Shares of Medpace Holdings, Inc. (NASDAQ:MEDP – Get Free Report) were down 3.1% during mid-day trading on Friday following insider selling activity. The company traded as low as $272.10 and last traded at $272.73. Approximately 38,561 shares changed hands during trading, a decline of 88% from the average daily volume of 329,343 shares. The stock had previously closed at $281.47.
Specifically, CEO August J. Troendle sold 17,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $281.61, for a total value of $4,787,370.00. Following the transaction, the chief executive officer now directly owns 5,839,947 shares of the company’s stock, valued at approximately $1,644,587,474.67. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO August J. Troendle sold 17,000 shares of Medpace stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $281.61, for a total transaction of $4,787,370.00. Following the sale, the chief executive officer now directly owns 5,839,947 shares of the company’s stock, valued at approximately $1,644,587,474.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Medpace Investors, Llc sold 33,000 shares of Medpace stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $283.42, for a total transaction of $9,352,860.00. Following the sale, the insider now owns 5,856,947 shares in the company, valued at $1,659,975,918.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 393,072 shares of company stock valued at $103,391,369. 25.70% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
MEDP has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of Medpace in a research note on Thursday, October 5th. They set a “hold” rating for the company. UBS Group upped their target price on shares of Medpace from $215.00 to $270.00 in a research note on Wednesday, July 26th. Guggenheim upped their target price on shares of Medpace from $252.00 to $273.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. Finally, Robert W. Baird raised shares of Medpace from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $270.00 to $289.00 in a report on Tuesday, October 24th.
Medpace Price Performance
The firm has a market capitalization of $8.41 billion, a PE ratio of 32.09 and a beta of 1.37. The company’s fifty day simple moving average is $255.80 and its 200 day simple moving average is $242.98.
Medpace (NASDAQ:MEDP – Get Free Report) last announced its earnings results on Monday, October 23rd. The company reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.17. The business had revenue of $492.50 million during the quarter, compared to analyst estimates of $475.79 million. Medpace had a net margin of 15.33% and a return on equity of 68.48%. Medpace’s revenue for the quarter was up 28.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.05 earnings per share. On average, analysts anticipate that Medpace Holdings, Inc. will post 8.65 earnings per share for the current fiscal year.
Institutional Trading of Medpace
Several large investors have recently added to or reduced their stakes in the stock. Joseph Group Capital Management boosted its holdings in Medpace by 1.4% in the second quarter. Joseph Group Capital Management now owns 3,190 shares of the company’s stock valued at $766,000 after acquiring an additional 44 shares in the last quarter. Zions Bancorporation N.A. boosted its holdings in shares of Medpace by 0.7% during the 2nd quarter. Zions Bancorporation N.A. now owns 6,213 shares of the company’s stock valued at $1,492,000 after buying an additional 45 shares in the last quarter. Roberts Glore & Co. Inc. IL boosted its holdings in shares of Medpace by 0.8% during the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 5,852 shares of the company’s stock valued at $1,405,000 after buying an additional 45 shares in the last quarter. Schulhoff & Co. Inc. boosted its holdings in shares of Medpace by 2.0% during the 3rd quarter. Schulhoff & Co. Inc. now owns 2,250 shares of the company’s stock valued at $545,000 after buying an additional 45 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in Medpace by 0.6% in the 1st quarter. Ameritas Investment Partners Inc. now owns 8,495 shares of the company’s stock worth $1,597,000 after purchasing an additional 48 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.
Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. It offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. The company also provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.
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