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 Medpace stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $690.00, for a total value of $859,050.00. Following the completion of the transaction, the general counsel owned 19,098 shares of the company’s stock, valued at approximately $13,177,620. The trade was a 6.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Medpace Trading Up 2.4%

NASDAQ:MEDP opened at $663.49 on Wednesday. The firm has a market capitalization of $18.56 billion, a PE ratio of 35.93, a price-to-earnings-growth ratio of 2.51 and a beta of 1.12. The stock has a 50 day moving average of $620.54 and a 200-day moving average of $531.75. Medpace Holdings, Inc. has a 52 week low of $373.00 and a 52 week high of $693.97.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $4.84 earnings per share for the quarter, topping analysts’ consensus estimates of $4.44 by $0.40. The business had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $714.47 million. Medpace had a return on equity of 99.76% and a net margin of 18.24%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.86 EPS. As a group, analysts predict that Medpace Holdings, Inc. will post 18.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MEDP shares. Barclays raised their target price on Medpace from $625.00 to $675.00 and gave the company an “equal weight” rating in a research note on Friday, October 23rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $535.00 price target on shares of Medpace in a report on Thursday, July 23rd. Weiss Ratings upgraded shares of Medpace from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Medpace in a report on Monday, September 14th. Finally, Leerink Partners set a $620.00 price objective 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 given a Hold rating to the company. According to MarketBeat.com, Medpace currently has an average rating of “Hold” and a consensus price target of $649.27.

Hedge Funds Weigh In On Medpace

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC lifted its holdings in Medpace by 4.6% in the third quarter. Brighton Jones LLC now owns 3,192 shares of the company’s stock worth $1,992,000 after purchasing an additional 141 shares during the period. Ethic Inc. grew its position in Medpace by 1.7% in the 3rd quarter. Ethic Inc. now owns 2,256 shares of the company’s stock valued at $1,408,000 after buying an additional 37 shares in the last quarter. StoneX Group Inc. bought a new position in Medpace in the 3rd quarter valued at about $273,000. Allegiance Financial Group Advisory Services LLC grew its position in Medpace by 22.8% in the 3rd quarter. Allegiance Financial Group Advisory Services LLC now owns 485 shares of the company’s stock valued at $303,000 after buying an additional 90 shares in the last quarter. Finally, Calamos Advisors LLC acquired a new position in Medpace during the 3rd quarter valued at about $2,418,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

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.