Medpace (NASDAQ:MEDP) General Counsel Sells $859,050.00 in Stock

Medpace Holdings, Inc. (NASDAQ:MEDP) General Counsel Stephen Ewald sold 1,245 shares of the business’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $690.00, for a total value of $859,050.00. Following the transaction, the general counsel directly owned 19,098 shares of the company’s stock, valued at $13,177,620. This trade represents a 6.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Medpace Stock Down 1.0%

Shares of MEDP stock opened at $656.77 on Thursday. Medpace Holdings, Inc. has a twelve month low of $373.00 and a twelve month high of $693.97. The company has a market cap of $18.37 billion, a P/E ratio of 36.41, a P/E/G ratio of 2.57 and a beta of 1.12. The business has a fifty day simple moving average of $621.39 and a 200 day simple moving average of $531.95.

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

Hedge Funds Weigh In On Medpace

Several large investors have recently bought and sold shares of MEDP. Lido Advisors LLC lifted its position in shares of Medpace by 13.3% in the 3rd quarter. Lido Advisors LLC now owns 1,031 shares of the company’s stock worth $644,000 after purchasing an additional 121 shares during the period. New York Life Investment Management LLC boosted its stake in shares of Medpace by 13.0% in the 3rd quarter. New York Life Investment Management LLC now owns 3,354 shares of the company’s stock valued at $2,094,000 after purchasing an additional 385 shares during the last quarter. Gen Wealth Partners Inc bought a new stake in shares of Medpace in the 3rd quarter valued at $38,000. Nemes Rush Group LLC increased its position in shares of Medpace by 8.5% during the third quarter. Nemes Rush Group LLC now owns 649 shares of the company’s stock worth $405,000 after buying an additional 51 shares during the period. Finally, Gryphon Financial Partners LLC acquired a new stake in shares of Medpace during the third quarter worth $207,000. 77.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MEDP. Barclays raised their price target on shares of Medpace from $625.00 to $675.00 and gave the company an “equal weight” rating in a research note on Friday, October 23rd. BMO Capital Markets upped their price objective on shares of Medpace from $600.00 to $670.00 and gave the stock a “market perform” rating in a research report on Monday, October 26th. Leerink Partners set a $620.00 price objective on shares of Medpace in a research note on Thursday, July 23rd. Royal Bank Of Canada raised their target price on shares of Medpace from $484.00 to $692.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Finally, Weiss Ratings raised shares of Medpace from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. 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 stock currently has a consensus 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.