Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report) VP Susan Burwig sold 3,940 shares of Medpace stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $677.00, for a total transaction of $2,667,380.00. Following the completion of the sale, the vice president directly owned 54,012 shares of the company's stock, valued at $36,566,124. The trade was a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Medpace Stock Performance
Shares of MEDP opened at $692.68 on Thursday. The stock has a fifty day moving average of $616.95 and a two-hundred day moving average of $530.64. The company has a market capitalization of $19.37 billion, a PE ratio of 38.40, a price-to-earnings-growth ratio of 2.90 and a beta of 1.18. Medpace Holdings, Inc. has a fifty-two week low of $373.00 and a fifty-two week high of $693.97.
Medpace (NASDAQ:MEDP - Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The company reported $4.84 earnings per share for the quarter, topping analysts' consensus estimates of $4.44 by $0.40. Medpace had a return on equity of 99.76% and a net margin of 18.24%. The company had revenue of $716.00 million for the quarter, compared to analyst estimates of $714.47 million. During the same quarter in the prior year, the company posted $3.86 EPS. The business's revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, equities research analysts forecast that Medpace Holdings, Inc. will post 18.06 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Medpace
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Medpace during the 2nd quarter worth $1,323,047,000. State Street Corp boosted its holdings in Medpace by 4.2% in the second quarter. State Street Corp now owns 710,895 shares of the company's stock valued at $376,483,000 after acquiring an additional 28,666 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Medpace by 8.3% in the first quarter. Renaissance Technologies LLC now owns 504,668 shares of the company's stock valued at $242,337,000 after acquiring an additional 38,760 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Medpace by 5.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 395,769 shares of the company's stock valued at $190,044,000 after acquiring an additional 20,736 shares during the last quarter. Finally, Madison Asset Management LLC acquired a new position in Medpace in the second quarter valued at $128,956,000. Institutional investors and hedge funds own 77.98% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently commented on MEDP. Truist Financial upped their target price on Medpace from $609.00 to $633.00 and gave the company a "hold" rating in a research note on Friday, October 23rd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $535.00 price target on shares of Medpace in a research note on Thursday, July 23rd. Royal Bank Of Canada raised their price target on Medpace from $484.00 to $692.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Jefferies Financial Group restated a "hold" rating on shares of Medpace in a report on Monday, September 14th. Finally, Barclays upped their price objective on shares of Medpace from $625.00 to $675.00 and gave the company an "equal weight" rating in a research note on Friday, October 23rd. Three investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Medpace has a consensus rating of "Hold" and an average price target of $649.27.
Check Out Our Latest Stock Analysis on MEDP
About Medpace
(
Get Free Report)
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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