Medpace Holdings, Inc. (NASDAQ:MEDP) Director Sells $516,715.84 in Stock

Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report) Director Fred B. Davenport, Jr. sold 1,712 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $301.82, for a total value of $516,715.84. Following the completion of the transaction, the director now owns 2,998 shares in the company, valued at $904,856.36. This represents a 36.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Medpace Stock Down 1.9 %

NASDAQ MEDP traded down $5.83 during midday trading on Thursday, hitting $302.56. The company had a trading volume of 301,388 shares, compared to its average volume of 341,719. The firm has a fifty day simple moving average of $311.46 and a two-hundred day simple moving average of $330.93. The stock has a market cap of $8.70 billion, a price-to-earnings ratio of 24.06, a P/E/G ratio of 3.81 and a beta of 1.46. Medpace Holdings, Inc. has a fifty-two week low of $250.05 and a fifty-two week high of $459.77.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The company reported $3.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.06 by $0.61. Medpace had a return on equity of 51.48% and a net margin of 19.17%. The company had revenue of $558.57 million during the quarter, compared to analysts' expectations of $528.38 million. During the same period last year, the business earned $3.20 earnings per share. As a group, equities analysts predict that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Leerink Partners assumed coverage on shares of Medpace in a report on Monday, March 24th. They issued a "market perform" rating and a $330.00 price objective for the company. Mizuho decreased their price target on Medpace from $400.00 to $355.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Truist Financial cut their price objective on Medpace from $333.00 to $300.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. TD Cowen cut Medpace from a "buy" rating to a "hold" rating and decreased their target price for the stock from $370.00 to $328.00 in a research report on Monday, April 14th. Finally, Robert W. Baird lowered their price target on Medpace from $340.00 to $313.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $349.30.

Institutional Investors Weigh In On Medpace

A number of hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in shares of Medpace during the fourth quarter valued at approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Medpace in the 4th quarter valued at $31,000. Jones Financial Companies Lllp raised its position in shares of Medpace by 2,750.0% during the fourth quarter. Jones Financial Companies Lllp now owns 114 shares of the company's stock worth $38,000 after acquiring an additional 110 shares during the last quarter. Lindbrook Capital LLC lifted its stake in shares of Medpace by 27.6% during the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company's stock valued at $45,000 after acquiring an additional 29 shares during the period. Finally, Assetmark Inc. boosted its holdings in Medpace by 20.1% in the fourth quarter. Assetmark Inc. now owns 173 shares of the company's stock valued at $57,000 after acquiring an additional 29 shares during 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.