Medpace Holdings, Inc. (NASDAQ:MEDP) VP Sells $3,376,050.00 in Stock

Key Points

• Susan E. Burwig, VP of Medpace Holdings, sold 7,500 shares of the company's stock at an average price of $450.14, totaling over $3.3 million, which is an 11.54% decrease in her holdings.
• Medpace's stock price decreased by 1.1%, closing at $447.92, despite reporting better-than-expected earnings with $3.10 EPS on revenue of $603.31 million for the last quarter.
• Several institutional investors, including Vista Finance LLC and Nordea Investment Management AB, have recently increased their stakes in Medpace, which is currently 77.98% owned by institutional investors and hedge funds.

Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report) VP Susan E. Burwig sold 7,500 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $450.14, for a total transaction of $3,376,050.00. Following the completion of the sale, the vice president directly owned 57,500 shares of the company's stock, valued at $25,883,050. This represents a 11.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Medpace Price Performance

Shares of Medpace stock traded down $1.33 during trading on Friday, hitting $425.87. The stock had a trading volume of 178,716 shares, compared to its average volume of 461,708. The firm has a market cap of $11.96 billion, a P/E ratio of 31.61, a PEG ratio of 2.75 and a beta of 1.47. The business has a fifty day moving average of $330.95 and a two-hundred day moving average of $323.49. Medpace Holdings, Inc. has a fifty-two week low of $250.05 and a fifty-two week high of $501.30.

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

Analyst Ratings Changes

A number of research firms recently weighed in on MEDP. Truist Financial lifted their price objective on shares of Medpace from $298.00 to $436.00 and gave the company a "hold" rating in a research report on Wednesday, July 23rd. TD Cowen reaffirmed a "sell" rating and set a $366.00 price target (up previously from $283.00) on shares of Medpace in a research note on Wednesday, July 23rd. UBS Group cut Medpace from a "neutral" rating to a "sell" rating and lifted their price objective for the stock from $300.00 to $305.00 in a research report on Tuesday. Mizuho lifted their price objective on Medpace from $328.00 to $510.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Medpace from $270.00 to $430.00 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Medpace has a consensus rating of "Hold" and a consensus target price of $406.60.

Institutional Investors Weigh In On Medpace

Several hedge funds have recently bought and sold shares of MEDP. Geneos Wealth Management Inc. lifted its stake in Medpace by 64.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company's stock worth $29,000 after acquiring an additional 37 shares in the last quarter. Brooklyn Investment Group lifted its position in shares of Medpace by 244.8% in the 1st quarter. Brooklyn Investment Group now owns 100 shares of the company's stock worth $30,000 after acquiring an additional 71 shares during the period. Whittier Trust Co. lifted its position in shares of Medpace by 47.3% in the 1st quarter. Whittier Trust Co. now owns 109 shares of the company's stock worth $33,000 after acquiring an additional 35 shares during the period. Colonial Trust Co SC lifted its position in shares of Medpace by 150.0% in the 4th quarter. Colonial Trust Co SC now owns 175 shares of the company's stock worth $58,000 after acquiring an additional 105 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Medpace during the 1st quarter worth approximately $60,000. 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.