Medpace Holdings, Inc. (NASDAQ:MEDP) President Jesse J. Geiger Sells 41,801 Shares of Stock

Medpace Holdings, Inc. (NASDAQ:MEDP) President Jesse J. Geiger sold 41,801 shares of Medpace stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $453.11, for a total transaction of $18,940,451.11. Following the completion of the transaction, the president directly owned 36,503 shares of the company’s stock, valued at $16,539,874.33. This trade represents a 53.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Medpace Trading Up 1.2%

Shares of MEDP stock opened at $453.05 on Tuesday. Medpace Holdings, Inc. has a 12 month low of $250.05 and a 12 month high of $501.30. The stock has a market cap of $12.73 billion, a P/E ratio of 33.68, a P/E/G ratio of 2.82 and a beta of 1.47. The company has a 50 day simple moving average of $322.60 and a two-hundred day simple moving average of $321.30.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, July 21st. The company reported $3.10 EPS for the quarter, beating 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 business had revenue of $603.31 million during the quarter, compared to analysts’ expectations of $537.70 million. During the same period in the prior year, the company earned $2.75 earnings per share. The firm’s revenue was up 14.2% on a year-over-year basis. As a group, equities analysts forecast that Medpace Holdings, Inc. will post 12.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MEDP. Mizuho lifted their target price on shares of Medpace from $328.00 to $510.00 and gave the stock an “outperform” rating in a report on Friday. Cowen cut shares of Medpace from a “buy” rating to a “sell” rating in a report on Wednesday, July 23rd. Robert W. Baird lifted their target price on shares of Medpace from $313.00 to $490.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. TD Cowen reissued a “sell” rating and set a $366.00 price objective (up from $283.00) on shares of Medpace in a report on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Medpace from $270.00 to $430.00 and gave the company a “hold” rating in a report on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $411.10.

Hedge Funds Weigh In On Medpace

A number of hedge funds have recently modified their holdings of the company. Whittier Trust Co. boosted its position in shares of Medpace by 47.3% in the first quarter. Whittier Trust Co. now owns 109 shares of the company’s stock worth $33,000 after purchasing an additional 35 shares during the period. PDS Planning Inc boosted its position in shares of Medpace by 1.5% in the second quarter. PDS Planning Inc now owns 2,421 shares of the company’s stock worth $760,000 after purchasing an additional 35 shares during the period. Benjamin Edwards Inc. boosted its position in shares of Medpace by 3.1% in the first quarter. Benjamin Edwards Inc. now owns 1,201 shares of the company’s stock worth $366,000 after purchasing an additional 36 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Medpace by 64.9% in the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $29,000 after purchasing an additional 37 shares during the period. Finally, Assetmark Inc. boosted its position in shares of Medpace by 24.9% in the first quarter. Assetmark Inc. now owns 216 shares of the company’s stock worth $66,000 after purchasing an additional 43 shares during the period. 77.98% of the stock is currently owned by institutional investors.

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.