Medpace (NASDAQ:MEDP) Shares Gap Down Following Insider Selling

Medpace Holdings, Inc. (NASDAQ:MEDP)’s share price gapped down before the market opened on Tuesday after an insider sold shares in the company. The stock had previously closed at $453.05, but opened at $431.89. Medpace shares last traded at $436.74, with a volume of 47,294 shares changing hands.

Specifically, General Counsel Stephen P. Ewald sold 3,000 shares of Medpace stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $450.00, for a total value of $1,350,000.00. Following the completion of the sale, the general counsel directly owned 10,343 shares in the company, valued at $4,654,350. The trade was a 22.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO August J. Troendle sold 48,487 shares of the business’s stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $451.69, for a total transaction of $21,901,093.03. Following the transaction, the chief executive officer directly owned 962,615 shares of the company’s stock, valued at $434,803,569.35. The trade was a 4.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, VP Susan E. Burwig sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $450.14, for a total value of $3,376,050.00. Following the sale, the vice president owned 57,500 shares in the company, valued at approximately $25,883,050. This trade represents a 11.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Barclays increased their price target on Medpace from $300.00 to $450.00 and gave the company an “equal weight” rating in a report on Wednesday, July 23rd. TD Cowen reiterated a “sell” rating and set a $366.00 price objective (up previously from $283.00) on shares of Medpace in a research report on Wednesday, July 23rd. William Blair reissued a “market perform” rating on shares of Medpace in a research report on Wednesday, July 23rd. Truist Financial boosted their price target on Medpace from $298.00 to $436.00 and gave the company a “hold” rating in a research note on Wednesday, July 23rd. Finally, Cowen lowered shares of Medpace from a “buy” rating to a “sell” rating in a research report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $406.60.

Medpace Stock Down 2.3%

The stock has a market cap of $12.30 billion, a P/E ratio of 32.55, a P/E/G ratio of 2.82 and a beta of 1.47. The firm has a 50 day moving average price of $328.27 and a 200 day moving average price of $322.97.

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

Institutional Trading of Medpace

Several institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. boosted its stake in Medpace by 9.4% in the 1st quarter. Invesco Ltd. now owns 1,186,768 shares of the company’s stock worth $361,596,000 after purchasing an additional 102,015 shares during the period. Wasatch Advisors LP boosted its position in shares of Medpace by 3.1% during the fourth quarter. Wasatch Advisors LP now owns 936,842 shares of the company’s stock worth $311,247,000 after acquiring an additional 28,161 shares during the last quarter. Mawer Investment Management Ltd. purchased a new position in Medpace during the first quarter valued at $212,131,000. Geode Capital Management LLC increased its holdings in Medpace by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 656,130 shares of the company’s stock valued at $218,031,000 after acquiring an additional 28,076 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in Medpace by 1.1% in the 1st quarter. Bessemer Group Inc. now owns 582,269 shares of the company’s stock valued at $177,411,000 after acquiring an additional 6,225 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors.

Medpace Company Profile

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.