Key Points
- Medpace Holdings CFO Kevin M. Brady sold 12,000 shares of the company's stock at an average price of $454.23, totaling approximately $5.45 million, reducing his ownership by 66.67% to 6,000 shares.
- Medpace reported a quarterly EPS of $3.10, exceeding analysts' expectations by $0.10, with a revenue of $603.31 million, up 14.2% year-over-year.
- Multiple analysts have issued mixed ratings on Medpace stock, with price targets ranging from $366 to $510, while currently holding an average rating of "Hold."
Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report) 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 value of $5,450,760.00. Following the completion of the sale, the chief financial officer directly owned 6,000 shares in the company, valued at approximately $2,725,380. The trade was a 66.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Medpace Stock Up 1.2%
Shares of Medpace stock opened at $453.05 on Tuesday. The stock's fifty day moving average is $322.60 and its two-hundred day moving average is $321.30. The company has a market capitalization of $12.73 billion, a PE 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 announced its quarterly earnings data on Monday, July 21st. The company reported $3.10 EPS for the quarter, beating the consensus estimate of $3.00 by $0.10. The company had revenue of $603.31 million for the quarter, compared to the consensus estimate of $537.70 million. Medpace had a return on equity of 67.66% and a net margin of 18.74%. Medpace's quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.75 EPS. As a group, research analysts anticipate that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.
Hedge Funds Weigh In On Medpace
Several hedge funds have recently bought and sold shares of MEDP. Mawer Investment Management Ltd. bought a new position in Medpace in the 1st quarter valued at $212,131,000. Invesco Ltd. grew its position in Medpace by 91.8% in the 4th quarter. Invesco Ltd. now owns 1,084,753 shares of the company's stock valued at $360,387,000 after acquiring an additional 519,186 shares during the last quarter. Vulcan Value Partners LLC lifted its holdings in shares of Medpace by 221.6% in the 1st quarter. Vulcan Value Partners LLC now owns 325,916 shares of the company's stock worth $99,159,000 after buying an additional 224,578 shares during the period. Norges Bank purchased a new stake in shares of Medpace in the 4th quarter worth $69,859,000. Finally, Fundsmith LLP purchased a new stake in shares of Medpace in the 4th quarter worth $42,372,000. Institutional investors own 77.98% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on MEDP shares. Barclays lifted their price objective on Medpace from $300.00 to $450.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 23rd. Cowen downgraded Medpace from a "buy" rating to a "sell" rating in a research report on Wednesday, July 23rd. TD Cowen reissued a "sell" rating and set a $366.00 target price (up previously from $283.00) on shares of Medpace in a research report on Wednesday, July 23rd. Mizuho boosted their target price on Medpace from $328.00 to $510.00 and gave the company an "outperform" rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Medpace from $270.00 to $430.00 and gave the company a "hold" rating in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Medpace currently has an average rating of "Hold" and a consensus target price of $411.10.
Check Out Our Latest Stock Analysis on Medpace
About Medpace
(
Get Free Report)
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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