Medpace (NASDAQ:MEDP) Reaches New 12-Month High - Should You Buy?

Key Points

• Medpace shares reached a new 52-week high of $690.78 and have risen well above their 50-day and 200-day moving averages. The stock carries a $19.17 billion market capitalization and trades at a P/E ratio of 38.06.
• The company beat quarterly earnings expectations, reporting $4.84 in EPS versus the $4.44 consensus, while revenue rose 8.5% year over year to $716 million.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and a $649.27 target price below the current share price. Insiders sold approximately $199.2 million worth of stock during the last quarter.

Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday. The company traded as high as $690.78 and last traded at $683.8710, with a volume of 87,637 shares. The stock had previously closed at $673.79.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. UBS Group increased their target price on Medpace from $673.00 to $700.00 and gave the company a "neutral" rating in a research note on Friday. Truist Financial raised their target price on Medpace from $609.00 to $633.00 and gave the stock a "hold" rating in a report on Friday. Jefferies Financial Group restated a "hold" rating on shares of Medpace in a research report on Monday, September 14th. TD Cowen upped their price target on Medpace from $492.00 to $673.00 and gave the company a "hold" rating in a research note on Friday, October 23rd. Finally, Weiss Ratings upgraded shares of Medpace from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Three analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $649.27.

Medpace Price Performance

The business's 50-day moving average price is $614.90 and its two-hundred day moving average price is $530.18. The company has a market capitalization of $19.17 billion, a P/E ratio of 38.06, a PEG ratio of 2.90 and a beta of 1.18.

Medpace (NASDAQ:MEDP - Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The company reported $4.84 EPS for the quarter, beating analysts' consensus estimates of $4.44 by $0.40. Medpace had a net margin of 18.24% and a return on equity of 99.76%. The business had revenue of $716.00 million during the quarter, compared to analysts' expectations of $714.47 million. During the same quarter in the prior year, the company earned $3.86 EPS. The firm's quarterly revenue was up 8.5% on a year-over-year basis. Research analysts expect that Medpace Holdings, Inc. will post 18.06 earnings per share for the current fiscal year.

Insider Activity at Medpace

In related news, CEO August Troendle sold 21,966 shares of the business's stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $625.47, for a total value of $13,739,074.02. Following the completion of the transaction, the chief executive officer directly owned 338,225 shares in the company, valued at approximately $211,549,590.75. The trade was a 6.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 321,402 shares of company stock worth $199,162,324 over the last quarter. Company insiders own 20.50% of the company's stock.

Institutional Trading of Medpace

Hedge funds have recently bought and sold shares of the stock. Johnson Financial Group Inc. acquired a new position in shares of Medpace in the second quarter valued at approximately $27,000. Jones Financial Companies Lllp acquired a new stake in shares of Medpace during the second quarter worth $30,000. Allied Private Wealth LLC acquired a new stake in shares of Medpace during the second quarter worth $31,000. Kilter Group LLC acquired a new stake in shares of Medpace during the second quarter worth $31,000. Finally, Basecamp Wealth Advisors LLC lifted its position in Medpace by 187.5% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 69 shares of the company's stock valued at $33,000 after acquiring an additional 45 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Medpace Company Profile

Medpace Holdings, Inc is a contract research organization (CRO) that provides clinical development services to biotechnology, pharmaceutical and medical device companies. The company supports sponsors throughout the development process, from early-stage planning and regulatory submissions through clinical trial execution, data management, analysis and reporting.

Medpace's services include Phase I through Phase IV clinical research, clinical monitoring, biostatistics, data management, medical writing, pharmacovigilance, regulatory consulting and central laboratory services.

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