Medpace Holdings, Inc. (NASDAQ:MEDP) President Jesse J. Geiger Sells 41,801 Shares

Key Points

• Jesse J. Geiger, President of Medpace Holdings, sold 41,801 shares of the company at an average price of $453.11, amounting to approximately $18.94 million, reducing his stock ownership by 53.38%.
• Medpace reported $603.31 million in revenue for the latest quarter, exceeding analysts' expectations and marking a 14.2% year-over-year increase.
• Institutional investors currently hold 77.98% of Medpace's stock, indicating strong interest in the company from large financial entities.

Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report) President Jesse J. Geiger sold 41,801 shares of the stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $453.11, for a total value of $18,940,451.11. Following the sale, the president owned 36,503 shares in the company, valued at $16,539,874.33. The trade was a 53.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Medpace Stock Performance

NASDAQ MEDP traded up $5.56 on Monday, hitting $453.05. The stock had a trading volume of 544,607 shares, compared to its average volume of 461,935. The firm has a 50-day moving average of $319.66 and a 200-day moving average of $320.58. 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 Holdings, Inc. has a 52-week low of $250.05 and a 52-week high of $501.30.

Medpace (NASDAQ:MEDP - Get Free Report) last issued its earnings results on Monday, July 21st. The company reported $3.10 EPS for the quarter, topping analysts' consensus estimates of $3.00 by $0.10. The company 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 revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.75 EPS. As a group, research analysts anticipate that Medpace Holdings, Inc. will post 12.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Medpace

A number of large investors have recently modified their holdings of MEDP. LPL Financial LLC lifted its position in Medpace by 5.3% during the fourth quarter. LPL Financial LLC now owns 17,960 shares of the company's stock valued at $6,010,000 after purchasing an additional 909 shares during the period. Vanguard Group Inc. boosted its position in shares of Medpace by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 2,570,770 shares of the company's stock worth $854,087,000 after acquiring an additional 25,704 shares during the last quarter. Norges Bank bought a new position in shares of Medpace during the fourth quarter worth $69,859,000. New Age Alpha Advisors LLC bought a new position in Medpace during the fourth quarter valued at $1,886,000. Finally, Orion Portfolio Solutions LLC lifted its position in Medpace by 347.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 4,248 shares of the company's stock valued at $1,411,000 after purchasing an additional 3,299 shares during the last quarter. Institutional investors own 77.98% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price target on Medpace from $270.00 to $430.00 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. TD Cowen reiterated a "sell" rating and set a $366.00 target price (up previously from $283.00) on shares of Medpace in a report on Wednesday, July 23rd. Truist Financial increased their target price on Medpace from $298.00 to $436.00 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. William Blair restated a "market perform" rating on shares of Medpace in a report on Wednesday, July 23rd. Finally, Mizuho boosted their target price on Medpace from $328.00 to $510.00 and gave the stock an "outperform" rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $411.10.

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.

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