Medpace (NASDAQ:MEDP) Reaches New 1-Year High - Here's What Happened

Key Points

• Medpace Holdings, Inc. reached a new 52-week high, trading at $506.55 during mid-day trading on Wednesday, with a current value around $499.68.
• Analysts have mixed ratings on Medpace, with two maintaining a Buy rating, twelve providing a Hold rating, and three issuing a Sell rating; the consensus price target is $422.27.
• In the latest quarterly earnings report, Medpace posted an EPS of $3.10, exceeding expectations, and demonstrated a 14.2% annual revenue growth.

Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $506.55 and last traded at $499.68, with a volume of 12750 shares trading hands. The stock had previously closed at $496.14.

Analyst Ratings Changes

A number of analysts have recently issued reports on MEDP shares. Jefferies Financial Group raised their price target on shares of Medpace from $400.00 to $450.00 and gave the company a "hold" rating in a report on Tuesday, September 9th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Medpace from $270.00 to $430.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Cowen downgraded shares of Medpace from a "buy" rating to a "sell" rating in a report on Wednesday, July 23rd. Mizuho raised their price objective on shares of Medpace from $328.00 to $510.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Finally, TD Cowen reissued a "sell" rating and issued a $366.00 price objective (up previously from $283.00) on shares of Medpace in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Medpace presently has an average rating of "Reduce" and a consensus price target of $422.27.

Medpace Trading Up 0.8%

The business's 50 day moving average is $454.11 and its 200 day moving average is $357.57. The stock has a market capitalization of $14.05 billion, a PE ratio of 37.19, a PEG ratio of 3.13 and a beta of 1.44.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its quarterly 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 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 business's revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.75 earnings per share. Medpace has set its FY 2025 guidance at 13.760-14.53 EPS. As a group, analysts anticipate that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Insider Buying and Selling at Medpace

In other Medpace news, Director Cornelius P. Mccarthy III sold 1,662 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $465.04, for a total transaction of $772,896.48. Following the completion of the sale, the director directly owned 10,197 shares of the company's stock, valued at approximately $4,742,012.88. This represents a 14.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin M. Brady sold 12,000 shares of Medpace stock in a transaction that occurred on 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 completion of the sale, the chief financial officer owned 6,000 shares of the company's stock, valued at $2,725,380. This trade represents a 66.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 161,266 shares of company stock valued at $74,111,427. 20.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Medpace

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in Medpace by 37.1% during the 1st quarter. GAMMA Investing LLC now owns 307 shares of the company's stock worth $94,000 after buying an additional 83 shares during the last quarter. Inspire Investing LLC purchased a new position in Medpace during the 1st quarter worth approximately $2,059,000. Voya Investment Management LLC raised its position in Medpace by 7.6% during the 1st quarter. Voya Investment Management LLC now owns 21,976 shares of the company's stock worth $6,696,000 after buying an additional 1,560 shares during the last quarter. Zeno Equity Partners LLP raised its position in Medpace by 2.6% during the 1st quarter. Zeno Equity Partners LLP now owns 62,304 shares of the company's stock worth $18,983,000 after buying an additional 1,564 shares during the last quarter. Finally, United Services Automobile Association purchased a new position in Medpace during the 1st quarter worth approximately $500,000. 77.98% of the stock is owned by hedge funds and other institutional investors.

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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