Medpace (NASDAQ:MEDP) Stock: Insider Stephen Ewald Sells 1,245 Shares

Medpace Holdings, Inc. (NASDAQ:MEDP) 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 completion of the transaction, the general counsel directly owned 19,098 shares of the company’s stock, valued at approximately $13,177,620. This represents a 6.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Medpace Trading Down 0.6%

Shares of NASDAQ:MEDP traded down $3.87 during trading on Monday, reaching $648.14. The company had a trading volume of 198,718 shares, compared to its average volume of 330,315. The company has a fifty day moving average of $619.12 and a two-hundred day moving average of $531.32. The stock has a market capitalization of $18.13 billion, a P/E ratio of 35.93, a price-to-earnings-growth ratio of 2.53 and a beta of 1.18. Medpace Holdings, Inc. has a 12 month low of $373.00 and a 12 month high of $693.97.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data 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. Medpace had a net margin of 18.24% and a return on equity of 99.76%. The firm had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $714.47 million. During the same quarter last year, the company posted $3.86 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities research analysts predict that Medpace Holdings, Inc. will post 18.06 earnings per share for the current year.

Analysts Set New Price Targets

MEDP has been the topic of a number of research reports. Leerink Partners set a $620.00 price target on Medpace in a research report on Thursday, July 23rd. Royal Bank Of Canada upped their price objective on Medpace from $484.00 to $692.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Jefferies Financial Group reiterated a “hold” rating on shares of Medpace in a research report on Monday, September 14th. Truist Financial raised their price objective on Medpace from $609.00 to $633.00 and gave the company a “hold” rating in a report on Friday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $535.00 target price on shares of Medpace in a research report on Thursday, July 23rd. Three analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $649.27.

Hedge Funds Weigh In On Medpace

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Medpace in the 2nd quarter worth $1,323,047,000. State Street Corp grew its stake in shares of Medpace by 4.2% during the second quarter. State Street Corp now owns 710,895 shares of the company’s stock valued at $376,483,000 after buying an additional 28,666 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Medpace by 8.3% during the first quarter. Renaissance Technologies LLC now owns 504,668 shares of the company’s stock valued at $242,337,000 after buying an additional 38,760 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Medpace by 5.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 395,769 shares of the company’s stock valued at $190,044,000 after buying an additional 20,736 shares during the last quarter. Finally, Madison Asset Management LLC purchased a new position in shares of Medpace in the second quarter worth about $128,956,000. Institutional investors own 77.98% of the company’s stock.

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.