Kevin M. Brady Sells 12,000 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) Stock

Key Points

• CFO Kevin M. Brady sold 12,000 shares of Medpace Holdings, Inc. at an average price of $454.23, marking a significant 66.67% decrease in his position.
• Medpace reported earnings of $3.10 per share, exceeding expectations, and revenue of $603.31 million for the quarter, which was higher than analysts' forecasts.
• Analysts have mixed views on the stock, with a consensus rating of "Hold" and a price target range between $328.00 and $510.00, reflecting varied investor sentiment.

Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report) CFO Kevin M. Brady sold 12,000 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $454.23, for a total transaction of $5,450,760.00. Following the sale, the chief financial officer directly owned 6,000 shares of the company's stock, valued at $2,725,380. This represents a 66.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Medpace Stock Up 1.2%

Shares of NASDAQ MEDP traded up $5.56 during trading on Monday, reaching $453.05. 544,607 shares of the stock were exchanged, compared to its average volume of 461,935. The business's 50-day moving average price is $319.66 and its 200 day moving average price is $320.58. Medpace Holdings, Inc. has a twelve month low of $250.05 and a twelve month high of $501.30. The company has a market capitalization of $12.73 billion, a price-to-earnings ratio of 33.68, a price-to-earnings-growth ratio of 2.82 and a beta of 1.47.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The company reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.10. The firm had revenue of $603.31 million for the quarter, compared to analysts' expectations of $537.70 million. Medpace had a net margin of 18.74% and a return on equity of 67.66%. The firm's quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.75 earnings per share. As a group, sell-side analysts expect that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Mizuho boosted their target price on shares of Medpace from $328.00 to $510.00 and gave the company an "outperform" rating in a report on Friday. William Blair restated a "market perform" rating on shares of Medpace in a report on Wednesday, July 23rd. Robert W. Baird upped their price objective on shares of Medpace from $313.00 to $490.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Medpace from $270.00 to $430.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. Finally, Cowen lowered shares of Medpace from a "buy" rating to a "sell" rating in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Medpace presently has a consensus rating of "Hold" and a consensus price target of $411.10.

Hedge Funds Weigh In On Medpace

Several institutional investors have recently modified their holdings of the company. Whittier Trust Co. grew its position in Medpace by 47.3% in the 1st quarter. Whittier Trust Co. now owns 109 shares of the company's stock valued at $33,000 after buying an additional 35 shares in the last quarter. PDS Planning Inc grew its position in Medpace by 1.5% in the 2nd quarter. PDS Planning Inc now owns 2,421 shares of the company's stock valued at $760,000 after buying an additional 35 shares in the last quarter. Benjamin Edwards Inc. grew its position in Medpace by 3.1% in the 1st quarter. Benjamin Edwards Inc. now owns 1,201 shares of the company's stock valued at $366,000 after buying an additional 36 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Medpace by 64.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company's stock valued at $29,000 after buying an additional 37 shares in the last quarter. Finally, Assetmark Inc. grew its position in Medpace by 24.9% in the 1st quarter. Assetmark Inc. now owns 216 shares of the company's stock valued at $66,000 after buying an additional 43 shares in the last quarter. Institutional investors own 77.98% of the company's stock.

Medpace Company Profile

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.

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