Medpace (NASDAQ:MEDP) Sees Strong Trading Volume Following Better-Than-Expected Earnings

Shares of Medpace Holdings, Inc. (NASDAQ:MEDP) saw strong trading volume on Tuesday following a stronger than expected earnings report. 182,992 shares were traded during mid-day trading, a decline of 24% from the previous session’s volume of 239,993 shares.The stock last traded at $365.34 and had previously closed at $376.26.

The company reported $3.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.75. The business had revenue of $511.00 million during the quarter, compared to the consensus estimate of $512.39 million. Medpace had a return on equity of 63.98% and a net margin of 15.00%. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.27 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MEDP shares. Robert W. Baird raised their price objective on Medpace from $312.00 to $408.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. StockNews.com downgraded Medpace from a “buy” rating to a “hold” rating in a research report on Saturday, March 23rd. Jefferies Financial Group raised Medpace from a “hold” rating to a “buy” rating and lifted their price objective for the company from $340.00 to $450.00 in a research report on Tuesday. UBS Group raised Medpace from a “neutral” rating to a “buy” rating and boosted their price target for the company from $282.00 to $452.00 in a research report on Thursday, February 15th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Medpace in a research note on Monday, March 18th. They set a “hold” rating and a $395.00 price objective on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $395.60.

Insider Buying and Selling

In related news, VP Susan E. Burwig sold 102 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $403.00, for a total value of $41,106.00. Following the completion of the sale, the vice president now directly owns 15,181 shares of the company’s stock, valued at $6,117,943. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Susan E. Burwig sold 102 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $403.00, for a total transaction of $41,106.00. Following the completion of the transaction, the vice president now directly owns 15,181 shares of the company’s stock, valued at $6,117,943. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Medpace Investors, Llc sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $391.75, for a total value of $19,587,500.00. Following the transaction, the insider now directly owns 5,539,947 shares of the company’s stock, valued at $2,170,274,237.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,340 shares of company stock worth $76,651,647. 20.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Medpace

Institutional investors have recently made changes to their positions in the stock. RiverPark Advisors LLC acquired a new stake in Medpace in the fourth quarter worth approximately $26,000. Contravisory Investment Management Inc. purchased a new stake in shares of Medpace in the fourth quarter valued at $26,000. Rise Advisors LLC acquired a new position in shares of Medpace in the first quarter worth $27,000. Mather Group LLC. acquired a new position in shares of Medpace in the first quarter worth $28,000. Finally, FinTrust Capital Advisors LLC acquired a new position in shares of Medpace in the third quarter worth $30,000. 77.98% of the stock is owned by institutional investors.

Medpace Stock Up 5.4 %

The firm has a market capitalization of $12.29 billion, a price-to-earnings ratio of 42.37, a P/E/G ratio of 1.97 and a beta of 1.38. The stock’s 50 day moving average price is $396.82 and its two-hundred day moving average price is $322.00.

Medpace Company Profile

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It 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.