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

Medpace Holdings, Inc. (NASDAQ:MEDP)’s stock price gapped down prior to trading 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 the company’s 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 transaction, the general counsel directly owned 10,343 shares in the company, valued at $4,654,350. This represents a 22.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO August J. Troendle sold 48,487 shares of the company’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $451.69, for a total transaction of $21,901,093.03. Following the completion of the transaction, the chief executive officer owned 962,615 shares of the company’s stock, valued at approximately $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 other Medpace news, VP Susan E. Burwig sold 7,500 shares of the company’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 completion of the transaction, the vice president directly owned 57,500 shares in the company, valued at $25,883,050. This represents a 11.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analyst Ratings Changes

A number of research firms have weighed in on MEDP. Barclays upped their price target on shares of Medpace from $300.00 to $450.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 23rd. UBS Group reiterated a “sell” rating and issued a $305.00 price target (up from $300.00) on shares of Medpace in a research report on Tuesday. Truist Financial boosted their target price on shares of Medpace from $298.00 to $436.00 and gave the stock a “hold” rating in a report on Wednesday, July 23rd. Cowen downgraded shares of Medpace from a “buy” rating to a “sell” rating in a report on Wednesday, July 23rd. Finally, TD Cowen reissued a “sell” rating and issued a $366.00 target price (up previously from $283.00) on shares of Medpace in a report on Wednesday, July 23rd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Medpace presently has a consensus rating of “Hold” and a consensus target price of $406.60.

Medpace Stock Down 1.1%

The company has a market cap of $12.58 billion, a PE ratio of 33.30, a P/E/G ratio of 2.85 and a beta of 1.47. The stock’s 50 day moving average is $325.43 and its 200-day moving average is $322.18.

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

Institutional Investors Weigh In On Medpace

A number of hedge funds have recently bought and sold shares of the business. Vista Finance LLC raised its stake in Medpace by 4.0% during the second quarter. Vista Finance LLC now owns 1,158 shares of the company’s stock valued at $363,000 after purchasing an additional 45 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Medpace in the second quarter valued at $2,216,000. Chevy Chase Trust Holdings LLC raised its stake in shares of Medpace by 1.5% in the second quarter. Chevy Chase Trust Holdings LLC now owns 15,131 shares of the company’s stock valued at $4,749,000 after acquiring an additional 219 shares during the period. Oxbow Advisors LLC raised its stake in shares of Medpace by 3.6% in the second quarter. Oxbow Advisors LLC now owns 9,188 shares of the company’s stock valued at $2,884,000 after acquiring an additional 323 shares during the period. Finally, Nordea Investment Management AB raised its stake in shares of Medpace by 4.8% in the second quarter. Nordea Investment Management AB now owns 61,125 shares of the company’s stock valued at $19,067,000 after acquiring an additional 2,792 shares during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.

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.