Insider Selling: Medpace (NASDAQ:MEDP) General Counsel Sells 1,245 Shares of Stock

Key Points

• Medpace General Counsel Stephen Ewald sold 1,245 shares at an average price of $690, generating $859,050 and reducing his direct stake by 6.12% to 19,098 shares.
• Medpace reported quarterly earnings of $4.84 per share, beating estimates by $0.40, while revenue rose 8.5% year over year to $716 million.
• The stock traded at $648.14, near analysts’ consensus price target of $649.27; Wall Street’s overall rating remains “Hold,” with three Buy ratings and ten Hold ratings.

Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report) General Counsel Stephen Ewald sold 1,245 shares of the business's stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $690.00, for a total transaction of $859,050.00. Following the sale, the general counsel directly owned 19,098 shares in the company, valued at $13,177,620. The trade was a 6.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Medpace Price Performance

Shares of NASDAQ:MEDP traded down $3.87 during trading on Monday, hitting $648.14. 198,718 shares of the company were exchanged, compared to its average volume of 330,315. Medpace Holdings, Inc. has a 52-week low of $373.00 and a 52-week high of $693.97. The stock has a 50 day moving average of $619.12 and a 200 day moving average of $531.32. The company has a market cap of $18.13 billion, a PE ratio of 35.93, a P/E/G ratio of 2.53 and a beta of 1.18.

Medpace (NASDAQ:MEDP - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $716.00 million during the quarter, compared to analysts' expectations of $714.47 million. During the same period in the previous year, the business earned $3.86 earnings per share. The firm's quarterly revenue was up 8.5% compared to the same quarter last year. Sell-side analysts forecast that Medpace Holdings, Inc. will post 18.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MEDP shares. Jefferies Financial Group reiterated a "hold" rating on shares of Medpace in a research report on Monday, September 14th. Truist Financial increased their price target on shares of Medpace from $609.00 to $633.00 and gave the stock a "hold" rating in a report on Friday, October 23rd. Leerink Partners set a $620.00 price objective on shares of Medpace in a research report on Thursday, July 23rd. Mizuho set a $730.00 price objective on shares of Medpace in a research note on Friday, October 23rd. 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 research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Medpace presently has a consensus rating of "Hold" and a consensus price target of $649.27.

Institutional Investors Weigh In On Medpace

Large investors have recently added to or reduced their stakes in the business. Legacies Wealth LLC bought a new stake in shares of Medpace during the 3rd quarter valued at about $112,000. Kestra Advisory Services LLC purchased a new position in shares of Medpace during the third quarter worth about $216,000. Chicago Partners Investment Group LLC grew its holdings in shares of Medpace by 10.9% during the third quarter. Chicago Partners Investment Group LLC now owns 2,085 shares of the company's stock worth $1,395,000 after purchasing an additional 205 shares in the last quarter. Ascent Group LLC grew its holdings in shares of Medpace by 0.8% during the third quarter. Ascent Group LLC now owns 20,586 shares of the company's stock worth $12,849,000 after purchasing an additional 173 shares in the last quarter. Finally, Provenance Wealth Advisors LLC bought a new position in shares of Medpace in the third quarter worth approximately $463,000. Institutional investors own 77.98% of the company's stock.

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.

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