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

Key Points

• Medpace VP Susan Burwig sold 3,940 shares at an average price of $677, generating approximately $2.67 million; her remaining stake totaled 54,012 shares.
• Medpace shares rose 2.8% to $692.68, near their 52-week high. The company’s latest quarterly results exceeded expectations, with EPS of $4.84 and revenue of $716 million, up 8.5% year over year.
• Analysts maintain a consensus “Hold” rating with an average price target of $649.27, despite some recent target increases; institutional investors own approximately 78% of the stock.

Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report) VP Susan Burwig sold 3,940 shares of the firm's stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $677.00, for a total value of $2,667,380.00. Following the completion of the transaction, the vice president directly owned 54,012 shares in the company, valued at $36,566,124. This trade represents a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Medpace Trading Up 2.8%

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

Medpace (NASDAQ:MEDP - Get Free Report) last posted its earnings results on Wednesday, October 21st. The company reported $4.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $714.47 million. During the same quarter last year, the firm earned $3.86 earnings per share. The company's revenue for the quarter was up 8.5% compared to the same quarter last year. Equities research analysts anticipate that Medpace Holdings, Inc. will post 18.06 earnings per share for the current year.

Institutional Trading of Medpace

Hedge funds and other institutional investors have recently modified their holdings of the business. Novem Group lifted its stake in shares of Medpace by 1.0% in the third quarter. Novem Group now owns 2,127 shares of the company's stock worth $1,328,000 after acquiring an additional 22 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in Medpace by 3.2% in the third quarter. Fifth Third Wealth Advisors LLC now owns 783 shares of the company's stock valued at $489,000 after purchasing an additional 24 shares during the last quarter. Balefire LLC grew its stake in Medpace by 6.1% during the 1st quarter. Balefire LLC now owns 451 shares of the company's stock valued at $217,000 after purchasing an additional 26 shares in the last quarter. Motley Fool Asset Management LLC grew its stake in Medpace by 3.3% during the 3rd quarter. Motley Fool Asset Management LLC now owns 819 shares of the company's stock valued at $511,000 after purchasing an additional 26 shares in the last quarter. Finally, Root Financial Partners LLC increased its holdings in Medpace by 34.1% during the 1st quarter. Root Financial Partners LLC now owns 122 shares of the company's stock worth $59,000 after purchasing an additional 31 shares during the last quarter. 77.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MEDP has been the subject of a number of analyst reports. UBS Group upped their price target on Medpace from $673.00 to $700.00 and gave the stock a "neutral" rating in a report on Friday, October 23rd. Jefferies Financial Group reiterated a "hold" rating on shares of Medpace in a research note on Monday, September 14th. Royal Bank Of Canada boosted their target price on shares of Medpace from $484.00 to $692.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. Truist Financial upped their target price 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. Finally, Barclays upped their target price 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. Three equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average 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.

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