Insider Selling: Medpace Holdings, Inc. (NASDAQ:MEDP) President Sells $18,940,451.11 in Stock

Medpace Holdings, Inc. (NASDAQ:MEDP) President Jesse J. Geiger sold 41,801 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $453.11, for a total value of $18,940,451.11. Following the sale, the president owned 36,503 shares of the company’s stock, valued at approximately $16,539,874.33. The trade was a 53.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Medpace Stock Performance

Shares of NASDAQ MEDP opened at $437.78 on Thursday. Medpace Holdings, Inc. has a fifty-two week low of $250.05 and a fifty-two week high of $501.30. The stock has a market cap of $12.30 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 2.82 and a beta of 1.47. The firm’s 50-day simple moving average is $328.27 and its 200 day simple moving average is $322.97.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, July 21st. The company reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.10. Medpace had a net margin of 18.74% and a return on equity of 67.66%. The business had revenue of $603.31 million for the quarter, compared to analysts’ expectations of $537.70 million. During the same quarter last year, the firm earned $2.75 EPS. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, sell-side analysts predict that Medpace Holdings, Inc. will post 12.29 EPS for the current year.

Hedge Funds Weigh In On Medpace

Several large investors have recently added to or reduced their stakes in MEDP. LPL Financial LLC lifted its position in Medpace by 5.3% in the 4th quarter. LPL Financial LLC now owns 17,960 shares of the company’s stock valued at $6,010,000 after acquiring an additional 909 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Medpace by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 2,570,770 shares of the company’s stock worth $854,087,000 after buying an additional 25,704 shares in the last quarter. Norges Bank bought a new position in shares of Medpace during the 4th quarter worth approximately $69,859,000. New Age Alpha Advisors LLC bought a new position in shares of Medpace during the 4th quarter worth approximately $1,886,000. Finally, Orion Portfolio Solutions LLC lifted its position in shares of Medpace by 347.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 4,248 shares of the company’s stock worth $1,411,000 after buying an additional 3,299 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. TD Cowen reiterated a “sell” rating and set a $366.00 price target (up from $283.00) on shares of Medpace in a report on Wednesday, July 23rd. Robert W. Baird increased their price target on Medpace from $313.00 to $490.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Mizuho raised their target price on Medpace from $328.00 to $510.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Cowen downgraded Medpace from a “buy” rating to a “sell” rating in a research note on Wednesday, July 23rd. Finally, Truist Financial raised their target price on Medpace from $298.00 to $436.00 and gave the company a “hold” rating in a research note on Wednesday, July 23rd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $406.60.

About Medpace

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.