. Jefferies Financial Group reissued a “hold” rating on shares of Medpace in a report on Monday, September 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $535.00 target price on shares of Medpace in a report on Thursday, July 23rd. Finally, Barclays upped their target price on Medpace from $625.00 to $675.00 and gave the company an “equal weight” rating in a research report on Friday, October 23rd. Three investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Medpace currently has an average rating of “Hold” and a consensus target price of $649.27.

Medpace Company Profile

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.