Key Points
- Insider sale: General Counsel Stephen Ewald sold 1,245 Medpace shares at an average price of $690, generating $859,050. He retained 19,098 shares after the transaction.
- Strong quarterly results: Medpace reported quarterly EPS of $4.84, beating estimates of $4.44, while revenue rose 8.5% year over year to $716 million.
- Analyst outlook remains cautious: The consensus rating is “Hold,” with a target price of $649.27, despite several analysts raising their price targets and the stock trading near its 52-week high.
Medpace Holdings, Inc. (NASDAQ:MEDP - Get Free Report) General Counsel Stephen Ewald sold 1,245 shares of the business's stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $690.00, for a total transaction of $859,050.00. Following the sale, the general counsel owned 19,098 shares of the company's stock, valued at approximately $13,177,620. This represents a 6.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Medpace Stock Down 0.6%
Medpace stock opened at $648.14 on Tuesday. The firm has a fifty day moving average of $619.67 and a 200-day moving average of $531.52. Medpace Holdings, Inc. has a 52-week low of $373.00 and a 52-week high of $693.97. The firm has a market capitalization of $18.13 billion, a P/E ratio of 38.40, a PEG ratio of 2.69 and a beta of 1.18.
Medpace (NASDAQ:MEDP - Get Free Report) last posted its earnings results on Wednesday, October 21st. The company reported $4.84 earnings per share for the quarter, beating the consensus estimate of $4.44 by $0.40. The business had revenue of $716.00 million for the quarter, compared to analyst estimates of $714.47 million. Medpace had a net margin of 18.24% and a return on equity of 99.76%. The business's quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.86 EPS. On average, research analysts expect that Medpace Holdings, Inc. will post 18.06 EPS for the current fiscal year.
Analyst Ratings Changes
Several research analysts have commented on the company. Barclays raised their price objective on Medpace from $625.00 to $675.00 and gave the company an "equal weight" rating in a research report on Friday, October 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $535.00 target price on shares of Medpace in a research report on Thursday, July 23rd. 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, October 23rd. Leerink Partners set a $620.00 target price on Medpace in a report on Thursday, July 23rd. Finally, Weiss Ratings upgraded Medpace from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Three analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $649.27.
Read Our Latest Stock Analysis on MEDP
Institutional Trading of Medpace
A number of hedge funds and other institutional investors have recently made changes to their positions in MEDP. BlackRock Inc. bought a new position in Medpace during the 2nd quarter valued at $1,323,047,000. Madison Asset Management LLC bought a new stake in shares of Medpace in the 2nd quarter worth about $128,956,000. Bank of America Corp DE bought a new stake in shares of Medpace in the 2nd quarter worth about $116,891,000. American Capital Management Inc. bought a new stake in shares of Medpace in the 2nd quarter worth about $111,329,000. Finally, Caisse de depot et placement du Quebec bought a new stake in shares of Medpace in the 2nd quarter worth about $80,979,000. Institutional investors own 77.98% of the company's stock.
Medpace Company Profile
(
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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