Insider Selling: Medpace Holdings, Inc. (NASDAQ:MEDP) CEO Sells 48,487 Shares of Stock

Key Points

• CEO August J. Troendle sold 48,487 shares of Medpace Holdings, Inc., totaling approximately $21.9 million, which decreased his ownership by 4.80% to 962,615 shares.
• Medpace reported earnings of $3.10 per share for the last quarter, surpassing expectations, with revenues of $603.31 million, representing a 14.2% year-over-year increase.
• Analysts have mixed ratings on Medpace's stock, with three selling, ten holding, and two buying, along with a current average price target of $406.60.

Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report) CEO August J. Troendle sold 48,487 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $451.69, for a total value of $21,901,093.03. Following the completion of the sale, the chief executive officer owned 962,615 shares of the company's stock, valued at $434,803,569.35. This trade represents a 4.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Medpace Trading Down 0.3%

Shares of NASDAQ MEDP traded down $1.33 during trading hours on Friday, reaching $425.87. The stock had a trading volume of 178,716 shares, compared to its average volume of 461,708. The firm has a market cap of $11.96 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 2.75 and a beta of 1.47. Medpace Holdings, Inc. has a fifty-two week low of $250.05 and a fifty-two week high of $501.30. The firm has a 50-day moving average of $330.95 and a 200-day moving average of $323.49.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The company reported $3.10 earnings per share for the quarter, topping analysts' consensus estimates of $3.00 by $0.10. The company had revenue of $603.31 million during the quarter, compared to analysts' expectations of $537.70 million. Medpace had a return on equity of 67.66% and a net margin of 18.74%. The firm's revenue for the quarter was up 14.2% on a year-over-year basis. During the same period last year, the firm earned $2.75 EPS. On average, equities analysts predict that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Mizuho lifted their price target on Medpace from $328.00 to $510.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Barclays upped their price target on Medpace from $300.00 to $450.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 23rd. Cowen lowered Medpace from a "buy" rating to a "sell" rating in a research note on Wednesday, July 23rd. UBS Group lowered Medpace from a "neutral" rating to a "sell" rating and upped their price target for the company from $300.00 to $305.00 in a research note on Tuesday. Finally, Truist Financial boosted their price objective on Medpace from $298.00 to $436.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $406.60.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. raised its position in Medpace by 9.4% in the first quarter. Invesco Ltd. now owns 1,186,768 shares of the company's stock valued at $361,596,000 after purchasing an additional 102,015 shares during the period. Wasatch Advisors LP raised its position in Medpace by 3.1% in the fourth quarter. Wasatch Advisors LP now owns 936,842 shares of the company's stock valued at $311,247,000 after purchasing an additional 28,161 shares during the period. Mawer Investment Management Ltd. purchased a new stake in shares of Medpace during the first quarter worth about $212,131,000. Geode Capital Management LLC increased its position in shares of Medpace by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 656,130 shares of the company's stock worth $218,031,000 after acquiring an additional 28,076 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Medpace by 1.1% during the first quarter. Bessemer Group Inc. now owns 582,269 shares of the company's stock worth $177,411,000 after acquiring an additional 6,225 shares during the last quarter. Institutional investors and hedge funds own 77.98% of the company's stock.

About Medpace

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.