Medpace (NASDAQ:MEDP) VP Susan Burwig Sells 16,060 Shares of Stock

Medpace Holdings, Inc. (NASDAQ:MEDP) VP Susan Burwig sold 16,060 shares of Medpace stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $677.00, for a total value of $10,872,620.00. Following the completion of the sale, the vice president owned 57,624 shares in the company, valued at approximately $39,011,448. This trade represents a 21.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Medpace Price Performance

Shares of MEDP stock opened at $692.68 on Thursday. The business’s fifty day moving average price is $616.95 and its 200 day moving average price is $530.64. The firm has a market capitalization of $19.37 billion, a PE ratio of 38.40, a P/E/G ratio of 2.90 and a beta of 1.18. Medpace Holdings, Inc. has a 1-year low of $373.00 and a 1-year high of $693.97.

Medpace (NASDAQ:MEDP) last released its earnings results on Wednesday, October 21st. The company reported $4.84 EPS for the quarter, beating analysts’ consensus estimates of $4.44 by $0.40. The company had revenue of $716.00 million during the quarter, compared to the consensus estimate of $714.47 million. Medpace had a return on equity of 99.76% and a net margin of 18.24%. Medpace’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.86 earnings per share. Equities research analysts expect that Medpace Holdings, Inc. will post 18.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MEDP shares. Weiss Ratings raised shares of Medpace from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Royal Bank Of Canada increased their target price on shares of Medpace from $484.00 to $692.00 and gave the company an “outperform” rating in a report on Friday, July 24th. UBS Group increased their target price on shares of Medpace from $673.00 to $700.00 and gave the company a “neutral” rating in a report on Friday, October 23rd. Barclays lifted their price target on shares of Medpace from $625.00 to $675.00 and gave the company an “equal weight” rating in a research report on Friday, October 23rd. Finally, Truist Financial boosted their price target on Medpace from $609.00 to $633.00 and gave the stock a “hold” rating in a research note on Friday, October 23rd. Three analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Medpace currently has a consensus rating of “Hold” and an average target price of $649.27.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MEDP. Americana Partners LLC lifted its holdings in Medpace by 18.1% in the 3rd quarter. Americana Partners LLC now owns 574 shares of the company’s stock valued at $358,000 after purchasing an additional 88 shares in the last quarter. Parcion Private Wealth LLC grew its holdings in shares of Medpace by 46.7% during the third quarter. Parcion Private Wealth LLC now owns 892 shares of the company’s stock worth $557,000 after buying an additional 284 shares in the last quarter. Soltis Investment Advisors LLC grew its holdings in shares of Medpace by 55.5% during the third quarter. Soltis Investment Advisors LLC now owns 647 shares of the company’s stock worth $404,000 after buying an additional 231 shares in the last quarter. Choreo LLC grew its holdings in shares of Medpace by 12.9% during the third quarter. Choreo LLC now owns 850 shares of the company’s stock worth $530,000 after buying an additional 97 shares in the last quarter. Finally, Sage Rhino Capital LLC acquired a new position in shares of Medpace in the third quarter valued at approximately $208,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.

About Medpace

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.